06:04 AM EST, 12/22/2017 (MT Newswires) -- Agnico Eagle Mines (AEM) said late Thursday it has agreed to acquire all of the Canadian exploration assets of Canadian Malartic, a corporation 50-50 owned and operated by Agnico Eagle and Yamana Gold (AUY), for $162.5 million in cash.

Under the deal, Agnico Eagle will acquire all of Yamana's indirect 50% interest in the exploration assets of Canadian Malartic. Agnico Eagle will acquire 100% of Canadian Malartic's exploration assets located in Ontario and Quebec in Canada other than its interests in Canadian Malartic GP and the Canadian Malartic mine.