Canadian Miner Agnico to divest cobalt assets, sells gold interests
Agnico Eagle’s Meliadine project in Kivalliq District, Nunavut Territory, Canada.
Canadian miner Agnico Eagle Mines Ltd on Thursday said it is planning to divest all of its cobalt assets in Canada and that it sold some gold interests in the United States.
Agnico said it also started a strategic review on selling about 2,100 hectares of the Coleman and the South Lorrain cobalt-rich properties in Canada.
The company sold its gold interests in Nevada to a unit of Newmont Mining Corp for $35 million and for certain smelter royalties.
U.S.-listed shares of the company were down 1.5 percent at $43 in extended trading.
Reporting by Ahmed Farhatha in Bengaluru; Editing by Bernard Orr.
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