Nunavut mine pours 1st gold bar

Nunavut'snewest goldmine produced its first gold bar over the weekend, marking a milestone for owner Agnico-Eagle Mines Ltd.

The gold bar, weighing 8,134 grams (287 ounces) was poured at the company's Meadowbank gold mine near Baker Lake on Saturday.

"The target is to produce about 300,000 ounces per year, so we should pour, once a week, a few bars," on-site manager Denis Gourde told CBC News on Monday.

The Meadowbank property is located about 110 kilometres by roadnorth of Baker Lake in Nunavut's Kivalliq region.

About 500 people currently work at the mine site, including construction workers, but that number is expected to drop to 340 when the mine begins regular production.

Officials with the Toronto-based company say the open-pit mine is expected to produce gold until 2019.

Meadowbank now becomes Nunavut's newest and only operating mine. The territory's last mine, Tahera Diamond Corp.'s Jericho mine, suspended operations in 2008 due to financial constraints.