Gold News

Record gold reserves at Agnico-Eagle

Canadian gold miner Agnico-Eagle Mines Ltd was able to report record reserves in 2007.

By the end of last year, the firm had reached a record 16.7 million ounces in proven and possible gold reserves. That figure represents a growth of one-third on the amount reported at the end of 2006.

The biggest driver behind the growth was Agnico-Eagle's acquisition of Cumberland Resources, which added 2.9 million ounces of gold resources in April.

Also contributing to the success were the company's developments and the acquisition of the Meadowbank project.

Most of Agnico-Eagle's growth projects exist in Canada. However, it also has operations at Pinos Altos in Mexico and Kittila in Finland.

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