Video News/Kitco Mining

The development of an underground mine at the 700,000oz/y open pit operation at Agnico Eagle Mines’ Detour Lake operation in Ontario, Canada is "absolutely top priority" for Agnico Eagle Mines, president & CEO Ammar al-Joundi told Kitco Mining. Development of the underground operation could add 300,000oz/y of production at Detour Lake and allowing Agnico to join the 1Moz/y asset owners ounce club. The company recently announced an updated reserve and resource estimate, and life of mine plan for Detour Lake including a preliminary economic assessment for an underground mine. Development could start within three years once the company has developed a ramp, taken bulk samples and done additional drilling.