Agnico Eagle to Build $1.7 Billion Gold Mine in Canada’s Arctic

Agnico Eagle Mines Ltd. is moving ahead with a large gold mine in Canada’s far north, a project being hailed by Prime Minister Mark Carney’s government as an anchor for economic development in the strategically important Arctic region.

The company gave the green light to the Hope Bay mine and plans to spend about C$2.4 billion ($1.7 billion) on initial capital costs, according to a news release Tuesday.