DBRS Releases Report on Agnico-Eagle Mines Limited

DBRS has today released a report providing further details on the recent confirmation of the Issuer Rating of Agnico-Eagle Mines Limited (Agnico or the Company) at BBB (low). At the same time, DBRS changed the trend on the rating to Positive from Stable.

Agnico’s rating is underpinned by its cost-competitive operations – especially the LaRonde mine, which is a low-cost, internationally competitive gold producer with an expected mine life of approximately 15 years at planned production rates, and increasingly augmented by five new mines brought into production since 2008. In terms of net cash costs per ounce of gold produced (after by-product credits), Agnico’s operations are expected to be, on average, in the lower half of the gold mining industry, providing robust cash margins at current gold prices.

Notes:
All figures are in U.S. dollars unless otherwise noted.

The applicable methodology is Rating Mining, which can be found on our website under Methodologies.