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Agnico Eagle could displace Barrick from No. 2 gold ranking
From Bloomberg News
Friday, February 14, 2025
Agnico Eagle Mines Ltd. is threatening to snag the title of world’s second-largest gold producer from one of its top rivals.
The Canadian mining company aims to churn out 3.3 million to 3.5 million bullion ounces this year, according to full-year earnings posted Thursday. That’s on par with Barrick Gold Corp., which is currently the No. 2 gold miner.
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Barrick expects output to decline while its giant mining complex in Mali remains shut. Newmont Corp., by far the world's top producer, expects to produce 6.4 million ounces in 2025.
Agnico Chief Executive Officer Ammar Al-Joundi shrugged off the potential change in rank, insisting size doesn't factor into the company's strategy. "We've never cared about whether we're bigger than these guys or those guys," said Al-Joundi, a former Barrick executive, in an interview today. ...
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