Agnico Eagle acquired ownership of the Upper Beaver Project and the broader Kirkland Lake exploration properties in March 2018. The project is located approximately 25 kilometres east of the town of Kirkland Lake in northeastern Ontario and builds on a site with a long history of gold and copper mining within the Abitibi greenstone belt. 

As of July 2024, the Upper Beaver Project entered the advanced exploration phase, representing a key milestone in its development. In parallel, Agnico Eagle is advancing impact assessment work and evaluating the potential development of an underground and open‑pit gold‑copper mining operation, including a standalone mill and tailings storage facility. Safety excellence remains a priority, with the project. Safety remains a core focus across all project activities, with a strong emphasis on safe planning, disciplined execution, and protecting workers, communities, and the environment. 

Looking ahead, the Upper Beaver Project represents approximately $2.2 billion in potential investment and could support more than 1,500 long‑term jobs, contributing to sustainable economic growth in the region.

Vale Base Metals safely completed the construction and commissioning of the US$2.94 billion Voisey’s Bay Mine Expansion Project in December 2024. Located in Newfoundland and Labrador, the Voisey’s Bay Mine Expansion (VBME), represents the transition of Voisey's Bay from an open-pit mine to underground mining. The project involved the development of two underground mines, Reid Brook and Eastern Deeps, that will supply concentrate for processing at the Long Harbour Operations site, one of the lowest-emission nickel processing plants in the world. In addition to the increased nickel production, the project will add 20 ktpy of copper and 2.6 ktpy of cobalt. This project highlights Vale Base Metals’ commitment to fostering social and economic development, including local employment generation, procurement, capacity building, and Indigenous partnerships.