Sustainable Development in Mining = Responsible Mining
The social context and acceptance of mining has evolved considerably over the last twenty years. Whereas previously, to mine responsibly simply meant to operate within regulatory constraints, nowadays a responsible miner has to take into account not only the legal obligations but the expectations of regulators, shareholders, community members and the public at large. The objective is to obtain and maintain the so-called “social license” to operate. How does this translate in the day-to-day activities of a mining company throughout the life cycle of a project ? What do we find today in the toolbox of the responsible mining manager? This is the subject of this presentation.
Louise Grondin, M.Sc., Ing, , P.Eng
Ms. Grondin is Senior Vice-President, Environment and Sustainable Development for Agnico Eagle Mines Limited, a position she has held since December 2010. Since joining Agnico in 2001, she was successively Environmental Manager for the LaRonde Division, Regional Environmental Manager for Abitibi and in 2007 joined the Corporate team as Vice-President Environment. Prior to that, Ms. Grondin was environmental superintendent for the Selbaie mine where she worked from 1993 to 2001 and from 1981 to 1993 she was with Ontario Hydro in Toronto where she worked in nuclear safety and environmental assessment. Ms. Grondin holds a B.Sc. in Physics from the University of Ottawa (1978) and an M.Sc. in Meteorology from McGill University (1980). She completed the mechanical engineering curriculum at the University of Toronto in 1984 and has been a member of OIQ in Quebec since 2001, and PEO in Ontario since 1984.
Agnico Eagle - Strategy
Build a high-quality, manageable business that generates superior long-term returns per share by:
- Increasing gold production in lower risk jurisdictions: We expect 2015 gold production, including the Canadian Malartic mine, of approximately 1.6 million ounces.
- Growing operating and free cash flows: Our goal is to increase net free cash flow through higher production, controlling operating costs and disciplined capital spending.
- Providing meaningful dividends: We have a history of paying dividends every year since 1983, and our goal is to increase the dividend over time.
- Minimizing share dilution: Traditionally, acquisitions and construction have been completed with minimal share dilution.
- Operating in a socially responsible manner: Our strategy is to create economic value by operating in a safe, socially and environmentally responsible manner while contributing to the prosperity of our employees and the communities in which we operate.
Our primary objective is to build a high-quality business focused on solid execution that drives growth in cash flow per share. Our strategy has been consistent for many years — to minimize financial and political risk while using our broad range of technical skills and experience to build long-life, manageable operations in recognized mining regions. This strategy has worked well for us and our owners over our 58 years, and we see no need to change our approach.
"Our operations continue to perform well, which allowed us to exceed both our production and cost guidance for the third year in a row. With projected year-over-year production growth of 12%, lower fuel costs and weaker local currencies anticipated in Canada, Mexico and Finland, we expect to have another strong year in 2015. It should also be an exciting year on the exploration front, with drilling activities underway at most of our mines, and significant programs planned at our Amaruq project in Nunavut and El Barqueno project in Mexico. Given the strong potential to expand the initial 1.5 million ounce resource at Amaruq, and the recent positive permitting news at Meliadine, we expect to unlock additional value from our Nunavut platform in 2015."
-Sean Boyd, President and Chief Executive Officer