Why One of the World’s Biggest Gold Miners Is Doubling Down on Canada

Ammar Al-Joundi (0:03)

We employ many thousands of Canadians. We could not get anybody from the previous government to ever come up to a mine opening. So imagine the sea change.

Amber Kanwar (0:13)

The CEO of one of the biggest mining companies on the planet joins us fresh off the Canada Investor Summit. Did any of this make Agnico Eagle more inclined to invest more?

Ammar Al-Joundi (0:22)

Yeah, it really does.

Amber Kanwar (0:23)

We've got Ammar Al-Joundi. The CEO of Agnico Eagle is talking about Canada's moment and the future of the second largest gold producer in the world.

Ammar Al-Joundi (0:30)

My job is to make you money. My job is not to get bigger.

Amber Kanwar (0:33)

Prime Minister Carney revealed that they're going to move one project, one review, one year. Is that a game changer for a company like Agnico? Do you ever think we'll see the Bank of Canada buy gold again?

Ammar Al-Joundi (0:44)

Yeah, I do, actually.

Amber Kanwar (0:45)

What do you attribute that to? That outperformance, the secret sauce of Agnico Eagle?

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The content 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 the 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. Hey everyone, welcome to a special episode of In the Money with Amber Kanwar. We are fresh off the Canada Investment Summit. I was one of two journalists that was allowed basically all access at the summit, which was the who's who of the TSX6C and Global Investors. I'm talking $120 trillion packed into one room to hear about why this is Canada's moment. The prime minister announced a number of changes, including a mega tax deduction on certain investments, as well as shortening the review time for all projects, not just the major projects. It was the kind of announcements that really shocked the room. I would say that the tone from investors was tentatively very excited. Everybody's giddy about our natural resources, and now our ability to finally get them out the ground and moving. I sat on a panel with the CEO of Cameco, the CEO of Tech Resources, and the CEO of Agnico Eagle to really tackle the critical minerals piece, which is a key part of the Canada Strong agenda. In this episode, we have an extended conversation with the CEO of Agnico Eagle, Ammar Al-Joundi, who says this moment is very real. He'll tell us in the podcast, he plans on spending more in this country, and he'll tell us a little bit more about why this gold producer is very interested in critical minerals. Let's get into it.

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Ammar Al-Joundi, thank you so much for joining me on the podcast.

Ammar Al-Joundi (4:07)

It's my pleasure, Amber, to be here.

Amber Kanwar (4:08)

Now, I had the pleasure of sharing the stage with you just yesterday. At the Canada Investment Summit, which was absolutely historic. $120 trillion in one room and everybody looking at Canada.

What did that summit, that moment feel like for you?

Ammar Al-Joundi (4:29)

I was very, I felt like a proud Canadian to have all of those investors around the world listening to our story. I was also, as a business person, very impressed with the Prime Minister and his team to set up something like this.

To my knowledge, it's the first time it's been done. And I think it's a reflection that this government that we have is business oriented and knows how to get things done or at least get things started.