Agnico Eagle’s second Nunavut gold mine moves into production

Agnico Eagle’s Meliadine mine officially launched commercial activity on May 14

Agnico Eagle Mines’ Meliadine site near Rankin Inlet, the company’s largest gold deposit in the territory, launched its commercial production on May 14. (Photo courtesy of AEM)

By Nunatsiaq News

Meliadine marked its first gold pour earlier this year. (Photo courtesy of AEM)

Agnico Eagle’s second Kivalliq gold mine is officially in business.

Agnico Eagle Mines’ Meliadine mine near Rankin Inlet, the company’s largest gold deposit in the territory, started commercial production on May 14.

The company intends to produce some 230,000 ounces of gold at Meliadine by the end of 2019.

The long-awaited mine, which cost more than $900 million in capital expenditures, is expected to employ about 900 staff, at least 350 of whom will be Inuit.

“Congratulations to all of our employees at Meliadine for achieving commercial production ahead of the original schedule and below the initial capital budget,” said Agnico Eagle Mines’ CEO Sean Boyd in a May 30 release.

The launch of commercial production also marks the period when Agnico Eagle starts paying royalties to the Inuit associations who oversee the project’s Inuit Impact and Benefits Agreement.

Over the next 15 years, the company expects to pay roughly $450 million in royalties and fees to both the Kivalliq Inuit Association and Nunavut Tunngavik Inc. for its Nunavut-based mines.

Agnico Eagle also plans to move forward on commercial production at its Amaruq–Whale Tail property, a satellite operation located about 50 kilometres northwest of its other Nunavut operation, Meadowbank.

As mining winds down at Meadowbank, ore from the Amaruq project will let the company continue with its existing mill at Meadowbank, near Baker Lake, until at least 2026.

“With Meliadine ramping up production over the balance of the year and Amaruq on schedule to achieve commercial production in the third quarter of 2019, the company is well positioned to achieve its gold production target of 1.75 million ounces for 2019,” Boyd said in the release.

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(14) Comments:

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    • Posted by Ioanna Paschalidou on

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  1. Posted by C.Legault on

    Your newsletter info would be greatly appreciated updates etc etc.

    • Posted by C.Legault on

      Your newsletter on this particular advertisement you don’t mention the country perhaps you mention the First Nation tribes and things like that how are we supposed to know on the other side of the world what that means and what country memes I’m sure it wouldn’t take too much of an effort add the country the territory or the problems if it happens to be pretending to Canada I don’t know God forbid you should go to the Arctic and want to report on something else he starts talking about in between mountains and valleys and you’re not referring to what part of the world thank you I’m not sure for what for the confusion I suppose

      • Posted by Unik on

        The title of the article says Nunavut.
        That’s where it is. It’s one google search away.

        • Posted by Israel MacArthut on

          No, it is a fair comment for an internationally oriented publication. Nunavut is very far from being a household word. I have met many Canadians who don’t even know what Nunavut is. Shocking, but true. Shocking, but true. If you’re aiming at a larger audience it would make sense to explain you’re talking about Canada.

          • Posted by Consistency on

            This is Nunatsiaq News, we are who they are reporting for, they arent and international oriented publication and if they start to care more about the international readers then they will not be our news paper.
            And Unik is right Google is and very useful tool.

        • Posted by John on

          Which is part of Canada for those who don’t know their geography

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  3. Posted by Earl Durocher on

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  4. Posted by Erin on

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