Agnico-Eagle Mines Limited

What Agnico-Eagle Mines Limited does

Agnico-Eagle Mines Limited is a Canada-based senior gold mining company that operates ten producing mines across Canada (seven mines), Australia, Finland, and Mexico, supplemented by five advanced exploration and development projects. The company's core technology stack spans conventional and specialized mineral processing — crushing, grinding, gravity separation, cyanide leaching (CIL/CIP), flotation, bacterial oxidation, and the only pressure oxidation (autoclave) circuit in its portfolio at the Kittilä mine in Finland for refractory ore — yielding doré bars and copper/zinc concentrates. It also operates the second-deepest single-lift shaft in the Western Hemisphere at LaRonde (the Penna Shaft), uses automated systems such as the Rail-Veyor at Goldex, and runs automated scoops and trucks at LaRonde Zone 5 (LZ5), which hauled approximately 22% of ore to surface via automation in 2025.

The business model is a commodity producer: Agnico Eagle generated 3,447,367 oz of gold in 2025 at all-in sustaining costs of $1,339/oz, with by-product credits from silver, zinc, and copper (2.50M oz, 8.45K tonnes, and 5.39K tonnes respectively). Realized gold pricing reached approximately $4,861/oz in Q1 2026, producing record quarterly revenue of $4.10B, $1.7B in net income, and $3.0B in EBITDA. Revenue is sold into the global gold market through doré bars and concentrates; shares trade on the TSX and NYSE under ticker AEM. The company targets institutional and retail investors through a comprehensive investor relations program rather than selling directly to consumers, and distributes $8.9B in economic value annually across its operating geographies. Agnico Eagle maintains a 34-year uninterrupted dividend streak and a Fitch A- credit rating.

Name

Agnico-Eagle Mines Limited

Legal name

Agnico Eagle Mines Limited

Website

https://agnicoeagle.com

Company type

Public

Founded year

1957

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Agnico-Eagle Mines Limited is a Canadian senior gold producer operating ten mines across Canada, Australia, Finland, and Mexico, producing approximately 3.45 million ounces of gold annually at industry-low all-in sustaining costs. The company sells to global commodity markets and serves institutional and retail investors through TSX and NYSE listings.

Ownership category

akta.pro rank

Product category

Gold Mining

NAICS

Gold Ore and Silver Ore Mining (21222), Gold Ore and Silver Ore Mining (212220), Other Metal Ore Mining (21229)

SIC

Gold And Silver Ores (1040), Metal Mining (1000)

akta.pro primary industry

Gold Mining (IMAKAEAA)

akta.pro secondary industry

Silver Mining (IMAKAEAB)

Keywords

• Gold mining operations
• Precious metals production
• Gold mineral reserves
• Mining exploration services
• By-product metal recovery

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices12 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Supply Chain, Infrastructure, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Gold Production and Sales: Primary revenue stream from gold mining operations. The company produced 3,447,367 oz of gold in 2025 at an all-in sustaining cost of $1,339/oz. Gold is sold as doré bars containing gold and silver, with realized gold prices of approximately $4,861/oz in Q1 2026.
2. By-product Metals (Silver, Zinc, Copper): Revenue from by-product silver, zinc, and copper produced during gold mining operations. In 2025, production included 2.50 million oz silver, 8.45K tonnes zinc, and 5.39K tonnes copper. The LaRonde complex produces zinc and copper concentrates carrying valuable gold and silver credits.
3. Joint Venture - San Nicolás: 50/50 joint venture with Teck Resources for the San Nicolás copper-zinc project in Mexico. Agnico Eagle has committed to fund the first US$580 million of project costs, with subsequent funding according to ownership percentage.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels7 records

Core offering

Agnico Eagle Mines Limited is a senior gold mining company that produces gold doré bars and by-product silver, zinc, and copper concentrates from 10 operating mines in Canada, Australia, Finland, and Mexico. In 2025 the company produced 3,447,367 ounces of gold at an all-in sustaining cost of $1,339/oz. The portfolio also includes 5 advanced exploration/development projects (Hammond Reef, Hope Bay, Upper Beaver, San Nicolás, Wasamac) and a 50/50 joint venture (San Nicolás) with Teck Resources for copper-zinc development in Mexico.

