politics
Agnico Eagle to Redevelop Hope Bay Gold Mine in Nunavut
Agnico Eagle Mines Ltd. will restart development of its Hope Bay gold mine project in Nunavut. The company estimates initial capital costs at US$2.4 billion and annual production between 400,000 and 435,000 ounces.
May 19, 11:15 AM·1m read1 source
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Agnico Eagle Mines Ltd. says it will proceed with redevelopment of its Hope Bay gold mine project in Nunavut. 4 billion. The price tag includes reconstruction of the processing facility, the addition of a 37-megawatt diesel generator power plant, mobile equipment, upgrades to the tailings facility, and about 33 kilometres of underground development.
Once complete, Agnico Eagle estimates annual gold production from the mine at between 400,000 and 435,000 ounces. The company projects an initial mine life of 11 years with additional upside potential. , the previous owner and operator of the Hope Bay gold mine, in 2021 and suspended production in 2022 to focus on the property's exploration potential.
The Hope Bay project is located in the Kitikmeot region of western Nunavut, about 160 kilometres north of the Arctic Circle.
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