Agnico Eagle Mines Limited (AEM) announced the successful completion of the previously announced plan of arrangement pursuant to which Agnico Eagle has acquired certain subsidiaries and partnerships which hold Yamana Gold Inc.’s (AUY) interests in its Canadian assets, including the Canadian Malartic mine. As part of the arrangement, Pan American Silver Corp. (PAAS) has acquired all the issued and outstanding common shares of Yamana. With the completion of the arrangement, the company now owns 100% of the Canadian Malartic mine, 100% of the Wasamac project located in the Abitibi region of Quebec and several other exploration properties located in Ontario and Manitoba. The company’s 2023 production and costs guidance, which assumed 50% ownership of Canadian Malartic for the first three months of 2023 and 100% ownership for the last nine months of the year, is in line with the actual completion date of the arrangement.
Published first on TheFly
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