Agnico Eagle Mines Limited
Agnico Eagle Mines Limited is a Canadian-headquartered senior gold producer with 9 producing mines: LaRonde, Canadian Malartic, Goldex, Detour Lake, Macassa and Meliadine/Meadowbank in Canada, Fosterville in Australia, Kittila in Finland, and Pinos Altos in Mexico. Its project list covers 4 of the largest -- Detour Lake, Canadian Malartic, LaRonde Complex and Fosterville -- plus the Ikkari gold project in Finland, acquired with Rupert Resources in June 2026; the full 9-mine portfolio is broader than these. Formed through the 2022 merger with Kirkland Lake Gold (which brought in Detour Lake, Macassa and Fosterville) and further built out via the 2025 acquisition of O3 Mining, which added the Marban deposit near Malartic. Ammar Al-Joundi has been President and CEO since Feb 2022 (previously Agnico's President from 2015, and CFO 2010-2012); David Smith is Senior VP, Finance and CFO. Year-end 2025 gold Mineral Reserves were 55.4 million ounces at 1.30 g/t, up 2.1% year-over-year including the initial Marban deposit declaration.
Notable vs. Peers
- All-in sustaining cost of $1,459/oz is 19% lower than the peer producer average of $1,810/oz.
Lifecycle Milestones
Construction Milestones
5 of 5 reached- Reached — date not disclosed · Source
- Reached — date not disclosed · Source
- Reached — date not disclosed · Source
- Reached — date not disclosed · Source
- Reached — date not disclosed · Source
Milestones are recorded only from a company's own dated disclosure. A milestone with no date shown is one we can confirm was reached but for which no date was disclosed — we don't estimate one. "Not yet reached" means exactly that, not that a date is missing. An "Expected" line likewise only ever reflects the company's own guidance (e.g. a study or permit decision targeted for a stated quarter) — most not-yet-reached milestones have none, and that absence means no such guidance has been disclosed, not that one is overdue.
Not yet determined: grid power.
Not yet determined: grid power.
Not yet determined: road access, grid power.
Combined view across 5 projects. Figures below are only combined where the underlying basis genuinely matches -- see the notes under each.
- 18%Detour Lake
- 24%Canadian Malartic Complex
- 38%Ikkari Project, Sodankylä, Northern Finland
- 30 yrsDetour Lake
- 20 yrsCanadian Malartic Complex
- 14 yrsLaRonde Complex
- 20 yrsIkkari Project, Sodankylä, Northern Finland
Jurisdiction (40%)9/10
Ontario: Fraser PPI 2025 is 93.70 of 100 (rank 5 of 68), which maps to 9 on this site's scale. Agnico Eagle's portfolio is concentrated in top-tier jurisdictions -- 7 of its 9 producing mines are in Canada, plus Finland (Kittila) and Mexico (Pinos Altos) and one mine in Australia (Fosterville).
Infrastructure (40%)10/10
A confirmed mill, confirmed road access, confirmed grid power, and a confirmed tailings facility at Detour Lake.
Nearby producing mine (20%)Not yet researched
No producing mine within 50 km in our reference list (nearest listed: Casa Berardi (Hecla Mining Company), 60 km). That list doesn't cover every mining district yet, so a longer distance isn't scored as remote.
Acquisition Susceptibility
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
No pending acquisition or merger disclosed (checked)
Not scored: having no deal in flight isn't held against a company.
Weight 26.25% - Producer's strategic stakeSub-score: Not scored
No producer holds a disclosed stake on file (holder register researched) See holders
Not scored: most juniors that do get bought had no prior toehold, so a missing stake says little either way.
Weight 25% - Distance to a producing mineSub-score:4.7/10
Nearest producing mine: Casa Berardi (Hecla Mining Company), 60 km
10 next to a producing mine, 8 at 20 km, 5 at 50 km, 0 beyond 200 km.
Weight 22.5% · 46% here - Lifecycle stageSub-score:5.5/10
Stage: Production
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 31% here - JurisdictionSub-score:9/10
Canada: jurisdiction score 9/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 14% here - CommoditySub-score:10/10
Primary commodity: Gold
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 9% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
Your Rankings
Management Team
President and Chief Executive Officer of Agnico Eagle Mines Limited since 23 Feb 2022. Previously President from Apr 2015, and Senior VP & CFO from Sep 2010 to Jun 2012. Between his two Agnico stints, served as Chief Financial Officer of Barrick Gold Corporation (Jul 2012-Feb 2015, also Executive Vice President and, from Jul 2014, Senior Executive Vice President); before that spent ~11 years at Barrick in increasingly senior finance roles, including Senior Vice President of Finance and Executive Director & CFO of Barrick South America.
Executive Vice President, Finance and Chief Financial Officer of Agnico Eagle Mines Limited since 1 May 2023, succeeding David Smith upon his retirement. Formally James R. Porter. Spent 18 years at Alamos Gold Inc., joining as Controller in 2005, promoted to Vice President of Finance in 2008 and Chief Financial Officer in 2011, a role held until his 2023 move to Agnico Eagle. Before Alamos, was Controller & Corporate Secretary at RNC Gold Inc. (a Central American gold producer) and began his career at PwC. Chartered Professional Accountant; named a CPA Ontario Fellow in 2022.
Independent Lead Director of Agnico Eagle Mines Limited since 2 June 2015. CPA, CA (Lakehead University, B.Comm.). President and CEO of Barrick Gold Corporation from June 2012 to September 2014, and CFO of Barrick from 1999 to June 2012. Also Chairman of Probe Metals Inc. and a director of Royal Gold, Inc.
Chair of the Board of Agnico Eagle Mines Limited. CPA, CA; joined Agnico Eagle in 1985, serving as President & CEO (1998-2005), Vice-Chairman & CEO (2005-2015) and Vice-Chairman & CEO again from April 2015, before moving to Chair. Under his leadership Agnico Eagle grew from a ~$400M to a $55B+ market-cap multinational producer with operations in Quebec, Finland, Mexico, Australia and Nunavut.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Not scored. Smart-money tracking covers companies below about US$5B in market cap, where a single specialist fund or strategic investor taking a stake is a meaningful signal. This company was above that size when it was assessed.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Agnico Eagle runs four separately studied mining complexes: LaRonde and Canadian Malartic in Quebec, Detour Lake in Ontario and Fosterville in Australia. At Canadian Malartic, the Odyssey underground project carries an after-tax NPV (5%) of US$1.60B and a 24% after-tax IRR at US$1,650/oz gold over a 20-year life (June 2023 study update). At Detour Lake, the underground expansion and mill upgrade to 29 Mtpa carry an after-tax NPV of about US$0.89B and an IRR of about 18% at US$1,900/oz, extending mine life to 2054 (June 2024). In June 2026 Agnico sold its 55% of the Barsele project and bought Rupert Resources, owner of the Ikkari gold project in Finland, so the company-wide figure of 106.4 Moz (55.4 Moz of reserves plus 46.9 Moz of additional measured and indicated resources from the 31 Dec 2025 statement, and Ikkari's 4.1 Moz of indicated resources) excludes Barsele and includes Ikkari.