Gold production rises at Agnico-Eagle

For the first nine months of 2011, Agnico-Eagle’s gold mines produced a record 757,668 ounces of gold, the company announced Oct. 11.

This compares with its previous nine-month record set in the first nine months of 2010 when gold production reached 731,138 ounces. 

The higher gold production so far in 2011 is mainly due to increased production at its Meadowbank gold mine near Baker Lake, and three other of the company’s gold mines, an Agnico-Eagle news release said.

The Meadowbank mill processed an average of 9,414 tonnes per day in the third quarter of 2011, that is, from July through the end of September. 

This is up from the average of 7,332 tonnes per day churned out from March to the end of June, when production was affected by the March 10 fire that cut the mine’s operations through April. 

Since the installation of the permanent secondary crusher at Meadowbank last June, the mill has “routinely exceeded its design rate” of 8,500 tonnes per day, Agnico-Eagle said.

The mine’s production from July to Sepember reached 78,141 ounces of gold, up from 59,376 ounces of gold from March to the end of June.

The increase in gold production is primarily due to the increased activity at the mill and changes to the blasting techniques used at Meadowbank. 

Mine site production costs are expected to decline from now until the end of the year as a result, Agnico-Eagle said.