NYSE: AEM 44.64
+0.81 +1.85%
Volume: 1,490,296
March 27, 2017
TSX: AEM 59.71
+1.05 +1.79%
Volume: 725,390
March 27, 2017
Gold: 1,254.79
-0.26 -0.02%
Volume:
March 27, 2017

Strategy overview

Agnico Eagle is determined to make a significant and positive difference in the communities where we operate and in the lives of our employees.

This commitment is founded on our core values – to operate safely, protect the environment, and treat our employees and communities with respect:

  • Respect for our employees: We aim to maintain a safe and healthy workplace that is based on mutual respect, fairness and integrity.
  • Protect the environment: We aim to minimize the effects of our operations on the environment and maintain its viability and its diversity.
  • Operate safely: We believe that all loss due to accidents/incidents is preventable. We aim to operate a safe and healthy workplace that is injury and fatality free. We believe that if we all work together, we can achieve zero accidents in the workplace and enhance the well-being of employees, contractors and communities.
  • Respect for our communities: We aim to contribute to the social and economic development of sustainable communities associated with our operations.

We integrate health, safety, environment and social acceptability into all aspects of our business strategy and management principles. Our strategy and reporting program targets five areas: health and safety of employees and contractors; environmental issues related to waste and water management, tailings and mine closures; employee and stakeholder engagement; direct economic value to key stakeholders; and governance matters.

Sustainable Development at Agnico Eagle – The Nunavut Experience

Agnico Eagle is determined to make a significant and positive difference in the communities where we operate and in the lives of our employees. This video is the first in a series will highlight our activities in each of our operating regions and provide a first-hand perspective from members of the community as well as our employees.

Sustainable development – health, safety, environment and social acceptability – is integrated into our business strategy and our management principles. For Agnico Eagle, it is a non-negotiable item of good management.

At the core of our Sustainable Development program we are committed to creating value for our shareholders while operating in a safe, and socially and environmentally responsible manner, while contributing to the prosperity of our employees, their families and the communities in which we operate. This has translated into the four fundamental values of our Sustainable Development Policy: operate safely, protect the environment, and treat our employees and communities with respect. These values have helped us build a solid foundation from which we can continue to grow our business.

We measure our performance using the Global Reporting Initiative’s (GRI) G4 sustainability reporting guidelines, to a self-declared A Level. To learn more about our overall sustainability performance, click here to see our 2015 performance details.

Click here to learn more about our in-house Responsible Mining Management System (RMMS) and the many standards Agnico Eagle adheres to.

Keeping our people safe is our most important priority

We aim to operate a safe and healthy workplace that is free from injury and fatality (zero harm). We believe all lost time due to incidents and accidents is preventable and that by working together, we can achieve zero accidents in the workplace and enhance the well-being of our employees, contractors and communities.

2015 was the safest year in Agnico Eagle’s history with fewer lost-time accidents, and with three of our sites – La India, Meadowbank and Meliadine – recording zero lost-time accidents. Throughout the year, we celebrated each week that we reached our company-wide goal of a triple-zero accident frequency – that is zero fatalities, zero lost-time accidents and zero light-duty accidents. By year-end, we had achieved 16 weeks of triple-zero accident frequency, as compared to 7 weeks in 2014.

Our long-term goal is to strengthen our health and safety culture with more individual accountability and leadership to reach the ultimate goal of a workplace with zero accidents. We are also committed to improving overall employee awareness of health issues, including work-life balance and stress awareness and management. To learn more about our health and safety performance and priorities, click here.

Did you know?

  • 2015 is the sixth year in a row Agnico Eagle has posted our lowest ever combined lost time and restricted work frequency rate.
  • Each of our operations has its own Emergency Response Plan, equipment and personnel trained to respond to safety, fire and environmental emergencies. Site teams train regularly and undergo simulation exercises in order to be ready for an emergency.
  • Our Goldex mine is currently piloting a new safety monitoring system to improve the detection of people working underground in order to avoid collisions and near misses between mobile equipment and pedestrians in our underground mines.
  • We regularly work with external third-party experts to audit our major charter flight providers in order to ensure we are achieving high safety standards in the transportation of our employees.

