Operating Mines


    Agnico Eagle’s ability to consistently execute its business strategy has provided a solid foundation for growth. Three pillars – performance, pipeline and people – form the basis of Agnico Eagle’s success and competitive advantage. By delivering on them, the Company strives to continue to build its production base and generate increased value for shareholders, while operating in a safe and environmentally responsible manner, as we contribute to the prosperity of our people, their families and the communities in which we operate.

    Production Summary & Forecast

    Delivering on Performance: Agnico Eagle has established a valuable reputation for staying true to our mission, faithfully executing our business strategy, and for delivering measured, responsible growth.

    In 2021, payable gold production totaled 2,030,176 ounces (excluding 56,229 ounces of payable gold production at Hope Bay, and including 24,057 ounces and 1,956 ounces of pre-commercial gold production at the Tiriganiaq open pit at Meliadine and the Amaruq underground project, respectively) at production costs per ounce of $835, total cash costs per ounce of $761 and all-in sustaining costs (AISC) per ounce of $1,038. Production costs per ounce, total cash costs per ounce and AISC per ounce exclude the Hope Bay mine and the pre-commercial production ounces from Amaruq and Tiriganiaq.

    Including the Hope Bay mine, the Company's payable gold production was a record 2,086,405 ounces for the full year 2021.

    In 2021, new annual records for gold production were set at Meliadine, Kittila and Canadian Malartic, while the LaRonde Complex had its best year ever in terms of tonnage milled. Several production milestones were also reached in the fourth quarter of 2021, with the LaRonde Complex pouring its seven millionth ounce of gold, Goldex reached one million ounces of gold produced (since the 2013 restart) and Canadian Malartic reached six million ounces of gold produced (100% basis).

    Following the completion of the Merger with Kirkland Lake Gold on February 8, 2022, Agnico Eagle now has six cornerstone production assets (the LaRonde and Meadowbank Complexes and the Detour, Fosterville, Meliadine and Canadian Malartic mines) each with annual production rates in 2022 expected to be in excess of 300,000 ounces of gold.

    Gold production for 2022 is forecast to be approximately 3.2 to 3.4 million ounces.  The 2022 gold production forecast includes the full year of production at the Detour, Macassa and Fosterville mines. Total cash costs per ounce in 2022 are expected to be between $725 and $775, and AISC per ounce in 2022 are expected to be between $1,000 and $1,050.  Forecast total cash costs per ounce and AISC per ounce for 2022 to 2024 do not include any potential synergies resulting from the Merger.

    Gold production for 2023 and 2024 is expected to be in a similar range to 2022 at approximately 3.2 to 3.4 million ounces of gold.  The production forecast for 2024 does not include potential production upside from pipeline projects such as the AK deposit, the Odyssey internal zones and the Akasaba project at the Goldex mine.  Collectively, if approved and developed, these projects could potentially add up to 100,000 ounces of gold to the 2024 forecast.

    Full-year 2021 Production Summary and 2022 Guidance

    Performance Indicator 2022 Guidance* Full-year 2021
    Realized Price for Gold (per ounce)
    Realized Price for Silver (per ounce)
    Realized Price for Zinc (per tonne)
    Realized Price for Copper (per tonne)
    Total gold (ounces) 3.3 million ounces (mid-point)
    Total silver (x000 ounces)
    Zinc (tonnes)
    Copper (tonnes)
    Weighted average production costs per ounce of gold (by-product basis):
    Weighted average total cash costs per ounce of gold (by-product basis): $725 to $775 $770
     Weighted average all-in sustaining costs per ounce of gold (by-product basis):  $1,000 to $1,050 $1,059