Agnico-Eagle Mines Ltd. | Company Profile

About The Company

Agnico-Eagle is an international growth company focused on gold, with operations in Canada and Finland and advanced-stage projects and opportunities in Canada, Mexico and the U.S.A. Our LaRonde mine in Quebec is Canada's largest gold deposit in terms of reserves. The mine generates strong earnings and cash flows, and is an excellent foundation for Agnico-Eagle's international expansion.

Production

Stock Info - Agnico-Eagle's shares are listed on The New York Stock Exchange and Toronto Stock Exchange under the ticker symbol AEM. The shares also trade on the Frankfurt Stock Exchange's Entry Standard under the symbol AE9 (WKN: 860325). The shares trade actively, with total daily volume frequently over 4 million shares. Company shares are held approximately 15% by individuals and 85% by institutions, primarily in North America. The ISIN number is CA0084741085.

The Projects

LaRonde Mine | Flagship Project

Agnico-Eagle's flagship LaRonde mine is located in the Abitibi Region of northwestern Quebec, approximately 650 km northwest of Montreal. Since 1988, the mine has produced more than 3 million ounces of gold. With proven and probable gold reserves of 5.0 million ounces; 34.9 million tonnes at 4.4 g/t,  LaRonde is the largest gold deposit in Canada. Even after 18 years of production, LaRonde reserves have been maintained or grown year after year.

In 2007, LaRonde produced 230,992 ounces of gold at a total cash cost of minus $365 per ounce. Byproduct production for the year totaled 4.9 million ounces of silver, 71,577 tonnes of zinc and 7,482 tonnes of copper.
LaRonde's low-cost production is a result of the economies of scale afforded by its large single shaft mine, its byproduct revenue and its stable, highly skilled and motivated workforce dedicated to cost-efficient mining operations. The mine's strong earnings and cash flows provide a solid foundation for Agnico-Eagle's international expansion.

Operations
LaRonde includes underground mining operations, a mill complex, a treatment plant, a secondary crusher building and related facilities.
While production has come from three different mine shafts, the mine currently uses the 2,250 metre Penna Shaft. This is the deepest single-lift shaft in the Western Hemisphere. It is used to hoist LaRonde's ore production of approximately 7,300 tonnes per day.
The mining method is predominantly transverse longhole stoping with delayed cemented backfill. Saleable byproducts of the mining operation include silver, zinc and copper.
The mill complex includes copper and zinc flotation circuits as well as a precious metals recovery circuit and refinery. The mill produces three products - precious metals doré bars, zinc concentrate and copper concentrate.
The new and expanded water treatment plant uses a biological process to reduce tailing effluent toxicity immediately prior to discharge. This high-tech facility represents the final stage in a series of various water treatments.

Employees
More than 600 experienced and highly skilled people work at the LaRonde operations. Many of our employees have been with the company since production began in 1988.

Goldex Mine

The Goldex property is located in the Abitibi region of northwestern Quebec, about 60 km east of the LaRonde mine. This underground mine began production in April 2008.  Goldex has approximately 23.1 million tonnes of proven and probable reserves grading 2.2 g/t and holding more than 1.6 million ounces of gold.

In July 2005, the decision was made to begin construction of the Goldex mine. Gold production began in April 2008 and is expected to average 175,000 ounces per year at total cash costs of $230 per ounce. It is anticipated that Goldex will have a nine-year mine life. The mineralization remains open to the east and at depth.
Goldex will be a low-cost, high-tonnage operation, processing nearly 7,000 tonnes of ore per day. Because it is in the same gold camp as LaRonde, the company is able to use some of the same infrastructure and benefit from operating synergies to improve project economies. Goldex also benefits from the experience and skills Agnico-Eagle has developed in mining the deep and complex ore at LaRonde.
Construction was completed in spring 2008, at a cost of approximately $183 million.


Kittila Mine

The Kittila mine is under construction on the Suurikuusikko gold deposit, located approximately 900 km north of Helsinki in the town of Kittila, in Finnish Lapland. Agnico-Eagle is comfortable operating in northern Finland, as the climate, topography, and geology are similar to the Abitibi region of northwestern Quebec where our current operations are. Production is expected to begin in the fourth quarter of 2008. Kittila has probable reserves of 3.0 million ounces; 18.2 million tonnes at 5.1 g/t – open on strike and at depth.

The Suurikuusikko deposit was formerly owned by Riddarhyttan Resources, a Finnish mining company. In November 2005, Agnico-Eagle acquired the outstanding shares of Riddarhyttan that it did not already own. The acquisition is consistent with the company's strategy of creating value by leveraging its technical skills and building a larger, more diversified gold production base.

Construction is well underway on the Kittila mine (on the Suurikuusikko deposit) in northern Finland, approximately 900 kilometers north of Helsinki. The Kittila mine, named after the nearby community of the same name, will initially be extracted via open pit followed by underground mining via ramp access. The mining operation will feed a 3,000 tonne per day surface processing plant.

Annual gold production is expected to average 150,000 ounces at total cash costs of $300 per ounce, with initial gold production occurring by the middle of 2008. Current reserves are sufficient for an estimated mine life of 13 years.

Diamond drills are currently operating at the Kittila mine project and are focused on converting the large gold resource to reserve and on drilling the extensive land position along strike of the known gold reserve.

For more detailed information about the projects and the company in general, please visit the website of Agnico-Eagle Mines!

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