Agnico pushes into Finland with $3.7 billion trio of gold deals
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The transactions are aimed at consolidating Agnico’s position FinlandAuthor of the article:You can save this article by registering for free here. Or sign-in if you have an account.Agnico Eagle Mines Ltd. plans to spend $3.7 billion to acquire three gold projects in northern Finland, expanding the Canadian miner’s footprint in the Scandinavian country.Subscribe now to read the latest news in your city and across Canada.Subscribe now to read the latest news in your city and across Canada.Create an account or sign in to continue with your reading experience.Create an account or sign in to continue with your reading experience.The Toronto-based company will buy Rupert Resources Ltd. and Aurion Resources Ltd., and separately purchase B2Gold Corp.’s 70 per cent stake in an exploration joint venture with Aurion, according to a statement on Monday.The transactions are aimed at consolidating Agnico’s position Finland, where it already owns Kittila — Europe’s largest primary gold mine. The acquisition of Rupert Resources will add the Ikkari project to Agnico’s portfolio, while buying the Fingold joint venture from Aurion and B2Gold will deliver a large land package in the Central Lapland belt, an area the Canadian miner sees as highly prospective for exploration.Shares of Agnico fell as much as 3.3 per cent in New York as markets opened on Monday.The move follows comments earlier this year from Agnico chief executive Ammar Al-Joundi that the company is “willing to move” on deal-making, marking a shift from its previous focus on growing output from existing mines. The company is now the world’s second-largest producer of gold, after surpassing Barrick Mining Corp. in last year’s output figures.Agnico says it expects to build a “multi‑decade gold production hub” in Finland capable of producing about 500,000 ounces annually, the company said on Monday. Integrating Ikkari with its Kittila mine will generate as much as US$500 million in operating and development synergies, it added.Bloomberg.comPostmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information.365 Bloor Street East, Toronto, Ontario, M4W 3L4© 2026 Financial Post, a division of Postmedia Network Inc. All rights reserved. Unauthorized distribution, transmission or republication strictly prohibited.This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.You can manage saved articles in your account.and save up to 100 articles!You can manage your saved articles in your account and clicking the X located at the bottom right of the article.