Agnico Eagle Finland

What Agnico Eagle Finland does

Agnico Eagle Finland Oy is a wholly owned Finnish subsidiary of Agnico Eagle Mines Limited (NYSE/TSX: AEM), established in 2005 to operate the Kittilä gold mine in Lapland, which is Europe's largest gold mine. The company conducts underground mining, crushing, grinding, and gold extraction using Carbon-in-Leach processing combined with autoclave pressure-oxidation technology that is unique among Agnico Eagle's global operations, supported by a biological nitrogen removal plant using Moving Bed Biofilm Reactor technology commissioned in early 2023 and Finland's first 5G underground mining network built in 2021 with Telia, Digita, and Nokia. Annual ore throughput is approximately 2 million tonnes, yielding roughly 217,000-219,000 ounces (about 6,700-6,800 kg) of gold per year, with an estimated mine life extending to the late 2030s.

The business is a pure-play B2B commodity producer: gold doré is sold directly to international refineries and global commodity markets at prevailing spot prices, with no consumer-facing distribution. Revenue is therefore fully correlated with gold pricing, which is the primary driver of the increase from €413 million in 2023 to €485 million in 2024 and €658 million in 2025, while ounce production was effectively flat over 2024-2025. The company operates as a cornerstone employer and taxpayer in Kittilä and Lapland, contributing €111 million in tax footprint in 2025, supporting 3,400 jobs in Finland including indirect effects, sourcing over 94% of €237 million in procurement domestically, and maintaining a stakeholder cooperation group since 2013 that includes reindeer herding cooperatives, the municipality, and educational institutions.

In 2025 the company secured a new environmental and water management permit allowing ore throughput to rise to 2.35 million tonnes per year, and in spring 2026 Agnico Eagle Finland expanded its asset base through three acquisitions: Rupert Resources Ltd (containing the Ikkari gold project and the Pahtavaara mine), Aurion Resources Ltd (Risti and Launi projects), and the 70% stake in Fingold Ventures Ltd previously held by B2Gold Corp. These additions extend the operating footprint in Sodankylä within the Central Lapland Greenstone Belt and provide a multi-decade project pipeline beyond the existing Kittilä mine. The 2025 change negotiations, concluded in November 2025, eliminated 33 positions and signalled active cost discipline alongside the growth investments.

Name

Agnico Eagle Finland

Legal name

Agnico Eagle Finland Oy

Website

https://agnicoeagle.fi

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

51–100 employees

Short description

Agnico Eagle Finland Oy operates the Kittilä gold mine, Europe's largest, producing approximately 218,000 ounces of gold annually for international refineries. A wholly owned subsidiary of Agnico Eagle Mines Limited, it expanded in 2026 via acquisitions of Rupert Resources, Aurion Resources, and Fingold.

Ownership category

akta.pro rank

Headquarters

HQ city

Kiistala

HQ country

Finland

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Gold Production and Sales: Agnico Eagle Finland generates revenue through gold mining operations at the Kittilä mine. The company extracts approximately 2 million tonnes of ore annually, producing around 6,800-7,500 kg (218,000-240,000 ounces) of gold per year. Gold is sold as a commodity to international markets and refineries. Revenue is commodity-price dependent and represents one-time transaction revenue from physical gold sales.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

Agnico Eagle Finland Oy operates the Kittilä mine in Finnish Lapland, Europe's largest primary gold mine, conducting underground gold mining, ore processing, and doré bar production. The company also runs active near-mine and regional exploration programs to delineate additional resources and extend mine life. It is a wholly-owned subsidiary of Agnico Eagle Mines Limited (NYSE/TSX: AEM) and employs approximately 1,200 people.

Product overview

Agnico Eagle Finland operates a portfolio of gold mining and exploration activities centered around the Kittilä Mine, which is Europe's largest gold mine. The company offers two core service lines: (1) underground gold mining operations producing approximately 2 million tonnes of ore and 7,500 kg of gold annually, and (2) regional mineral exploration services focused on Kittilä and Sodankylä areas. The product portfolio includes the Kittilä Mine as the primary asset, regional exploration operations, and several exploration projects including Ikkarin kultahanke (Ikkari Gold Project), Risti-projekti, Launi-projekti, and Pahtavaaran kaivos (acquired in 2026). Supporting offerings include stakeholder cooperation (Yhteistyöryhmä), the Kaivossanomat newsletter, and the Safety Journey safety philosophy. The company's mining operations utilize specialized processing including autoclave technology for gold extraction, water treatment facilities, and 5G network infrastructure for underground communications.

Differentiator

Problem solved

Functional benefit

Products and services

• Kittilä Mine Operations
• Gold Doré Production
• Near-Mine and Regional Exploration

Quantifiable outcome

• 218,860 oz gold produced in 2024
• +4 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

14 partnerships are on record, tiered core and minor.

