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Agnico Eagle presentation
NUNAVUT : AGNICO EAGLE’S LONG TERM VISION September, 2015 Rankin Inlet Trade Show AGNICO EAGLE | CORPORATE UPDATE | 4 AGNICO EAGLE IN NUNAVUT AGNICO EAGLE | CORPORATE UPDATE | Nunavut vision 5 Meadowbank Mine - Operation • Vault pit expansion extends Meadowbank production to Q3 2018 • Production gap associated with possible satellite operation at Amaruq reduced by 1 year AGNICO EAGLEMining | CORPORATE UPDATE | Nunavut Symposium 6 Meadowbank – 5 years of improvement Meadowbank’s Health and Safety statistics are on the good track Combined Lost Time and Temporary Assignment Frequency* 6 5.16 5 4 Over 4 Million hrs without Lost Time Injury 3.48 3 1.93 2 1 1.06 0.5 0 2011 2012 2013 2014 Sep-15 Meadowbank’s lessons and success can be leveraged in new Agnico projects in in Nunavut * Per 200 000 worked hours Meadowbank - Operating Cost (C$/tonne treated) 110 100 95 91 90 80 88 73 -25% 70 Average of 83 71 5 years 5.0% per year 60 50 2010 2011 2012 2013 2014 2015 Forecast AGNICO EAGLE | CORPORATE UPDATE | 7 AMARUQ Amaruq Project Key exploration project located 50 km north of Meadowbank mine • Meadowbank +/- 50km Road proposal +/- 60km Drilling program • • • 2013 2014 2015 $0.6 million $12 million $30+ million • Gold resource Feb 2015 1,4 million Oz Sept 2015 2 million Oz • Amaruq deposit may be viable because existing Meadowbank infrastructure and workforce can be leveraged (maintenance shops, mill, camp and airstrip) • Current Amaruq schedule would begin production in Q3-2019; Permitting process is the major time constraint in project schedule • The Company is asking regulatory agencies to consider more expedient regulatory processes Whale Tail zone surface expression 300m AGNICO EAGLEMining | CORPORATE UPDATE | Nunavut Symposium 9 Regional Exploration Developing new targets along the belt 2013 – 500 ha 2014 – 10,000 ha 2015 (Arial +Ground) – 68,000 ha AGNICO EAGLE | CORPORATE UPDATE | 10 2014 Field Program Identified New Targets Along The Trend AGNICO EAGLE | CORPORATE UPDATE | 11 February – March 2015 Major winter road hauling program - 300 loads Amaruq 90 km Winter road AGNICO EAGLE | CORPORATE UPDATE | 12 Amaruq Exploration Camp AGNICO EAGLE | CORPORATE UPDATE | 13 Meliadine Project Most advanced mining project in Nunavut • High grade, large mineral inventory project • • • Proven & Probable reserves = 3.4M oz Indicated resources = 3.3M oz Inferred resources = 3.3M oz • Proposed Open pit & UG mining • 9 years Life Of Mine • 911 US$ initial Capex • IIBA signed on July 2013 with KIA • Permitting activities are ongoing and final approvals are expected in early 2016 • Construction could begin in 2016 following Board approval and production could begin in late 2019 AGNICO EAGLE Mining | CORPORATE UPDATE | Nunavut Symposium 14 SCHEDULE – CONSTRUCTION January 2014 Y-6 January 2015 Y-5 January 2016 Y-4 January 2017 Y-3 PreConstruction January 2018 Y-2 January 2019 Y-1 January 2020 Y+1 Construction Period Civil Works Camp complex Truck Shop & Warehouse Process Plant Barge Season 2018 Barge Season 2017 Barge Season 2016 Barge Season 2015 Barge Season 2014 Power Plant Commissioning Ramp Up 15 AGNICO EAGLE | CORPORATE UPDATE | 15 MELIADINE SITE OVERVIEW Camp Complex Kitchen Truck Shop