Agnico Eagle CEO: Not a Gold Bug, Bullish on Gold
Agnico Eagle CEO Ammar Al-Joundi told VanEck’s Trends with Benefits podcast he is bullish on gold, citing supply constraints and advances in mining technology.
Ammar Al-Joundi, chief executive officer of Agnico Eagle Mines, told VanEck’s Trends with Benefits podcast on May 12, 2026, that he is bullish on gold while saying he is not a gold bug. He attributed his outlook to limited supply and recent advances in mining technology.
Al-Joundi pointed to trends in discovery and production that have tightened supply. He noted that fewer large new deposits have been found and that production growth has not kept pace with demand, affecting overall availability.
He discussed technological developments being adopted in the mining industry, including digital mapping, automation and improved exploration methods. Al-Joundi noted these technologies change cost structures, can raise recovery rates and influence where and how companies invest in projects.
The episode covered gold’s role in financial portfolios and as a store of value. Al-Joundi addressed how investors and institutions weigh allocations to the metal and how market supply dynamics and operating costs factor into those decisions.
He connected those market themes to operational choices at Agnico Eagle, noting efforts to use remote sensing, data analytics and mechanization to improve exploration success and lower per-ounce costs.
Agnico Eagle operates mines across several jurisdictions and is led by Al-Joundi. The interview is part of VanEck’s Trends with Benefits series; the episode was published May 12, 2026, and is available through VanEck’s content hub.
