Canadian gold miner Agnico-Eagle is forecasting a strong second half, with gold production averaging 480 000 oz to 500 000 oz a quarter, as the company has successfully ramped up operations following the temporary Covid-19 shutdown.
Seven of Agnico’s eight mines were on care and maintenance at one point during the second quarter, in which the company produced 331 064 oz at an all-in sustaining cost (AISC) of $1 142/oz. The production was about 20% below that of the corresponding period in 2019, while the AISC was 20% higher.
Only the Kittila mine, in northern Finland, operated continuously during the second quarter.