Process Plant Power Plant Ore Storage Crushig Plant Worker Dry Warehouse Assay Lab Ramp Portal 16 AGNICO EAGLE | CORPORATE UPDATE | 16 CIVIL WORKS FOR 2015 Civil Earthwork in 2015 17 AGNICO EAGLE | CORPORATE UPDATE | 17 CIVIL WORKS FOR 2015 Piling Works for 2015 18 AGNICO EAGLE | CORPORATE UPDATE | 18 CIVIL WORKS FOR 2015 Structural steel floor works for spring 2016 19 AGNICO EAGLE | CORPORATE UPDATE | 19 TRAINING ACTIVITIES UPWARD MOBILITY PROGRAM Building careers since 2013 in partnership with the KMTS Over 32 500 hours of training for Inuit employees in 2014 138 promotions Initial targets achieved at 300% (target was 40 promotions). AGNICO EAGLE | CORPORATE UPDATE | 20 TRAINING INITIATIVES UPWARD MOBILITY PROGRAM 138 Inuit promotions in 2014 AGNICO EAGLE | CORPORATE UPDATE | 21 TRAINING INITIATIVES CAREER PATH PROGRAM Implementation of the First Career Path in 2012 61% of whole Mine Department workforce are Inuit employees No external hiring of hourly employees Southerners since the implementation of the Career Path AGNICO EAGLE | CORPORATE UPDATE | 22 TRAINING INITIATIVES CAREER PATH PROGRAM The core tool of our Nunavut training program. Field services Road Maintenance Building Mechanic Process Plant Driller AGNICO EAGLE | CORPORATE UPDATE | 23 TRAINING ACTIVITIES APPRENTICESHIP PROGRAM Cook Evolution of Apprenticeships Addition of 11 more apprentices in 2015 Year New trades available in 2015 : Cook Welder Carpenter Electrician Kitchen facility to be built in Rankin Inlet in collaboration with Nunavut Arctic College and Kivalliq Mine Training Society (KMTS) 2012 2013 Carpenter Number of Active Apprentices Millwright 4 Electrical8 Heavy Duty Equipment6Technician 2014 2015 Welder 17 First Lands Claim Beneficiary to challenge and succeed Red Seal Exam with Agnico Eagle Langway Putulik Completed 4 year Millwright apprenticeship program AGNICO EAGLE | CORPORATE UPDATE | 24 TRAINING INITIATIVES SUCCESS STORIES AGNICO EAGLE | CORPORATE UPDATE | 25 TRAINING INITIATIVES SUCCESS STORIES AGNICO EAGLE | CORPORATE UPDATE | 26 TRAINING INITIATIVES SUCCESS STORIES AGNICO EAGLE | CORPORATE UPDATE | 27 TRAINING INITIATIVES SUCCESS STORIES AGNICO EAGLE | CORPORATE UPDATE | 28 NUNAVUT’S PROMISING POTENTIAL Agnico Eagle could have two large gold mines in Kivalliq by 2020 $2+ billion in new investments over next 5 years Potential for over $500M/yr in operating costs in Nunavut A total of at least 600 Inuit employed = $54M+ payroll per year AEM’s Nunavut platform can generate around $65M in Canadian tax revenues annually Payroll taxes to GN around $7.0 Million per year Property Taxes paid to GN around $2.5 Million per year AGNICO EAGLE Mining | CORPORATE UPDATE | Nunavut Symposium 29 TAKEAWAYS: AEM has a multi decade strategy for Nunavut: • Nunavut platform can be a cornerstone for Agnico Eagle for several decades. • Could secure a production base of 700koz annually • Meadowbank’s lessons and success can be leveraged in new Agnico projects in in Nunavut • The Amaruq project may extend the life of Meadowbank by many years • Multiple stakeholders required to narrow the gap between Meadowbank (2018) and Amaruq (2019) • Meliadine remains a significant potential catalyst for AEM’s growth in Nunavut AGNICO EAGLE Mining | CORPORATE UPDATE | Nunavut Symposium 30 agnicoeagle.com
