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Not many new gold mines on the way, Agnico-Eagle CEO Boyd says

Section: Daily Dispatches

By Kevin Stankiewicz
CNBC, New York
Wednesday, November 27, 2019

While demand for gold remains strong, building mines has grown more difficult over the last decade, the CEO of a Canadian miner told CNBC's Jim Cramer on Tuesday.

"It's a lot tougher now than it was 10 or 15 years ago," Sean Boyd said on "Mad Money."

Several factors contribute to the increasing difficulty, including the geographic realities of opportune locations, Boyd said.

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"The deposits that are being found now ... are found in parts of the world that lack infrastructure, are in parts of the world where countries may not want you there," Boyd said. "That's why it's also getting more challenging to find deposits."

Even if those challenges are met, there are more hurdles on the other side, Boyd explained, pointing to "mostly permitting" associated with tougher environmental regulations.

"That's another thing which limits supply. The lead time to build these assets is a lot longer, the capital required to build them a lot larger," he said. "That just makes it more difficult." ...

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