Episode Details

President and CEO Ammar Al-Joundi is very satisfied with Agnico Eagle Mines' project pipeline. 

On Thursday Al-Joundi spoke to Kitco Mining. 

Agnico Eagle Mines (NYSE: AEM) is a Canadian based senior gold mining company. It's the third-largest gold producer in the world, producing precious metals from operations in Canada, Australia, Finland and Mexico. Agnico is guiding to 3.35 to 3.55 million ounces of payable gold production in 2024, with total cash costs per ounce and AISC per ounce in 2024 at $875 to $925 and $1,200 to $1,250, respectively. 

In June the company announced its plans for the Detour Lake Mine, located in Ontario. The company is spending $100 million investment over the next three years for study and de-risking. Detour Lake mine's overall production is expected to average one million ounces of gold per year over a 14-year period, starting in 2030.

Al-Joundi was asked about the likelihood of an acquisition. Al-Joundi said the company can afford to be choosy. 

"I've been in this business for almost 25 years. I've never been with a company with as strong a pipeline as we have right now," said Al-Joundi. "So at Agnico Eagle, we are going to focus on a small handful of really good projects for the foreseeable future."

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