Gold Miner Agnico Eagle commits to spend $10.2 billion in Ontario, Canada by 2030
13/05/2026 19:26
By Divya Rajagopal TORONTO, May 13 (Reuters) - Canadian miner Agnico Eagle has committed to spending $10.2 billion by 2030 towards exploration, development, and operations in gold mining in Ontario, Canada, the provincial government said on Wednesday. Here are some of the details. Agnico to invest an additional $1.46 billion to expand production at its Detour Lake and redevelop the Upper Beaver gold-copper mine. Detour Lake is Canada's largest gold-producing mine, according to the government of Ontario statement. The investment in Detour Lake will be used to extend the life of the mine until 2054. These investments are expected to create up to 1,600 jobs and add $3.65 billion to Ontario’s GDP. The Ontario government has vowed to cut red tape for mining companies to speed up projects. (Divya Rajagopal in Toronto; Editing by Aurora Ellis) ((divya.rajagopal@thomsonreuters.com, Phone- +16472628751))