Agnico-backed Cartier lowers Cadillac spend in Quebec gold belt
Cartier reduced Cadillac gold project costs to $198M for an underground mine, yielding 100,000 oz. gold/year for 16.2 years.
Agnico-backed Cartier Resources has reduced the initial costs and extended the life of its Cadillac gold project in Quebec, according to a new preliminary economic assessment (PEA). The mine is projected to produce an average of 100,000 ounces of gold annually over 16.2 years, with an initial capital cost of nearly $198 million.
The updated PEA also considers a longer mine life of 16.2 years and a higher gold price scenario. The project's design prioritizes a fully underground mining operation to minimize its surface footprint and support responsible development. Agnico Eagle Mines holds about 27% of Cartier, making it the largest shareholder.
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