Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Agnico Eagle’s production (NYSE:AEM) totaled 265,978 ounces, an increase of approximately 11% over the second quarter 2011 level of 239,328 ounces due to improved performance at Kittila Mine and Meadowbank Mine.
“For the first nine months of 2011, the Company produced a record 757,668 ounces of gold. This compares with the previous nine month record set in the first nine months of 2010 when gold production was 731,138 ounces,” said the company in a news release.
Last month Agnico Eagle acquired Grayd Resources for $275 million.
Image of Kittila from Agnico Eagle
