By Samuel Williams
BNAmericas.com
Toronto-based Agnico Eagle Mines aims to continue expanding its Mexican business beyond 300,000 oz/y gold production despite new mining taxes, corporate director of business strategy Dmitry Kushnir said.
There is a “definite objective to grow the contribution” of the company’s Mexican business, Kushnir told the Cowen Group Annual Global Metals, Mining and Materials Conference in New York on Tuesday (Nov 12).
The continued growth plans come despite tax reforms which include the introduction of a 7.5% mining tax, based on sales minus certain deductions, and an additional 0.5% gross revenues tax for gold, silver and platinum mines.