Going concern

Sean Boyd, CA Vice-chairman & CEO
Agnico-Eagle Mines Ltd.

Company profile: The Toronto-based firm is a gold producer with six active operations, four in Canada, one in Mexico and one in Finland. Including its predecessors, it has been in business more than 50 years and currently has about 3,000 employees. In 2009, it expected to produce about 500,000 oz. of gold with total annual revenue of close to US$600 million.

Hot factor: Investors have pushed gold prices to historic new highs. In response, Agnico-Eagle is expanding operations to meet skyrocketing demand with new mines in the Canadian Arctic, Mexico and Finland. Recent corporate kudos include the Toronto-based Brendan Wood International TopGun CFO and TopGun Board awards, chosen out of a field of 750 worldwide firms. In January, the Harvard Business Review included chief executive Sean Boyd in its ranking of the 100 best-performing CEOs in the world.

Cool Projects: Frigid is a more apt description, with the firm’s recently launched open-pit mine in Nunavut.After reaching peak production it will employ 400 people,providing jobs and other opportunities for the local economy.The 40,000-hectare property offers bright future prospects; so far the firm has invested US$700 million in the property. To overcome the region’s lack of existing infrastructure, Agnico-Eagle built a 110-km all-weather road from Bakers Lake to the mine, as well as its own on-site airstrip.

In his own words: “Our success comes from our low-cost structure and well-funded growth. We invest early in promising sites in stable parts of the world. Our LaRonde mine in Northern Quebec provides a strong platform for overseas growth. For the past 18 years, we have paid dividends and never hedged or sold forward gold. Over the past 10 years we have delivered for our shareholders, as our shares are up over 1,000%.”

Ken Mark