Lates News

The CEO of gold producer Agnico Eagle Mines, Ammar Al-Joundi, stated that the company is in a "very advantageous position" and will pursue merger and acquisition deals when appropriate opportunities arise. This move signals a renewed openness to transactions after years of focusing on increasing production at existing mines. He stated during a performance conference call on Friday, "When we see opportunities that can truly enhance per-share value through M&A, we are willing to take action - and we have taken action." He added that the company has a "very deep understanding of various assets in the market." Al-Joundi had previously stated in September last year that the company is focused on organic growth and warned against pursuing "irresponsible mergers" solely due to high gold prices. The historic rise in gold prices has boosted cash flow for mining companies and pushed profit margins to all-time highs. Agnico Eagle surpassed Barrick Mining in annual production last year to become the world's second-largest gold producer.