Canada's largest gold mine, an open pit in northern Ont., looks to expand underground
Canada's largest gold mine, an open pit in northern Ont., looks to expand underground
In one of the company’s first public addresses since merging with Kirkland Lake Gold in February and becoming the third-largest gold miner in the world (ranked by Canadian Mining Journal for the first half of 2022), Andre Leite, Agnico Eagle’s Ontario vice-president, said he sees more growth potential in northeastern Ontario.
That’s what he told local stakeholders at the Timmins chamber’s State of Mining conference Wednesday afternoon, saying there’s potential to dramatically boost output at Canada’s largest gold mine: the Detour Lake open pit.
It is currently producing more than 20 tons a year and Leite said production can be increased to more than 30 tons by developing an underground mine at the site.
"It’s still early stages," Leite said in an interview.
"We’re still working towards the more detailed analysis of what that will look like, what type of mine rates and the technical details, but we do see the potential."
In his presentation, Leite highlighted more than $1 billion spent on goods and services, most of which stayed within the region, as well as $115 million invested in mining exploration.
One of its newer projects is the Upper Beaver gold mine near Kirkland Lake, expected to begin production in 10 years and generate just under eight tons of gold per year.
As well, the company is expecting decades of extra mine life from its Macassa mine, itself more than a century old and produces some of the highest-grade gold in the world.
Though Leite lamented the region’s skilled labour shortage stifling some of that progress.
"Generally our vacancy rate’s between five and 10 per cent and changing over time," Leite said.
"The current government is being very receptive to our ideas on what can we do … increasing the quality of life … including more of the first nations communities in our workforce."
He said the region has much work to do to become more attractive to southern Ontario workers.
Training demands are also a challenge that needs overcoming, Leite said, noting that Detour Lake will need at least 150 workers, though it can only train 40 per year itself.
Asked about partnering with other companies to invest in training, infrastructure, health care and other areas that would improve quality of life for northern communities near its work sites, Leite said it can be difficult to coordinate due to differences in urgency felt between companies.
He said Agnico and others may ultimately need to make those investments, along with government and community involvement, even if it may not financially suit them in the short term.
Given the potential for business growth in the area, Timmins chamber president Dan Ayotte said he believes the company can help find solutions.
"They can play a huge role by helping us build new complexes, bring in new stores, work on the housing," Ayotte said.
"The more they spend, the more it snowballs."
Agnico and Pan American Silver are set to jointly acquire one of the world’s largest gold mines, Canadian Malarctic, based in Quebec.
Leite said while extra capital from the move may not directly benefit northern Ontario, it is a sign that the company is willing to make strategic investments and allocate capital to competitive markets like Ontario.
He said its operations in this region have enough cash flow to fund its projects and potential community improvement plans.
A senior government official says a Canadian military assessment team is on its way to Turkiye in the wake of a devastating earthquake that's killed thousands.
A man has been arrested and two children are dead after a driver crashed a city bus into a daycare in Laval, Que. Wednesday morning. The deadly crash sent multiple children to area hospitals and parents scrambling to find their kids shortly after they dropped them off for the day at the Garderie éducative Sainte-Rose, north of Montreal.
Many Canadians are experiencing strains caused by the increased cost of living and inflation. In his exclusive column for CTVNews.ca, contributor Christopher Liew shares some of the top credits and deductions that you may be able to claim on your income tax return to help you save money.
In a first for the Bank of Canada, it has released a summary of deliberations by its governing council regarding its policy decision to raise its key interest rate target by a quarter of a percentage point to 4.5 per cent in January. Here are five key takeaways from those discussions.
Netflix Canada is rolling out its long-anticipated plans to crack down on password sharing, saying it will begin notifying Canadian users today by email about limitations.
The way respiratory viruses have circulated this fall and winter, most Canadians could probably benefit from a hand-hygiene refresher. Here are the latest hand-washing best practices to apply in your daily life.
Condolences are pouring in on Parliament Hill after a Laval, Que., city bus crashed into a daycare on Wednesday morning, with federal politicians of all stripes expressing their sympathies with the families affected and gratitude to the first responders.
