The Kitikmeot’s Doris North gold mine on the Hope Bay property will not be churning out gold in 2022, Agnico Eagle Mines announced on Friday afternoon.
Operational activities will be ramped down over the coming weeks. Instead, the company is devoting its efforts to exploration and expansion activities at Hope Bay.
“Agnico Eagle believes that this is the best approach to enable us to realize the full potential of both the mine and its large land package,” the mining firm stated in a news release. “The company understands the impacts of this decision but remains focused on doing the right thing to continue operating our mines safely and sustainably in the Nunavut region of Canada.
Doris North hasn’t been milling gold since the second Covid-19 outbreak at the site in October.
Agnico Eagle acquired Hope Bay on Feb. 2, 2021. The primary objective was to operate the mine on a break-even basis while gaining a better understanding of the technical aspects, equipment and exploration potential at the location, 125 km southwest of Cambridge Bay.