Agnico Eagle won’t resume gold production at Hope Bay in 2022 – Nunatsiaq News

Company says wants to focus on exploration, rather than running its ‘low-volume/high-cost’ Doris mine

Agnico Eagle Mines Ltd. says it won’t be producing gold at its Hope Bay property in western Nunavut throughout 2022.

That means no royalty payments or contracts tied to production at the company’s Doris mine, where production was first suspended in October.

Company spokesperson Sonja Galton said the company is focusing on exploring and expanding the property.

The company had to weigh the “importance of growing Hope Bay’s gold resources to support future expansion as opposed to maintaining low-volume/high-cost mine production operation,” Galton wrote in an email.

Read More: https://nunatsiaq.com/stories/article/agnico-eagle-wont-resume-gold-production-at-hope-bay-in-2022/