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Product cover image for Agnico Eagle: Prospecting for Sustainable Growth

Agnico Eagle: Prospecting for Sustainable Growth

Julian Birkinshaw, Doug Murphy, Vania Sakelaris

Product #:W49737
Supplier:Ivey
Discipline:General Management, Strategy
Setting:Australia, Canada, Finland, Mexico, 2025
Details:Case (PDF) • 17 pages • 2026-07-16

Subjects:

Leadership and managing peopleManagementStrategyDiversificationResource allocation

Industries:

Energy and natural resources sector

Geography:

AustraliaCanadaFinlandMexicoAustralia and OceaniaNorth AmericaEurope
Your Price:$10.54

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The case takes the position of Ammar Al-Joundi, CEO of gold miner Agnico Eagle Mines Limited (Agnico Eagle), in mid-2025, as he considers his options for further growth. Agnico Eagle is performing well, with record levels of gold production and a market value in excess of CA$100 billion. Al-Joundi is looking for opportunities to grow, and the case describes options to move into new geographical territories and to expand into new minerals such as copper or zinc. But he also has to consider the potential risks of diversifying in any direction, given that Agnico Eagle has been so successful in its current focused strategy.

Learning Objectives

We use the case as part of a course called “Navigating Change: Lessons from CEOs on Managing Strategic Growth in Uncertain Times,” where students are given exposure to the big strategic challenges facing CEOs across a variety of sectors. The case also works well in a core strategic management course for undergraduate or master’s students, and in elective courses on growth, diversification, corporate (group-level) strategy, and strategic change.

Working through the case allows students to do the following:
  • Understand the operations and business model of a large mining company, and in particular, the key drivers of performance.
  • Evaluate alternative options for diversification, and the pros and cons of each one.
  • Understand how a company’s “core competencies” shape its future growth opportunities.
  • Step into the position of a CEO in a major company, to get a flavour of the factors that need to be taken into account before making major strategic decisions.
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Case Study: Agnico Eagle: Prospecting for Sustainable Growth (English version) | Ivey Publishing