The mine had poured first gold in February and achieved commercial production on May 14, the company said.
Agnico Eagle said total construction costs, after crediting pre-commercial gold sales, were well below the 2017 guidance of US$900 million.
It said it would provide a further update on capital costs in its second quarter results.
Meliadine is expected to produce about 230,000 ounces of gold this year at a cash cost of $612/oz, with the company anticipating record gold production in 2019 of 1.75 million ounces.
CEO Sean Boyd said the Amaruq gold mine, also in Nunavut, was on schedule to achieve commercial production in the third quarter.
Amaruq has been developed as a satellite operation to Meadowbank, with ore to be trucked 50km to the mill to replace the feed from the Meadowbank mine which is winding down.
Meanwhile the company said last month it was working with a coalition of Inuit representatives to help minimise Meliadine's reliance on diesel fuel.
"Wind energy is an option that would not only provide economic benefits, but also reduce our carbon footprint," Agnico Eagle Mines tweeted.
The company's shares are trading near a 52-week high and closed up 3.6% in New York yesterday to $45.15, capitalising it at $10.6 billion.