• Rupert Resources LtdcoreStrategic or Co-development Partner · 21 April 2026Agnico Eagle acquired all issued and outstanding shares of Rupert Resources Ltd in spring 2026. Rupert Resources holds the Ikkari gold project in Sodankylä, one of the most significant gold discoveries in Finland in recent years, as well as the Pahtavaara mine.
• Aurion Resources LtdcoreStrategic or Co-development Partner · 21 April 2026Agnico Eagle acquired all issued and outstanding shares of Aurion Resources Ltd in spring 2026. Aurion Resources explored the Risti project and Launi project areas in Central Lapland greenstone belt since 2015 and 2018 respectively.
• B2Gold CorpcoreStrategic or Co-development Partner · 21 April 2026Agnico Eagle acquired 70% stake in Fingold Ventures Ltd from B2Gold Corp, which combined with Aurion's 30% ownership gives Agnico Eagle 100% of Fingold.
• Outokumpu OyjminorStrategic or Co-development Partner · 13 November 2025Joint advocacy partnership with Outokumpu and Finnish Minerals Group to propose solutions for maintaining jobs and investments in Finnish mining industry, particularly regarding mining mineral tax reform.
• Finnish Minerals Group OyminorStrategic or Co-development Partner · 13 November 2025Joint advocacy partnership with Outokumpu and Agnico Eagle Finland to propose solutions for Finnish mining industry competitiveness and mining tax reform.
• Lapin hyvinvointialueen pelastustoimicoreStrategic or Co-development Partner · 17 June 2025Partnership agreement signed with Lapland Regional Fire Department. The Kittilä mine's industrial fire brigade serves as a contract fire brigade supporting public rescue services.
• Oulun yliopisto (Oulu Mining School)coreStrategic or Co-development Partner · 7 July 2022Long-term cooperation in mining industry education and research. Agnico Eagle Finland donated 100,000 EUR to the University of Oulu's engineering faculty as part of a fundraising campaign.
• TeliacoreTechnology or Integration · 13 October 2021Telia, together with partners Digita and Nokia, is building a 5G network at Kittilä mine. This is the first 5G network in an underground mining environment in Finland and among the first large-scale implementations of 5G technology in production use.
• DigitacoreTechnology or Integration · 13 October 2021Partner in 5G network construction at Kittilä mine, working with Telia and Nokia.
• NokiacoreTechnology or Integration · 13 October 2021Technology partner providing 5G equipment for underground mine network at Kittilä.
• Kuivasalmen paliskuntacoreStrategic or Co-development Partner · 1 September 2013Reindeer herding cooperative in Kittilä region. Important cooperation partner for managing mining operations alongside traditional land use.
• Kittilän kuntacoreStrategic or Co-development Partner · 1 September 2013Municipality of Kittilä, one of the main cooperation partners. The mine is a significant employer and taxpayer in the municipality.
• Lapin koulutuskeskus REDUcoreStrategic or Co-development Partner · 1 September 2013Educational institution in Kittilä providing mining-related vocational training. Company cooperates on internships, thesis projects, and training programs.
• Kestävän kaivostoiminnan verkosto (Finnish Sustainable Mining Network)coreStrategic or Co-development PartnerMember of the Finnish Sustainable Mining Network established by Sitra in 2014. Network developed the Finnish Sustainable Mining system for improving mining responsibility.

Scale indicators14 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Endomines AB: Sweden-based gold mining and exploration company operating the Pampalo mine in Finland and exploring the Karelian Gold Belt. Direct peer in Finnish gold mining, recently awarded the 2025 Agnico Eagle Award for innovative gold exploration approaches.
• Rupert Resources Ltd: Canadian-listed gold exploration company focused on the Ikkari discovery and Pahtavaara mine in Sodankylä, Finland, acquired by Agnico Eagle in spring 2026. Highly comparable as a Finnish gold developer with adjacent assets now consolidated under Agnico Eagle Finland.
• Agnico Eagle Mines Limited: Canadian parent company (NYSE/TSX: AEM) operating a global portfolio of gold mines including the Finnish Kittilä operation. Most directly comparable as the entity that controls and consolidates Agnico Eagle Finland's production, financials, and exploration strategy.
• Aurion Resources Ltd: Junior gold exploration company with Risti and Launi projects in the Central Lapland Greenstone Belt, acquired by Agnico Eagle in 2026. Direct peer in Finnish gold exploration now under Agnico Eagle Finland's portfolio.
• B2Gold Corp: Mid-tier gold producer with prior ownership of a 70% stake in Fingold Ventures Ltd in Finland (sold to Agnico Eagle in 2026). Highly comparable as a direct exploration and mining peer in the Central Lapland region with operating experience in the Finnish regulatory environment.

Broad incumbents

• AngloGold Ashanti plc: Major global gold producer with operations across Africa, the Americas, and Australia. Comparable as a senior gold producer focused on tier-one assets, ESG leadership, and operational scale similar to Agnico Eagle Finland's parent.
• Barrick Gold Corporation: Major diversified gold producer operating multiple tier-one mines globally, including joint ventures in Europe-adjacent regions. Comparable as a senior gold miner with similar focus on large-scale, long-life assets and ESG positioning.
• Kinross Gold Corporation: Senior gold producer with operating mines across the Americas, West Africa, and Europe (including the Kupol mine in Russia). Comparable as a mid-to-large gold miner focused on responsible production and tier-one jurisdiction assets.
• Gold Fields Limited: Major global gold miner with operations across Africa, Australia, and the Americas, including a development project in northern Europe (Finland/Sweden region). Comparable as a senior gold producer with similar tier-one jurisdiction strategy and ESG emphasis.
• Newmont Corporation: World's largest gold miner with a diversified global portfolio of operating mines, including European and Nordic exposure. Comparable as a large-scale gold producer with emphasis on ESG, safety, and tier-one jurisdiction assets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/agnicoeagle
• YouTubeyoutube.com/user/AgnicoEagleVideos
• Facebookfacebook.com/agnicoeagle
• LinkedInlinkedin.com/company/agnico-eagle-finland

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Agnico Eagle Finland