Product overview

Agnico-Eagle Mines Limited is a senior gold mining company operating a portfolio of 10 producing mines and 5 advanced exploration/development projects across Canada (7 mines), Australia (1 mine), Finland (1 mine), and Mexico (1 mine). The company generates revenue primarily through gold production (~3.45 M oz in 2025) with by-product silver, zinc, and copper. Gold doré bars are produced on site at most operations; LaRonde and San Nicolás additionally produce saleable concentrates. The product portfolio spans the full mining value chain: exploration, development, mining, and processing. Key production hubs include the Abitibi gold belt in Quebec/Ontario (LaRonde, Canadian Malartic/Odyssey, Goldex), the Kirkland Lake camp in Ontario (Detour Lake, Macassa), Nunavut (Meadowbank/Amaruq, Meliadine, Hope Bay development), plus Fosterville in Australia and Kittilä in Finland. The company also produces copper-gold concentrate at Akasaba West and holds a 50% joint venture interest in the San Nicolás copper-zinc project in Mexico.

Differentiator

Problem solved

Functional benefit

Products and services

• LaRonde Complex Underground gold mine in northwestern Quebec with a copper and zinc flotation circuit plus precious metals recovery. The mine's Penna Shaft is the deepest single-lift shaft in the Western Hemisphere. Produced 344,555 oz gold in 2025 with total cash costs of $829/oz.
• Canadian Malartic Complex One of the largest gold mining operations in the world in northwestern Quebec, combining the Canadian Malartic open-pit mine (completed 2023) and the underground Odyssey mine (targeting 8.5 M oz payable gold from 2023–2042). Includes a 60,000-tpd processing facility with Fill the Mill strategy to potentially reach 1 M oz/year gold production by 2033. Produced 642,612 oz gold in 2025.
• Goldex Complex Underground gold mine in Val-d'Or, Quebec, featuring the Rail-Veyor automated underground conveyor system and gravity circuit recovering approximately two-thirds of gold on site. Includes the Akasaba West gold-copper open-pit mine (commercial production Q1 2024). Produced 125,501 oz gold in 2025.
• Detour Lake Mine Largest gold producing mine in Canada with the country's largest gold mineral reserves and mine life extending into the 2050s, located in northeastern Ontario. Open-pit operation with conventional crushing, grinding, gravity, cyanidation and carbon-in-pulp processing. Produced 692,675 oz gold in 2025, with optimization targeting 79,450 tpd throughput by 2030 and an approved 2-km exploration ramp for potential underground expansion.
• Macassa Mine High-grade underground gold mine in Kirkland Lake, Ontario, one of the world's highest-grade gold mines with production since 1933. The #4 Shaft production hoist (commissioned 2023) increased production, improved working conditions, and lowered unit costs. Produced 312,729 oz gold in 2025 with total cash costs of $793/oz.
• Meliadine Mine Underground and open-pit gold mine near Rankin Inlet in Kivalliq District, Nunavut, with commercial production since May 2019. Features a conventional gold circuit with crushing, grinding, gravity separation, cyanide leaching with CIL circuit, and dry-stack tailings. Produced 376,346 oz gold in 2025 with total cash costs of $1,067/oz.
• Meadowbank Complex Gold mining complex in western Nunavut combining the Meadowbank mill and the Amaruq satellite mine (open-pit and underground, commercial production September 2019). Processed ore using conventional crushing, grinding, gravity, cyanidation and carbon-in-pulp. Produced 493,314 oz gold in 2025 with total cash costs of $928/oz. Amaruq mine life extended to 2030.
• Fosterville Mine High-grade, low-cost underground gold mine in Victoria, Australia, and the largest gold producer in the state. Features conventional crushing, grinding, flotation, bacterial oxidation and CIL circuits. Produced 160,522 oz gold in 2025 with total cash costs of $937/oz. Robbins Hill production commenced November 2024.
• Kittilä Mine Largest primary gold mine in Europe, located in Lapland, Finland, 150 km north of the Arctic Circle. Underground-only operation since 2012 with Agnico Eagle's only pressure oxidation circuit (autoclave) for refractory ore processing. Produced 217,379 oz gold in 2025 with total cash costs of $1,081/oz. 100% of electricity from wind or nuclear power under a 2023 clean electricity agreement.
• Pinos Altos Mine Primarily underground gold and silver mine in northern Mexico (Chihuahua State), with conventional mill processing for higher-grade ore and heap-leaching for lower-grade ore. Merrill-Crowe process recovers gold and silver with on-site refinery producing doré bars. Produced 81,734 oz gold in 2025.
• Gold (Au) Doré Bars Primary product: gold produced as doré bars containing gold and silver, generated across all operating mines. Used in jewelry, electronics, aerospace, satellites, communications, medicine, and as a store of value and investment asset. 2025 production: 3,447,367 oz gold.
• Silver (Ag) By-Product By-product silver recovered at LaRonde complex and other operations, used in electronics, batteries, solar panels, jewelry, and as investment. 2025 production: 2.50 M oz silver.
• Zinc (Zn) Concentrate By-product zinc concentrate produced at LaRonde complex, used in galvanizing steel, brass and bronze manufacturing, pharmaceuticals, and cosmetics. 2025 production: 8.45 K tonnes zinc.
• Copper (Cu) Concentrate By-product copper and copper concentrate produced at LaRonde, Goldex, Akasaba West, and San Nicolás operations, used in electronics, renewable energy, electric vehicles, and plumbing. 2025 production: 5.39 K tonnes copper.

