- Write by:
-
Friday, October 29, 2021 - 12:58:03
-
432 Visit
-
Print
Mining News Pro - Agnico Eagle Mines has reported third-quarter net income of $114.5 million and a dividend of $0.47 per share. This represented a drop of about half from the third quarter of 2020 when net income was $222.7 million.
The company said the quarterly decrease was due primarily to lower operating margins, unrealized losses for non-cash items, and higher amortization of property.
For the first nine months of 2021, Agnico reported net income of $440.2 million, or $1.81 per share, compared to $306.4 million in 2020.
Gold production during the third quarter 2021 reached record levels at 541,663 oz. at all-in sustaining costs per ounce of $1,011. This includes 17,947 oz. from the recently acquired Hope Bay mine in Nunavut.
Quarterly production from the mines in the Abitibi region – LaRonde, Goldex and 50% of Canadian Malartic – totaled 222,373 oz. of gold. In Nunavut, the Mediadine mine has a record quarter producing 97,024 oz, including pre-commercial production of 6,881 oz. from the new Tiriganiaq open pit.
The 1.53 million oz. of gold produced in the first nine months of this year was also a record.
Agnico confirmed that guidance for 2021 remains unchanged at approximately 2.05 million oz. with all-in sustaining costs of $950 to $1,000 per ounce. Capital expenditures for the year are also unchanged at $803 million.
For Agnico’s global mines, the measured and indicated resources (as of December 31, 2020) were 341.4 million tonnes grading 1.4 g/t gold for 15.3 million contained oz., and the inferred resource was 283 million tonnes grading 2.57 g/t gold for 23.4 million contained oz. Proven and probable reserves total 15.2 million tonnes grading 0.76 g/t gold for 115.5 million contained oz.
Short Link:
https://www.miningnews.ir/En/News/616941
Harmony Gold said on Thursday an employee working on planned rail maintenance had died at its Mponeng mine in South ...
Emerging North American gold producer Contango ORE is boosting its landhold in Alaska with the acquisition of Canada’s ...
Gold fell, with market watchers saying the previous day’s rally in response to Federal Reserve Chair Jerome Powell’s ...
Canadian miner Barrick Gold on Wednesday beat first-quarter profit estimates on higher bullion prices and said it has ...
Barrick Gold faced criticism outside its annual general meeting on Tuesday in Toronto for supporting Malian rulers with ...
Gold wavered as traders looked ahead to a week with a Federal Reserve rate decision meeting and key US jobs data.
Newmont Corp beat Wall Street estimates for first-quarter profit on Thursday, as the world’s largest gold miner ...
China’s Zhaojin Mining Industry said on Wednesday that its A$733 million ($477.8 million) offer to buy Australia’s ...
Toronto-listed miner OceanaGold Corp said on Wednesday it will raise 6.08 billion pesos ($106 million) through an ...
No comments have been posted yet ...