Pinos Altos is Agnico-Eagle’s first mine in Mexico. It poured its first gold in July 2009 from the Santo Nino heap leach, and in September 2009 from the mineral processing plant. The mine achieved commercial production in November 2009, and underground mining began in Q2 2010.  The stand-alone Creston Mascota satellite operation poured its first gold in December 2010, and achieved commercial production on March 1, 2011. Pinos Altos (including Creston Mascota) has proven and probable reserves containing 3.1 million ounces of gold and 88.5 million ounces of silver* (46.8 million tonnes grading 2.1 grams/tonne gold and 58.9 grams/tonne silver) as of December 31, 2011.

* Source Pinos Altos December 31, 2011 Reserves and Resources including Creston Mascota

Q1 2012  

• In Q1 2012, record payable gold production of 57,016 ounces at a total cash cost per ounce of $278 from mill and heap leach pads. Also produced 507,000 ounces silver. Processed 1,234,000 tonnes of ore, of which 782,000 tonnes was stacked on leach pads. The Pinos Altos mill averaged 4,967 tonnes/day in this period. Minesite costs were $26 per tonne.
• April 2012 approval of $106-million project to sink production shaft, to be completed in 2016. Shaft expected to increase underground capacity from current 3,000 tonnes to 4,500 tonnes/day in preparation for the winding up of surface mining operations, as planned in the next several years.
• Exploration focusing on the Creston Mascota / Bravo, Sinter and Cubiro satellite zones.