Building a path toward sustainability

We aim to minimize the effects of our operations on the environment and to maintain its viability and diversity. We focus on limiting our environmental impacts by using natural resources efficiently, by preventing or limiting emissions and by reducing waste. Each of our operations is required to manage its environmental risks and work in a transparent manner with local stakeholders, building a foundation of trust and cooperation.

We made modest progress in 2015 on reducing our overall use of water and diesel fuel, as well as in decreasing our average GHG emission intensity for all of our operating mines.

We conducted a formal external review of our tailings storage facilities during the year. The review confirmed that our facilities are operating in a safe and responsible manner and that we have the appropriate protocols and systems in place to effectively manage and mitigate any risks associated with managing our tailings facilities. It also identified areas where we needed improvements or technical clarifications. We are currently reviewing these recommendations and developing our action plans. We also strengthened our HSEC standards by continuing to build our Responsible Mining Management System (RMMS) and by our leadership and adherence to MAC’s TSM protocols.

We will continue to advance our tailings and water management strategies, and plan to implement a formal quarterly review of water management at all our operations. To learn more about our environmental performance and priorities, click here.

Did you know?

  • Our Kittila mine is building a district heating system – similar to a centralized heating system used in cities in Finland – to take advantage of its waste heat, reduce its overall costs and minimize its carbon footprint. The site will connect several buildings and warehouses and will replace a mine air ventilation heating plant that runs on fuel. Already, the system has achieved 1,600 MWh in energy savings.
  • In 2015, Meadowbank consumed the lowest amount of fresh water in its operating history. How did it achieve this milestone? Mill employees introduced a comprehensive water recirculation program, reusing as much reclaimed water as possible in order to reduce the site’s use of fresh water.
  • Our Mexican operations have helped plant over 6,500 trees near the Creston Mascota site, following a major forest fire during the last dry season. Pinos Altos maintains a tree nursery on-site and annually harvests more than 100,000 seedlings to meet the needs of its progressive reclamation program.
  • Canadian Malartic and the Akasaba project are partnering with the Quebec government to protect and save the population of woodland caribou that inhabit the Val-d’Or area of Quebec. Pregnant females are captured and transported into a pen at a local biodiversity reserve where they can give birth without being exposed to predators like wolves. The newborn caribou and their mothers are then released back into their natural habitat a couple of months later. The long-term goal is to build the herd up to 50 caribou.
  • Pinos Altos has helped develop a reference book to improve local knowledge of flora in the Sierra Madre Occidental mountain range of Chihuahua. The book identifies 142 documented plant species, including species of economic interest – such as blackberry, wild blueberry and stevia – which could be a watershed finding for the future of the region, and an economic alternative which could directly benefit the local population creating new jobs and alternative livelihoods.

Making it work

What sets Agnico Eagle apart from our peers is our determination to develop and invest in our people. We understand that our ability to execute our business strategy is highly dependent on employing the best people and motivating them to reach their potential.

As our organization prepares for further growth, we are enhancing our leadership development program, providing employees with increased opportunities for career development, and expanding training and development opportunities at all levels of our organization to help our employees succeed in this increasingly complex and exciting industry. We place a particular emphasis on health and safety training, to ensure that our employees are achieving Agnico Eagle’s workplace health and safety standards.

Our long-term goal is to hire 100% of our workforce, including our management teams, directly from the local region in which each of our global operations is located. In northern Canada, we remain focused on creating sustainable jobs and careers in mining for the Inuit population. We have developed work readiness programs for new recruits and career path planning programs for our Inuit workforce – a key factor in the training component of the IIBA for the Meliadine project. Approximately 35% of our Meadowbank mine workforce is drawn from the Kivalliq region of Nunavut.

To learn more about our employment performance and priorities, click here.

Did you know?

