Goldex is part of the chain of operations and properties that Agnico-Eagle owns in the Abitibi region of Quebec. The mine has more than 1.5 million ounces of gold in reserves, with good potential for more.
The mine and processing plant are located in Val d’Or, Quebec, some 60 kilometres east of the LaRonde mine. This proximity allows for operating synergies between the two sites, helping to make Goldex one of our lowest-cost producers.
Commercial production was achieved in 2008. Goldex currently mines and processes 6,900 tonnes of ore per day, producing approximately 160,000 ounces of gold a year. In 2009, an expansion to 8,000 tonnes per day was approved. Starting in 2012, Goldex will churn out an average of 173,000 ounces of gold annually
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In 2009, the Board of Directors approved an expansion of the production rate of the Goldex mine from 6,900 to 8,000 tonnes per day. The $10-million project, mainly involving the addition of a surface crushing plant, will result in an additional 20,000 ounces of gold per year over the mine life. Construction began in Q4 2009, and the ramp-up to 8,000 tonnes per day should be complete in late 2011. We expect to extend the mine life of Goldex beyond 2017, in spite of the increased mining rate, by focusing on turning resources such as the nearby Main zone into reserves.
H
istory
1990
– The Goldex Extension Zone (GEZ) is discovered.
1997
– A study concludes that the deposit would not be economic to mine at the prevailing gold price. The property is placed on care and maintenance, and the workings are allowed to flood.
2003
– The Goldex project is re-evaluated, reviewing the method used to estimate grade and potential mining and processing methods.
2004
– Based on a new reserve and resource estimate for GEZ and a revised feasibility study, Agnico-Eagle undertakes a $4.7-million underground bulk-sampling program. The bulk sample returns a grade about 10% higher than the earlier grade.
2005
– A new reserve and resource estimate is completed for the GEZ which, coupled with a revised feasibility study, leads to a probable reserve estimate of 1.6 million ounces of gold contained in 20.1 million tonnes of ore grading 2.54 grams per tonne gold. Agnico-Eagle approves construction of the Goldex mine.
2008
– Construction of the Goldex mine is completed and first gold poured on May 7. Commercial production is achieved in August.
2009
– In its first full year of operations, Goldex mill operates at levels above design capacity with average throughput of approximately 7,200 tonnes per day.