Episode 65 of the Down to Business podcast from the Financial Post
This spring, for a brief period, Agnico closed seven of its eight mines as a preventative measure to stop the spread of coronavirus. But Boyd said the company’s commitment to vigilant testing and safety measures has paved the way for it to resume mining operations.
Although gold prices dipped briefly near the start of the pandemic to around US$1,450, there’s been a roughly 30 per cent rise overall since the beginning of the year, and Boyd predicted Canada’s gold miners would be careful about how to use the extra cash, and would wait before investing in mines that only make economic sense at the current elevated gold price.
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