  • Two women at Agnico Eagle marked significant achievements in 2015: Louise Grondin received a lifetime achievement award for her efforts in advancing the field of mining and the environment while Carol Plummer was named to the Top 100 Global Inspirational Women in Mining for 2015.
  • The Paul Penna Award is awarded annually to Agnico Eagle employees who best exemplify the philosophies of our founder, who was deeply involved in his local community. We have established this award to ensure his values and legacy lives on in our organization.
  • Agnico Eagle has made a major investment in Mining Matters’ Aboriginal Education and Outreach Programs to help demonstrate to young people that there are interesting jobs, careers and a future for them in the North, and that the mining industry can be a key source of those opportunities.
  • Meadowbank employee Langway Putulik recently became the first Nunavut Land Claims beneficiary to complete his apprenticeship with Agnico Eagle and to obtain a Red Seal endorsement on his Certificate of Qualification (COQ) as a welder. The Red Seal Program represents industry’s recognition of an interprovincial standard of excellence for the skilled trades.
  • In 2015, 6,710 people worked for Agnico Eagle, either as employees or as contractors, at our sites worldwide (excluding Canadian Malartic).

Building trust and understanding

We act in a socially responsible manner and contribute to the communities in which we operate in order to make a difference in their everyday lives. We are committed to working with our employees and other stakeholders to create growth and prosperity, which allows all stakeholders to benefit from our mining activities.

Agnico Eagle is fully committed to increasing transparency in our business and to gaining social acceptance for our development projects. In July 2015, after three years of dialogue, we signed an Inuit Impact Benefit Agreement with the Kivalliq Inuit Association for the Meliadine gold project. This landmark agreement paves the way for greater participation of Inuit in the mining workforce and supports the development of Inuit entrepreneurship. We also implemented an Aboriginal Engagement Policy for our Canadian operations and in 2016, we plan to implement a global Indigenous Peoples Engagement Policy – both will guide our consultation practices and define the mitigation strategies we will use while engaging with Indigenous groups impacted by our presence and mineral activities.

Our community investment program continues to target initiatives that enable each of our operating communities to benefit from economic development in their region, even after mining ceases. Our goal is to provide both Agnico Eagle and our host communities with optimum returns on our community investments. In 2015, we invested almost $3.4 million in strategic health, education and capacity-building initiatives.

To learn more about our community performance and priorities, click here.

Did you know?

  • Since 2009, Agnico Eagle’s community investments have totalled more than $21 million.
  • We provide unique cross-cultural training programs at our Meadowbank site, including lessons on the traditional way of building an igloo, which have played a big role in Inuit culture and way of life.
  • Each year our operations host Open Houses, often bringing neighbours, employees and their families underground or using new technology to give them a virtual below-ground experience.
  • La India formalized its community relations program and with education identified as the local priority, our team restored a school in Matarachi which, in turn, encouraged 50% of the students who contemplated leaving to come back.

Building on solid ground

At Agnico Eagle, we believe the biggest contribution we can make to the wellbeing of the communities in which we operate is through the creation of long-term employment opportunities and the provision of economic development opportunities.

Our operations contribute to the social and economic development of our host communities and countries through the wages and benefits we provide to employees, the taxes we pay to all levels of government, our procurement of local goods and services, and our support to indigenous suppliers of goods and services. We are proud that Agnico Eagle’s gold mining activities are building a social and economic legacy for present and future generations.

Agnico Eagle is a strong supporter of the Canadian mining industry’s disclosure of payments to government initiative, which is a direct response to increased public demand for more transparency. We will continue to increase our level of disclosure on tax payments to governments in order to highlight our economic contribution to public finances.

To learn more about the economic value we generate click here.

Did you know?

  • In 2015, Agnico Eagle generated USD$1.985 billion in revenues and distributed USD$1.12 billion in direct economic value to our host communities and countries.
  • Cobalt is the town that helped launch and build Agnico Eagle. In 2015, we honoured that heritage by pledging $1 million to the “Historic Cobalt Legacy Fund”.
  • In Nunavut, we are giving a hand up to local businesses who want to compete for contracts at Meliadine. We’ve established a 15-point preference program that awards local businesses preference based on, for example, Inuit ownership, Inuit profit participation, and the level of Inuit participation in the contractor’s workforce.
  • We are proud that our Meadowbank operations have already attained a 35% Inuit workforce participation rate, generating $20 million in annual wage income for Kivalliq Inuit Association communities, and that 40% of our local purchases go to Inuit companies.
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Our sustainability stories