High-ranking senior gold producer Agnico Eagle Mines Ltd (TSE: AEM) (NYSE: AEM) (FRA: AE9) is diversifying its interests by creating a critical minerals mining unit.
Announced alongside Agnico’s Q3 results, Avenir Minerals will be established with an investment of US$50 million in cash. It will be comprised of the company’s portfolio of non-gold and non-copper assets, which is currently estimated to be valued at US$80 million, and any new critical mineral projects.
“Avenir is expected to become an independent and self-sustaining entity with a mandate to pursue strategic partnerships and government support to help fund and advance future opportunities,” Agnico stated.
In the realm of critical minerals, Agnico Eagle’s primary assets include a 10.4 per cent equity stake in the early-stage nickel-cobalt and platinum group elements prospector Canada Nickel Company Inc (CVE: CNC) (OTCMKTS: CNIKF) (FRA: 4E0) and the LaRonde Complex in Quebec. Aside from gold, LaRonde produces zinc: an element recognized as a critical mineral by the Canadian government.
Canada Nickel holds one of the world’s largest undeveloped nickel deposits in Ontario.
Furthermore, Agnico holds an 8 per cent stake in Fuerte Metals Corp (CVE: FMT) — a company with a zinc project in Mexico. Agnico has not provided a detailed list of the assets comprising the US$80-million-dollar sum specified.
The news follows Agnico Eagle investing US$180 million into antimony and gold miner Perpetua Resources Corp (TSE: PPTA) (NASDAQ: PPTA) this week. Antimony is a critical mineral in high demand at the moment and Perpetua is shaping up to become a critical supplier.
“By formalizing its critical minerals strategy through the establishment of Avenir, the company aims to realize value from early-stage assets and opportunities,” Agnico added. “This initiative reflects the company’s disciplined approach to capital allocation while preserving optionality in the long-term potential of critical minerals.”
The major operator reported record adjusted net income totalling US$1.09 billion in Q3, largely driven by the high price of gold.
Agnico Eagle is Canada’s largest gold mining company with an expansive portfolio of production assets in Quebec, Ontario, and Nunavut. These mines are complemented by a portfolio of Canadian exploration-stage projects and international operations in Australia, Finland and Mexico.
Agnico is the world’s third largest gold producer by output behind Newmont Corporation (TSE: NGT) (NYSE: NEM) (FRA: NMM) and Barrick Mining Corp (TSE: ABX) (NYSE: B) (ETR: ABR0). The company sold almost 3.5 million ounces last year.
Interesting tidbit from @agnicoeagle earnings release re: their early-stage critical minerals investments in Canada. Looking forward to seeing which Canadian critical minerals developers they've invested in to date and how Avenir (and Agnico) develops this business…… https://t.co/vdKwhxQDeF
— Howard Klein (@LithiumIonBull) October 29, 2025
Read more: NevGold Expands Gold-Antimony Potential at Limousine Butte in Nevada
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