Agnico-Eagle Mines Limited Kittilä Mine Presentation May 4th PDF

Agnico-Eagle Mines Limited Kittilä Mine Presentation May 4th 2011 Agnico-Eagle Mines Limited AEM has 52 years of operating history, dating back to 1957 when Agnico Mines Limited was founded In 1972, Agnico

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Agnico-Eagle Mines Limited Kittilä Mine Presentation May 4th 2011 Agnico-Eagle Mines Limited AEM has 52 years of operating history, dating back to 1957 when Agnico Mines Limited was founded In 1972, Agnico Mines merged with gold exploration company Eagle Gold Mines Limited to form today s AEM From inception, AEM has operated a quality business, always maintaining a healthy balance sheet and never selling its gold forward In 1994, AEM listed on the New York Stock Exchange In 2000, Completion of LaRonde s Penna Shaft, the deepest single-lift shaft in the Western Hemisphere In 2005, AEM acquires the Suurikuusikko gold deposit in Finland and signs an option agreement to purchase the Pinos Altos property in Mexico 2 Operations at a glance Six mines now operating. Located in mining-friendly regions of low political risk 100% owned, with low total acquisition costs Each region has long-term mining camp potential Fraser Institute s ranking 1 Fraser Institute s ranking 1 Fraser Institute s ranking 14 LaRonde QUEBEC, CANADA Goldex QUEBEC, CANADA Kittila KITTILA, FINLAND Fraser Institute s ranking 1 Fraser Institute s ranking 28 Fraser Institute s ranking 44 Lapa QUEBEC, CANADA Pinos Altos CHIHUAHUA, MEXICO Meadowbank NUNAVUT, CANADA Fraser Institute s 2008/2009 ranking of 71 mining jurisdictions 3 KITTILÄ MINE Kittilä Mine Location 55 km north of Kittilä 900 km north of Helsinki Excellent Infrastructure: roads, airports, communication Landholdings: 84 tenements (6,969 has) and one mining licence (847 has) Norway Murmansk Kiiruna Mine Kittilä 25 km Rovaniemi Sweden Russia KITTILÄ MINE - HISTORY 1986 First findings in the Suurikuusikko field by GTK 1998 Exploration started by Riddarhyttan Resources AB, a Swedish junior mining company 2002 Environmental permit for mining at Suurikuusikko (open pit and underground) granted by the Environmental Permitting authorities 2003 Mining license granted by the Ministry of Employment and Economics 2005 Agnico-Eagle Mines Limited became the sole owner of Riddarhyttan by 2005 and the exploration was expanded 2006 Upon completion of a final feasibility study, the decision to open the Kittilä Mine was made and the construction and development began 2008 First ore production in May and first concentrate in September 2009 The first gold pour on January 14th, The Grand Opening of the Kittilä Mine was on June 4th, 2009 KITTILÄ MINE from exploration to gold bullion Kittilä Mine Areal View Tailings Processing - Services Suuri Open Pit Kittilä Mine Ore Reserves Suurikuusikko Ore Lenses Longitudial Sections, N-S Proven and Probable Mineral Reserve (diluted, no ore loss) Mt Au, g/t Au, MOz (157 tonne) Indicated Mineral Resource (diluted, no ore loss) S Inferred Mineral Resource (not diluted, no ore loss) N 2 km 9 Kittilä Mine Mining Open pit mining during the forts 3-4 years Followed by underground mining Annual mining 1,100,000 tonnes of ore N 1 km 10 KITTILÄ mining MT 1,2 1,0 0,8 0,6 0,4 0,2 0, OP UG 11 OPEN PIT MINING Suurikuusikko and Rouravaara pits, 35 Mt Equipment: 1 AC ROC F9C rock drill 2 AC ROC L8 rock drills 3 Cat 385 excavators 1 Cat 345 excavator 7 Cat 777 trucks 2 Cat D6 / D8 bulldozers Waste mining started in September 2007 Ore Mining started May 2008 Geological parameters Dilution 15 % at 0.7 g/t Ore Recovery 95% 12 KITTILÄ MINE Suuri open pit, July 2010 14 OPEN PITS: BUFFER BLASTING 15 OPEN PITS: BUFFER BLASTING TUNNELING 5,268 m in ,000 m in ,040 m in ,000 m in 2011 (planned) Decline 90 m/month 5.5 m Gradient 1:7 5.3 m 16 MAIN LEVEL -350 Proposed shaft Ventilation raise (intake) Sump Fuel Bay Washing Bay Main Shop cafeteria Parking Services cable Warehouse Electrical station 17 18 MAIN UNDERGROUND LEVEL 350 Kittilä Mine Ore Processing 19 Kittilä Mill Control Room Kittilä Mill Production 2011 Ore Processing: Flotation Pressure Oxidation Cyanide Leaching Current Annual Production kg gold Kittilä Mine Mill Process Flow Sheet Processing - Simplified Flow Sheet Process Water in closed circuit ENVIRONMENT Neutralization I Flotation II Carbon-in-leach Process Water Tank Cyanide destruction Flotation Tailings Disposal C.I.L Tailings Disposal KITTILÄ MINE - Tailings Facility Construction of new tailings Area.(photos taken end of June 2010) All ponds lined with waterproof bitumen liners Kittilä Mine Kittilä Mine Environment Strengths in Environmental Protection: Sufficient human and financial resources Good cooperation with authorities, local associations and people living in the nearby villages Objectives: 100% Compliance Waste Rock Management Water treatment / water balance Tailing pond expansion Waste management - recycling Kittilä Mine Plant Site KITTILÄ MINE - LABOUR Kittilä mine personnel Currently 570 employees working at the mine site 370 own employees 55% residing in Kittilä and 86% residing in Lapland 200 contractor employees 15% from Kittilä and 41% from Lapland In addition in 2010, the mine employed 75 summer trainees The average age of own employee s is 39.3 years 14.3% of the employees are women KITTILÄ MINE - ECONOMIC IMPACT ON THE MUNICIPALITY The Economy of the Kittilä municipality is dependant on: The tourist industry and the Kittilä mine The tourist industry provides ca jobs for Kittilä residents, or 42% of Kittilä s total manpower resources (in total 1800 jobs during high season) The Kittilä mine provides 570jobs, about half from Kittilä, or 12% of Kittilä s total manpower resources The unemployment rate in Kittilä is below 10% on average - during high season 6% One mine employee provide jobs for three other persons The Kittilä annual municipal tax income is 3.5 M EUR and equal amount to the State Annual real estate tax paid by the Kittilä mine 0.2 M EUR Royalty payment to the State will be about 2 M EUR annually Corporation tax in the future will be about M EUR The Kittilä mine s annual turn-over is now about 150 M EUR - tourist industry s under 200 M EUR (in 2007) Kittilä Mine Kittilä Mine
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