Quantifiable outcome

• Gold production of 3,447,367 oz in 2025
• +5 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Eight partnerships are on record, tiered minor and core.

• Prism Resources Inc.minorStrategic or Co-development Partner · 4 June 2026Agnico Eagle entered into a royalty purchase agreement to acquire a 7.5% net profit interest royalty over properties in the Porcupine Mining District of Ontario for $5 million in cash. Agnico Eagle currently holds approximately 11.07% of Prism's outstanding common shares.
• Kitikmeot Inuit AssociationcoreStrategic or Co-development Partner · 1 May 2026Partnership for the Hope Bay project development including meaningful economic participation for Indigenous organizations and partners. The federal government has committed C$25 million in funding to the Hope Bay Wind Project led by Inuit-owned Kitikmeot Tugliq Limited Partnership.
• Rupert Resources Ltd.coreStrategic or Co-development Partner · 20 April 2026Agnico Eagle agreed to acquire all outstanding shares of Rupert Resources through a plan of arrangement for approximately C$2.9 billion. Rupert's flagship Ikkari gold project in Northern Finland contains over 4Moz gold resource and will be integrated with Agnico Eagle's nearby Kittilä mine to create a multi-decade production hub targeting 500,000 oz annually.
• Aurion Resources Ltd.coreStrategic or Co-development Partner · 20 April 2026Agnico Eagle agreed to acquire all outstanding shares of Aurion Resources for approximately C$481 million (46% premium). Aurion holds exploration properties in Finland's Central Lapland Greenstone Belt adjacent to the Ikkari project.
• B2Gold Corp. (Fingold Joint Venture)coreStrategic or Co-development Partner · 20 April 2026Agnico Eagle agreed to purchase B2Gold's 70% interest in the Fingold Joint Venture for US$325 million, giving Agnico Eagle 100% ownership. The Fingold JV holds gold exploration properties in Finland's Central Lapland Greenstone Belt.
• Dja Dja Wurrung People (Djaara)coreStrategic or Co-development Partner · 1 May 2024Historic agreement called 'bakaru wayaparrangu' (meaning 'in the middle, we all meet') signed at Fosterville mine in May 2024 to develop long-term relationship based on trust, mutual respect and collaboration. Includes measures to increase Indigenous involvement through training, employment, business growth, and environmental safeguarding.
• FireFox Gold Corp.minorStrategic or Co-development Partner · 1 December 2023Exploration partnership at the Kolho Property in northern Finland under a December 2023 Earn-In Agreement. Agnico Eagle is earning a 51% interest by spending US$5 million, with cumulative spend reaching approximately US$2.94 million as of Q1 2026.
• Teck Resources LimitedcoreStrategic or Co-development Partner · 1 April 202350/50 joint venture partnership to advance the San Nicolás copper-zinc project in Zacatecas, Mexico. Agnico Eagle acquired 50% interest in April 2023 and has committed to fund the first US$580 million of project costs. The project contains proven and probable reserves of 52.6M tonnes grading 1.12% copper and 1.48% zinc.

