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Agnico Eagle putting Quebec mines on care and maintenance, withdraws guidance

Gold is poured as at Agnico-Eagle's Meadowbank mine facility in Nunavut on August 24, 2011. Agnico Eagle Mines Ltd. is ramping down operations in Quebec's Abitibi region including the LaRonde complex, the Goldex mine and the Canadian Malartic mine as non-essential businesses shut down in the province.THE CANADIAN PRESS/Sean Kilpatrick
March 25, 2020 - 6:49 AM

TORONTO - Agnico Eagle Mines Ltd. is ramping down operations in Quebec's Abitibi region including the LaRonde complex, the Goldex mine and the Canadian Malartic mine as non-essential businesses shut down in the province.

The gold miner is also withdrawing its full year 2020 production and cash costs guidance.

Agnico Eagle says the Quebec mines will be placed on care and maintenance until April 13 as mining operations have been ordered to minimize their activities in an effort to slow the spread of COVID-19.

It also says it will reduce activities at the Meliadine and Meadowbank mining operations in Nunavut, which are serviced out of Quebec.

Exploration activities in Canada will also be suspended during the period.

Agnico Eagle says its Mexican and Finnish mines continue to operate at normal levels.

This report by The Canadian Press was first published March 25, 2020.

Companies in this story: (TSX:AEM)

News from © The Canadian Press, 2020
The Canadian Press

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