Agnico-Eagle Mines Limited Annual Report 2007
2007 Highlights
Operations At-a-Glance
Letter to Shareholders
Growth Strategy
AEM in Canada
AEM in Finland
AEM in Mexico
Corporate Responsibility
Environmental Stewardship
Care and Concern for People
Corporate Governance
Form 20-F (PDF)
Shareholder Information
Why Invest?
  Corporate Responsibility  
     
  In a year characterized by rapid growth and lead-up to production, we have maintained a steadfast commitment to creating economic prosperity in safe, socially and environmentally responsible ways. Although the lifespan of our activities is finite, we aim to invest in skills, social development and economic benefits that outlive these activities, and to contribute to a sustainable environment.  
     
 

Environmental Stewardship

Agnico-Eagle depends on the natural environment to achieve financial success and deliver societal value. It is our policy to preserve and protect our natural resources by implementing sound environmental management systems and processes at all stages of our business activities, and by pursuing continuous improvement in our environmental performance.
Energy Efficiency
In 2007, the LaRonde division was honoured for its participation in Hydro-Québec’s energy efficiency program which resulted in a 6% reduction in energy consumption – exceeding our 5% reduction target – and savings of approximately $700,000. The main savings were achieved through improvements to the underground ventilation system so that it automatically shuts off at the end of each shift, and a more efficient water intake system.

Environmental Protection in Nunavut
As we explore and build at our recently-acquired Meadowbank project, we have tailored our approaches to protect the unique environment and wildlife of this region located within the eastern Arctic. We have redirected road construction so as not to disturb the nesting habits of migratory birds. We are taking precautions to protect the fragile tundra such as using helicopters to move drills between sites. In addition, we are leveraging the expertise of our team that has operated for decades in northwestern Quebec in difficult climactic conditions.

ENVIRONMENTAL PROTECTION IN KITTILA
At Kittila, in northern Finland, we are contributing to the long-term maintenance of the local fisheries through an annual seeding of fries in the river, conducted with the help of a local sport­-fishing organization. We are including waste-rock modelling in the open-pit planning, to ensure that each type of waste rock is managed to achieve the best environmental results. We have constructed a starter dam to contain the process tailings and are preparing a thorough tailings characterization program for the first three years of operation to further optimize tailings management.

CONTINUOUS IMPROVEMENT IN QUEBEC
In 2007, we improved the efficiency of our water treatment plant and made further process improvements. This biological treatment facility represents the final stage in a series of treatments designed to ensure that water released back into the environment meets all applicable water quality standards. We also embarked on the first phase of a partnership program with the Quebec government which will see the rehabilitation of an orphaned acid-generating tailings site through the use of neutralizing tailings from our Goldex mine. This phase comprised the construction of ditches to divert water away from the contaminated tailings and of dikes to contain them.

  
     
 
In 2007, we reduced LaRonde energy consumption by 6%.
This amounted to a $700,000 cost savings.