Scale indicators24 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Barrick Mining Corporation: Barrick is the world's largest gold producer and Agnico Eagle's most direct competitor, having recently been overtaken as #2 globally. Operates large-scale open-pit and underground gold mines with comparable cost discipline focus and similar multi-jurisdictional portfolio.
• Newmont Corporation: Newmont is one of the world's largest gold miners with comparable portfolio of long-life assets across the Americas, Australia, and Africa. Direct competitor for institutional investor capital in the senior gold producer segment and comparable on ESG and Indigenous partnership initiatives.
• Kinross Gold Corporation: Kinross is a mid-tier senior gold producer with operations across the Americas and West Africa, producing roughly 2 million oz/year. Closely comparable size, cost profile, and growth-via-M&A strategy, making it a direct benchmark for valuation.
• Alamos Gold Inc. Alamos Gold is a mid-tier gold producer with operations in Canada and Mexico (notably Young-Davidson and Mulatos), and Agnico Eagle's CFO Jamie Porter was previously Alamos' CFO. Comparable intermediate-size producer with similar jurisdictional preference.
• B2Gold Corp. B2Gold is a mid-tier gold producer focused on West Africa and the Philippines, recently selling its Fingold JV interest in Finland to Agnico Eagle. Comparable in scale and growth-via-acquisition strategy; the Fingold transaction makes them a transaction-comparable peer.
• Eldorado Gold Corporation: Eldorado is a mid-tier gold producer with operations in Canada, Turkey, and Greece, producing roughly 500,000 oz/year. Comparable to Agnico Eagle in jurisdictional focus (politically stable jurisdictions) and underground mining expertise.
• IAMGOLD Corporation: IAMGOLD is a mid-tier gold producer with operations in Canada, West Africa, and South America. Comparable size and exposure to Canadian assets; recent Côté Lake development in Ontario directly competes for talent and capital in the Abitibi region.
• Gold Fields Limited: Gold Fields is a major international gold producer with operations in Australia, South Africa, Ghana, Peru, and Chile. Comparable in scale and international footprint; co-acquired Yamana Gold's assets alongside Agnico Eagle in 2023, creating a transactional reference point.
• AngloGold Ashanti plc: AngloGold Ashanti is a major international gold producer with operations across Africa, Australia, and the Americas. Comparable as a senior gold producer with multi-jurisdictional exposure; relevant for global capital allocation benchmarks in the gold mining space.

Emerging players

• Teck Resources Limited: Teck Resources is Agnico Eagle's 50/50 joint venture partner in the San Nicolás copper-zinc project in Mexico and a broader diversified miner. Comparable as a Canadian-headquartered mining company and transaction counterparty, though Teck's portfolio is more weighted toward base metals (copper, zinc, coal).

Market position

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/agnicoeagle
• YouTubeyoutube.com/@AgnicoEagleVideos
• Facebookfacebook.com/AgnicoEagle
• LinkedInlinkedin.com/company/agnico-eagle-mines
• Instagraminstagram.com/agnicoeagle/?hl=en

Revenue estimate

Valuation estimate

Number of profiles

Profiles18 records

Subsidiaries13 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A6 records

Investments41 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Agnico-Eagle Mines Limited