One of the world’s largest gold producers is ready to invest more in Canada.
Fresh off the Canada Investment Summit, Amber Kanwar sits down with Ammar Al-Joundi, President & CEO of Agnico Eagle Mines Limited, for a wide-ranging conversation about Canada’s changing investment climate, the outlook for gold and why he believes this could be a pivotal moment for the country’s resource sector.
Al-Joundi says Agnico Eagle is already spending more in Canada—and that recent changes have given the company greater confidence to deploy capital here. He discusses the company’s US$2.5 billion investment at Hope Bay in Nunavut, the potential impact of faster project reviews and why jurisdictional certainty has become increasingly valuable to global investors.
They also dig into what has made Agnico Eagle stand out in the gold industry, from its focus on politically stable mining regions to its balance-sheet discipline and what Al-Joundi calls the company’s “culture of the heart.” He explains why Agnico prioritizes growth on a per-share basis, how it plans to increase production by roughly 20 to 30 percent into the early-to-mid 2030s, and why acquisitions remain a selective part of the strategy.
Plus, Al-Joundi explains why he remains constructive on gold despite its recent pullback, why he views himself as a “hard asset bug” rather than a gold bug, whether the Bank of Canada could ever buy gold again, and why Agnico Eagle sees a major opportunity in Canadian critical minerals.
It’s a conversation about gold, growth and whether Canada’s resource sector is entering a new era.
Timestamps
00:00 Trailer
01:42 Intro
04:07 Agnico Eagle CEO on What the Investment Summit Meant for Canada
04:56 Why Jurisdiction Matters to Investors
07:31 Canada’s Economic Shift
09:12 The Sea Change in Government Support
11:20 Mining, Defense, and Nunavut Infrastructure
14:09 Can Canada Approve Projects in One Year?
16:05 Will New Policies Drive More Investment?
18:32 What Still Needs to Change in Canada
20:28 Why Agnico Eagle Has Outperformed
22:03 The Culture Behind Agnico Eagle’s Success
24:17 A Regional Strategy for Long-Term Growth
26:00 Agnico Eagle vs. Barrick’s Strategy
27:04 The Lessons of Mining’s Boom-and-Bust Cycles
29:33 What’s Driving Gold Prices?
34:01 Could the Bank of Canada Buy Gold Again?
35:07 Managing Inflation and Rising Mining Costs
39:39 Agnico Eagle’s Production Growth Plans
41:48 Will Agnico Eagle Make More Acquisitions?
43:09 The Best Mining Regions in the World
46:25 Agnico Eagle and Critical Minerals
49:18 Financing Canada’s Resource Future
51:17 The CEO’s Hobby Farm
52:02 Closing Thoughts
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DISCLAIMERS
The information provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions.
In the Money delivers expert stock picks, actionable ideas, and timely money management tips. Hosted by business journalist Amber Kanwar, each episode features interviews with top portfolio managers who suggest ways to achieve good returns. Covering everything from ETFs and Canadian stocks to global investing trends, dividend strategies, and risk management, this show is made for DIY investors, stock market enthusiasts, and anyone looking to sharpen their financial strategy.
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