Spotlight Agnico Eagle Mines: Turning Geopolitical Stability into GoldFebruary 18, 2021
Agnico Eagle Mines was founded in 1957 when five small struggling silver mining companies consolidated resources to try their hands at gold mining, ultimately saving the companies and their miners’ livelihoods. Today the firm mines silver, gold, copper and zinc from sites in Canada, Finland and Mexico, but its major business remains gold, delivered in the form of gold bars and concentrate. Its unique differentiator is providing shareholders exposure to spot gold prices due to its long-standing policy of no forward gold sales.
What makes Agnico Eagle an innovation leader in the sector is its unique view on growing production by selecting only those projects in regions it assesses to be politically stable, with governments that are supportive of mining activities. Based in Toronto, one of the firm’s core principles is operating in a safe, socially and environmentally responsible manner, which has led to extensive sustainability programs. In 2020, the Mining Association of Canada awarded Agnico Eagle its prestigious Towards Sustainable Mining Award that recognizes companies going above and beyond in their efforts to innovate sustainable stewardship. This year, the firm was named to the 2021 Top 100 Sustainable Corporations.
As of 12/31/20, Agnico Eagle Mines was held in the Knowledge Leaders Strategy.