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‘Strongest pipeline I've ever seen’ - Agnico Eagle Mines Ammar Al-Joundi benefits from gold upside

Kitco MediaKitco Media
By Michael McCrae and Paul Harris
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‘Strongest pipeline I've ever seen’ - Agnico Eagle Mines Ammar Al-Joundi benefits from gold upside teaser image

(Kitco News) - Cost containment is key, so investors benefit from high gold prices, said Ammar Al-Joundi, president and CEO of Agnico Eagle Mines.

Last week,  Al-Joundi spoke to Kitco Mining at the Gold Forum Americas / XPL-DEV 2024 in Colorado.

Agnico Eagle Mines Limited (NYSE:AEM) is a Canadian based gold mining company. It is the third largest gold producer in the world, producing precious metals from operations in Canada, Australia, Finland and Mexico.

With gold hitting several all-time highs in 2024, the company is reporting good financial results.

“We love the gold price and in particular we love all the cash flow we're generating for our owners,” said Al-Joundi. “This is a good time to be in this space. Our mines are running well. I've been in this business for 25 years. I've been in this business for 25 years. This is the strongest pipeline I've ever seen.”

Al-Joundi said cost control is critical.

“For us, it's essential…that when the gold price goes up, that money accrues to our shareholders,” said Al-Joundi.

Al-Joundi said he is not betting on copper or gold. The quality of the asset is all that matters.

“We're not setting a target,” said Al-Joundi. “Whatever position we have in copper is going to be driven by the opportunity to make money.”

Coverage of the Gold Forum Americas / XPL-DEV 2024 is sponsored by Metalla Royalty.

 

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Michael McCrae

Michael McCrae is leading Kitco's coverage of the mining sector. McCrae, who has both an MBA and CMA, knows how to build digital media properties. He was co-founder and publisher of MINING.com, an award-winning news site. Before coming to media, McCrae worked in IT and banking. Please reach out: mmccrae@kitco.com or (514) 670-1383. You can also follow him at @michaelmccrae.

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Paul Harris

Paul has more than 20 years of experience in the mining sector in investor relations, communications, research, and news reporting roles, and over 16 years of experience in the Colombia gold sector. Paul founded the successful CGS Copper and Gold Symposium in Colombia. He has written for the industry-leading publication ‘Mining Journal’ since 2015 and has been a Kitco Mining anchor since 2022. Previously, Paul spent five years in Chile reporting on the copper sector for CRU and Metal Bulletin. Paul received a BA in Business Administration from the University of the West of England, UK; and a MA in International Relations from the University of Chile, Santiago Chile. He is fluent in English and Spanish.

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Agnico Eagle MinesAmmar Al-JoundiGold Forum Americas / XPL-DEV 2024PodcastsgoldCopper

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Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.