Agnico Delivers $4.4B FCF, 40% Returns, 4M oz Plan | Ammar Al-Joundi

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 Inc.Disclaimer: The views expressed in this podcast 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 podcast do not accept culpability for losses and/ or damages arising from the use of this publication.