About this episode
Ammar Al-Joundi, President and CEO of Agnico Eagle Mines (NYSE: AEM; TSX: AEM), says the company is in its strongest financial position after a record 2025. Speaking with Kitco Mining at the 35th BMO Global Metals, Mining & Critical Minerals Conference in Florida, Al-Joundi highlighted roughly $4.4 billion in free cash flow, about $950 million in debt repayment, and $1.4 billion returned to shareholders in 2025.“Our job is to give them as much of that increase as possible,” he said, adding Agnico delivered “over 95%” of the gold price increase to its owners through cost discipline and operating performance.Looking ahead, Al-Joundi outlined a plan to increase production 20 to 30% over the next decade, targeting more than 4 million ounces annually in the early 2030s, with growth anchored by Detour Lake, Canadian Malartic, Hope Bay, and Upper Beaver. He said the company expects to make a go-ahead decision on Hope Bay in May and plans to return about 40% of free cash flow to shareholders this year while maintaining full exposure to gold prices.Don’t forget to subscribe to the Kitco Mining & Kitco News YouTube channels to stay up to date on the latest industry news and interviews.? Special thanks to our sponsor, First Majestic Silver. To learn more, visit https://firstmajestic.com01:05 - Record 2025 Results: Safety, Cost Control, and Margin Discipline02:39 - 10-Year Growth Plan: Four Projects Targeting 4M+ oz03:56 - Detour Lake Expansion: Underground Mining to Reach 1M oz04:46 - Canadian Malartic: Higher-Grade Replacement for Open Pit06:44 - Capital Allocation Strategy: IRRs, 15% Hurdle Rate and Discipline08:28 - Free Cash Flow Returns: “It’s our owners’ cash” and 40% Target10:28 - Dividends in a Cyclical Gold Business and Reserve Growth14:42 - Cost Control, Gold Outlook, and No Hedging Policy__________________________________________________________________Kitco Mining is dedicated to reporting on the mining industry. Our mandate is to be the top resource for all mining information and news, offering a clear perspective on where the industry is going through breaking news coverage, mining trends, and in-depth reporting, presented with precious, rare earth, base metals, and industry stock prices.Get important precious and base metal updates while on the go with the Kitco Gold LIVE! app - https://applications.kitco.comStay connected with usX - https://x.com/KitcoMiningInstagram - https://www.instagram.com/kitcominingLinkedIn - https://www.linkedin.com/company/kitco-miningFacebook - https://www.facebook.com/KitcoMiningConnect with the Kitco Mining anchorsPaul Harris - https://x.com/paulharrisgold For more in-depth mining coverage, visit us here - https://www.kitco.com/miningDisclaimer: Videos are not trading advice, and the views expressed may not reflect those of Kitco Metals I