Protracted labour shortages in Canada could fuel more rapid wage growth and inflation over time, potentially prompting the need for higher interest rates long-term, a new RBC Economics report released Wednesday said.
Ontario's Police watchdog released new details about the evening two South Simcoe police officers were shot and killed in an Innisfil house in October.
An Ontario lawyer who filed a $229-million lawsuit against his former “sugar baby” for alleged fraud had his case dismissed after the court found he'd become "obsessed" with the young woman when she attempted to end their arrangement.
An Ontario grocery chain said they are seeing an “unprecedented” surge in customers after a recent TikTok revealing the company’s low food prices went viral.
A man has been arrested and two children are dead after a driver crashed a city bus into a daycare in Laval, Que. Wednesday morning. The deadly crash sent multiple children to area hospitals and parents scrambling to find their kids shortly after they dropped them off for the day at the Garderie éducative Sainte-Rose, north of Montreal.
A memorial has been set up in the area where 30-year-old Karen Cunningham’s body was found, as police in Woodstock continue to investigate her death as “suspicious” in nature.
Former London, Ont. high school teacher Dustin Epp, 48, was supposed to appear for his sentencing hearing Wednesday afternoon, but the matter has been delayed until next week due to health-related concerns and to give Epp more time to prepare his legal defence.
A 20-year-old driver from London, Ont. is temporarily without a licence after OPP stopped them for allegedly driving 145 km/h in a 60 km/h zone on Tuesday night.
A thief was siphoning fuel from trucks on York Street in London before a massive fire broke out in a storage yard. U-Haul told CTV News London an explosion occurred at 745 York St. around 1 a.m. Hours later, a photographer from the London Police Service Forensics Division was on scene taking photos of charred vehicles.
As Canada’s premiers rush to absorb the impact of this funding, healthcare leadership in Windsor-Essex is also curious how it will impact the many systemic issues that plague our system.
A man has been arrested and two children are dead after a driver crashed a city bus into a daycare in Laval, Que. Wednesday morning. The deadly crash sent multiple children to area hospitals and parents scrambling to find their kids shortly after they dropped them off for the day at the Garderie éducative Sainte-Rose, north of Montreal.
Condolences are pouring in on Parliament Hill after a Laval, Que., city bus crashed into a daycare on Wednesday morning, with federal politicians of all stripes expressing their sympathies with the families affected and gratitude to the first responders.
Justin Trudeau has thrown in the towel in the fight to maintain the federal role as gatekeeper of a public, universal, accessible and fair health-care system in Canada, writes former NDP leader Tom Mulcair in an exclusive column for CTVNews.ca. 'That could have tragic consequences for folks on the lower rungs of the social and economic ladder.'
Nova Scotia Health is under the microscope after eight employees were found snooping into medical records. The privacy breaches involve the electronic health records of people associated with the April 2020 mass shooting in Nova Scotia, among others.
The federal government is putting up $500,000 for a feasibility study into a potential search for the remains of two Indigenous women at a Winnipeg-area landfill.
An annual $5 payment to members of seven First Nations has remained the same for more than 150 years, but one man is hoping to change that. Zongidaya Nelson is suing the federal government for 11 billion dollars on the behalf of his Roseau River Anishinabe First Nation, and the six other First Nations in Manitoba that signed Treaty 1 in 1871.
The Calgary Police Service asked residents of a northwest neighbourhood to shelter in their homes as officers responded to a situation Wednesday morning involving a firearm.
Animal welfare advocates are urging pet owners to spay and neuter their pets after two kittens were found abandoned in a child's backpack in the St. Albert area last week.
There are more signs that tensions are high in British Columbia’s health authorities as an outspoken doctor on Vancouver Island has faced professional repercussions and nearly all the critical care doctors at a northern hospital have resigned.
Crews are scheduled to begin upgrade work on Vancouver's Granville Bridge next week, but officials are promising the impacts on traffic will be minimal.
The latest B.C. Labour Market Outlook forecasts employment in the province will reach 3.1 million jobs by 2032 – half a million more than there were last year.
