The Goldex mine is located in Val-d'Or, Quebec, some 60 kilometres east of AEM’s LaRonde mine and employs about 300 people. This proximity allows for operating synergies between the two sites, helping to make Goldex one of our lowest-cost hard rock underground mines in the world. The mine has 1.6 million ounces of gold in reserves, with an aggressive exploration program underway. Following an expansion in 2010, Goldex now produces about 8,000 tonnes of ore per day.
Ground stability issues caused production to be suspended in October 2011. Since suspension, work on site has focused on monitoring, assessment and remediation, and exploration has continued on several other mineral zones on the property. The M and E zones were approved in July 2012 for development, and first ore production is expected in 2014.
The mine is expected to produce about 179,000 ounces of gold annually throughout its remaining life.