Agnico Eagle Mines Ltd. Feb. 15 said its board of directors has approved the development of Amaruq and Meliadine, two new gold mines in Nunavut.

Amaruq is to be developed as a satellite to Agnico's Meadowbank Mine, which lies about 50 kilometers (31 miles) to the southeast.

Going into 2017, Amaruq hosted 16.9 million metric tons of open pit indicated mineral resource averaging 3.88 grams per...