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Mar 25, 2020

Agnico Eagle putting Quebec mines on maintenance, withdraws forecast

Agnico, Yamana abandon production and cost outlooks

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TORONTO -- Agnico Eagle Mines Ltd. is ramping down operations in Quebec's Abitibi region including the LaRonde complex, the Goldex mine and the Canadian Malartic mine as non-essential businesses shut down in the province.

The gold miner is also withdrawing its full year 2020 production and cash costs guidance.

Agnico Eagle says the Quebec mines will be placed on care and maintenance until April 13 as mining operations have been ordered to minimize their activities in an effort to slow the spread of COVID-19.

It also says it will reduce activities at the Meliadine and Meadowbank mining operations in Nunavut, which are serviced out of Quebec.

Exploration activities in Canada will also be suspended during the period.

Agnico Eagle says its Mexican and Finnish mines continue to operate at normal levels.