KITTILA COURT DECISION ISSUED - KITTILA'S OPERATING PERMIT RESTORED TO 2 MILLION TONNES PER ANNUM; TOTAL 2023 GOLD PRODUCTION NOW EXPECTED TO BE NEAR UPPER END OF ANNUAL GUIDANCE RANGE T.AEM | 11 days ago TORONTO, Oct. 27, 2023 /PRNewswire/ - Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) ("Agnico Eagle" or the "Company") today announced that the Supreme Administrative Court of Finland ("SAC") issued its ruling on Kittila's operating permit and has restored Kittila's operating permit to 2 million tonnes per annum ("mtpa").
"We are pleased with the positive ruling by the Supreme Administrative Court of Finland, which allows Kittila to continue to operate at a rate of 2 mtpa. This ruling is consistent with our excellent environmental performance at Kittila, where we are well below the environmental emission limits. We now expect approximately 30,000 ounces of additional production from the Kittila mine in the fourth quarter of 2023 and we are now expecting to be near the upper end of our total annual production guidance of between 3.24 million ounces to 3.44 million ounces of gold in 2023," said Ammar Al-Joundi, Agnico Eagle's President and Chief Executive Officer.
In 2020, the Regional State Administrative Agency of Northern Finland granted Agnico Eagle Finland Oy ("Agnico Finland") environmental and water permits that would allow Agnico Finland to enlarge the CIL2 tailings storage facility, expand the operations of the Kittila mine to 2.0 mtpa and build a new discharge waterline. The permits were subsequently appealed to the Vaasa Administrative Court in Finland. The appeals were granted, in part, in July 2022 with the result that the permits were returned for reconsideration by the Regional State Administrative Agency of Northern Finland. In August 2022, the Company appealed the decisions of the Vaasa Administrative Court to the SAC and requested that the SAC restore the permits. No further appeals are available.
On October 27, 2023, the SAC confirmed that the environmental permits granted to Agnico Finland in 2020 remain valid and production can continue at a rate of 2.0 mtpa in accordance with the permit. The Company operated Kittila at an annualized rate of 2.0 mtpa in the first nine months of 2023 and is now expected to maintain that production rate through the fourth quarter of 2023, providing approximately 30,000 ounces of additional gold production. Overall, the Company now expects gold production to be near the upper end of its annual production guidance of between 3.24 million ounces to 3.44 million ounces per year in 2023.
About Agnico Eagle Agnico Eagle is a senior Canadian gold mining company, producing precious metals from operations in Canada, Australia, Finland and Mexico. It has a pipeline of high-quality exploration and development projects in these countries as well as in the United States. Agnico Eagle is a partner of choice within the mining industry, recognized globally for its leading environmental, social and governance practices. The Company was founded in 1957 and has consistently created value for its shareholders, declaring a cash dividend every year since 1983.
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Gold Breaks Out of Inside Day: Bullish Momentum Building By: Bruce Powers | November 3, 2023
• Amid strong upward movement, gold targets a breakout above the trend high, setting the stage for a possible new record monthly close in November.
Gold broke out of yesterday’s inside day today on a rise above 1,991. It subsequently reached a three-day high of 2,004. A daily close above 1,991 will confirm the inside day breakout and a close above the three-day high of 1,984 shows further strength. Further, for the short term, a daily close above the middle of today’s range around 1,994 will show greater strength than a close below that level.
ARIS MINING INCREASES SEGOVIA OPERATIONS' MEASURED AND INDICATED MINERAL RESOURCES BY +114% TO 3.6 MOZ AT 14.34 g/t AU November 02, 2023
VANCOUVER, BC, Nov. 2, 2023 /PRNewswire/ -
Aris Mining Corporation (Aris Mining or the Company) (TSX: ARIS) (NYSE: ARMN) announces updated mineral resource estimates for its Segovia Operations in Colombia effective September 30, 2023 (the "2023 MRE"). Aris Mining will file an updated technical report in support of the 2023 MRE within 45 days of this news release.
Neil Woodyer, CEO of Aris Mining, commented "In early 2023, Aris Mining launched a strategic exploration and infill drill program at the Segovia Operations and a review of the geological interpretation and resource estimation methodology. After assessing the findings of our reviews as well as our impressive mid-year drilling results (see News Release from August 16, 2023), we decided to expedite the process of updating our mineral resource and mineral reserve estimates. Segovia has a history of expanding its gold resources and this current estimate represents a leap forward. We are now in the process of updating the mineral reserve estimates, which is expected to be completed by the end of November."
Figure 1: Growth of gold mineral resources (in million of ounces or Moz), net of production depletion1
28M oz $Gold in Columbia, Guyana, and Canada | $Aris Mining Interview ceo bbq This is an interview with Aris Mining's senior vice president, Tyron Breytenbach. Aris Mining is a gold producer with 2 producing mines in Columbia, 1 development project in Columbia, 1 development project in Guyana, and 1 development project in Canada.
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