Agnico Eagle sets quarterly production record
Canada-based gold miner Agnico Eagle has set a new quarterly production record, driven by a strong operational and safety performance, leading to better-than-expected earnings and cashflow.
The company produced a record 858 170 oz of gold at a total cash cost of $726/oz and an all-in sustaining cost of $1 026/oz.
The higher gold production, when compared with the prior-year period, was attributed to the inclusion of the production from the Kirkland Lake acquisition, which brought the Detour Lake mine and Macassa mines in Canada, as well as the Australian mine Fosterville, into Angico Eagle's fold.
The higher production from these former Kirkland Lake mines was partially offset by the cessation of gold production in 2022 at the Hope Bay mine, in Nunavut, following the company's decision to dedicate the infrastructure to exploration activities and lower production at the company's Pinos Altos mine, as a result of lower tonnage sourced from the underground mine.
For the second quarter of 2022, Agnico Eagle reported net income of $275.8-million, or $0.61 a share, with adjusted net income of $347.2-million, or $0.76 a share.
Operating cash flow was $1.39 a share.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation