Agnico Eagle reports record gold production in 2022; net income increases to $670 million gold mining
- Agnico Eagle , one of the top global gold miners, today announced record annual gold production and operating cash flow resulting from solid operational performance across the recently integrated asset portfolio.
In the full year 2022, the company reported net income of $670.2 million . This compares with the full year 2021, when net income was $561.9 million . Importantly, the company reported that its gold mineral reserves increased by 9% to a record level of 48.7 million ounces of gold, primarily due to significant additions at Detour Lake as well as successful conversion of mineral resources at several other operations.
“The expected cost increases in 2023 are mostly related to inflationary pressures on labour, electricity, fuel and consumables. The company expects some easing on input costs to occur later in 2023 and, combined with increased gold production, unit costs are expected to be lower in 2024 and 2025,” the company said.
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