60 Years in the making

The Cobalt Consolidated Mining Company reorganized and on October 25, 1957 renamed itself Agnico Mines Limited, forging its name from the chemical symbols for silver (Ag) nickel (Ni) and cobalt (Co). Shares of the newly formed company began official trading on the Toronto Stock Exchange later that same year on December 27th under the stock symbol AGE.

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Agnico constructs a 1,000 tonne-per-day reclamation plant to recover silver contained in the tailings that had been deposited in Cobalt Lake - nick-named the “million dollar lake” by the local community. Over a period of three summers, the Company recovers more than 600,000 ounces of silver from over 300,000 tonnes of waste material.

Production begins at the Joutel mining complex in northwestern Quebec, Joutel operates until 1993, producing approximately 1.1 million ounces of gold from the Eagle Gold Mine, Telbel and Eagle West mines.

Agnico Eagle increases its ownership interest in Dumagami Mines Limited, which owns the Dumagami project in northwestern Quebec.

Gold production begins at Dumagami mines with the first gold pour in June.

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In December, Agnico Eagle acquires the remaining shares of Dumagami Mines Limited. This enlarged company, with corporate headquarters in Toronto, operated two producing gold divisions.

In February, the Eagle Mine, located in Joutel, Quebec celebrated 15 years of continuous gold production. During that time, the Joutel Division, consisting of the Eagle Mine, and its contiguous Telbel Mine, produced close to one million ounces of gold from the mining and milling of some five million tonnes of ore.

Mining activities cease at the Silver division in Cobalt due to low silver prices. Over its 33 years of production, Agnico operated 23 silver and cobalt mines, producing 25 million ounces of silver.

In December, mining and milling activities cease at the Joutel gold complex. Joutel produced approximately 1.1 million ounces of gold from the Eagle Gold, Telbel and Eagle West mines between 1974 and 1993.

Agnico Eagle acquires Goldex Mines, owner of the largest undeveloped gold deposit in Quebec.

Agnico Eagle begins trading on the New York Stock Exchange with the trading symbol AEM.

Paul Penna is inducted into The Canadian Mining Hall of Fame.

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Agnico Eagle acquires the high-grade Lapa gold deposit, located near LaRonde in northwestern Quebec.

Ebe Scherkus, President of Agnico Eagle wins the Prospectors and Developers Association of Canada’s Viola R. MacMillan Award for leadership in management and financing for the exploration and development of mineral resources.

Agnico Eagle acquires Riddarhyttan Resources AB, owner of the Suurikuusikko gold deposit in Finland.

Agnico Eagle changes its trading symbol on the Toronto Stock Exchange from AGE to AEM.

Agnico Eagle acquires the Pinos Altos project in Mexico.

Agnico Eagle acquires Cumberland Resources and gains full control of the Meadowbank gold project in Nunavut, northern Canada.

Gold production begins at the Goldex mine in Val-d’Or, Quebec.

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Gold production begins at the Kittila mine in Finland, the Lapa mine in Canada and the Pinos Altos mine in Mexico.

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