Ammar Al-Joundi

Ammar Al-Joundi became President and CEO of Agnico Eagle Mines in February 2022, following the completion of the transformative merger with Kirkland Lake Gold. A Lebanese-Canadian who joined Agnico Eagle in 1998 after a career in investment banking, Al-Joundi served as CFO and then Senior Vice President before ascending to the top role. His financial background and deep institutional knowledge made him the natural choice to lead the combined entity. The Kirkland Lake Gold merger, announced in September 2021 and closed in February 2022, was one of the most significant deals in gold mining history. It combined Agnico Eagle's Canadian and international operations with Kirkland Lake's high-grade Detour Lake and Macassa mines in Ontario and the Fosterville mine in Australia. The merged company produces approximately 3.4 million ounces of gold annually, making it the world's third-largest gold miner behind Newmont and Barrick. What distinguishes Agnico Eagle under Al-Joundi's leadership is the jurisdictional quality of its mine portfolio. Every operation is located in Canada, Australia, Finland, or Mexico — all countries with stable mining frameworks and rule of law. This stands in stark contrast to competitors like Barrick Gold (which operates in politically volatile jurisdictions including the Democratic Republic of Congo and Papua New Guinea) and gives Agnico a significant risk premium advantage. Al-Joundi's strategic priorities include integrating the Kirkland Lake assets, optimizing the Canadian Malartic mine (one of Canada's largest gold mines, now fully owned), and advancing organic growth projects. Gold prices at record highs above $2,300/oz provide a strong revenue tailwind. The key investor thesis is that Agnico Eagle's combination of Tier 1 assets in safe jurisdictions, disciplined capital allocation, and dividend growth makes it the premier gold equity for institutional investors seeking precious metals exposure without geopolitical risk.