Agnico Eagle is acquiring all of Canadian Malartic’s gold exploration assets in Canada for $162.5 million, the company announced on Thursday.

In the deal, Agnico will get the Kirkland Lake project in northeastern Ontario and the Hammond Reef project near Atikokan in northwestern Ontario, as well as additional claims and assets in Ontario and Quebec.

Canadian Malartic is owned jointly by Agnico Eagle and Yamana Gold. Yamana is giving up its 50 per cent interest in the properties. The deal is expected to close in late March 2018.

The Canadian Malartic mine in Quebec’s Abitibi gold belt will not be affected by the deal, nor will its related assets of Odyssey, East Malartic, Midway and East Amphi.