Published: October 31, 2025 |

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High-ranking senior gold producer Agnico Eagle Mines is diversifying its interests by creating a critical minerals mining unit.

Announced alongside Agnico’s Q3 results, Avenir Minerals will be established with an investment of $50 million in cash. It will be comprised of the company’s portfolio of non-gold and non-copper assets, which is currently estimated to be valued at $80 million, and any new critical mineral projects.

“Avenir is expected to become an independent and self-sustaining entity with a mandate to pursue strategic partnerships and government support to help fund and advance future opportunities,” Agnico said in a statement.

In the realm of critical minerals, Agnico Eagle’s primary assets include a 10.4 percent equity stake in the early-stage nickel-cobalt and platinum group elements prospector Canada Nickel Company and the LaRonde Complex in Quebec. Aside from gold, LaRonde produces zinc: an element recognized as a critical mineral by the Canadian government. Canada Nickel holds one of the world’s largest undeveloped nickel deposits in Ontario.

Agnico holds an 8 percent stake in Fuerte Metals — a company with a zinc project in Mexico. Agnico has not provided a detailed list of the assets comprising the $80 million dollar sum specified.

The news follows Agnico Eagle investing $180 million into antimony and gold miner Perpetua Resources this week. Antimony is a critical mineral in high demand at the moment and Perpetua is shaping up to become a critical supplier.

“By formalizing its critical minerals strategy through the establishment of Avenir, the company aims to realize value from early-stage assets and opportunities. This initiative reflects the company’s disciplined approach to capital allocation while preserving optionality in the long-term potential of critical minerals,” Agnico said in a statement.

The major operator reported record adjusted net income totaling $1.09 billion in Q3, largely driven by the high price of gold.

Agnico Eagle is Canada’s largest gold mining company with an expansive portfolio of production assets in Quebec, Ontario, and Nunavut. These mines are complemented by a portfolio of Canadian exploration-stage projects and international operations in Australia, Finland and Mexico.

Agnico is the world’s third largest gold producer by output behind Newmont Corporation and Barrick Mining. The company sold almost 3.5 million ounces last year.

Source: Mugglehead Magazine

Agnico Eagle Mines is a Canadian based and led senior gold mining company and the third largest gold producer in the world, producing precious metals from operations in Canada, Australia, Finland, and Mexico. It has a pipeline of high-quality exploration and development projects in these countries as well as in the United States. Agnico Eagle is a partner of choice within the mining industry, recognized globally for its leading environmental, social and governance practices. The company was founded in 1957 and has consistently created value for its shareholders, declaring a cash dividend every year since 1983.

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