Overview of the Organization the Agnico Eagle Mines Limited Canada

        Agnico Eagle is one of the senior and renowned gold mining companies from Canada. The company is working since 1957 to produce different kind of precious metals. The company has its eight mine locations in Canada, Mexico and Finland along with mines in Sweden and United States. Different kind of exploration processes are handled by the company in these countries. The company is known to provide full exposure to prices of Gold to its shareholders, and ever since 1983, every year the cash dividend has been declared by the company. The company has enjoyed success over the years with its great planning and strategy (Agnico Eagle 2019)

        It is important to identify their strategic purpose by examining their overall strategy. As per company’s website, they have defined their strategy as “Build a growing, high-quality, low risk, sustainable business” This line from the company is very much showing its strategic purpose that they want to manage a business, which does not grows with high quality, but it also has low risk as low as possible. Moreover, by doing so they are looking to achieve a sustainable business. To ensure their delivery of growth and performance expectations, the company is committed to make sure that their portfolio is able to fulfill expectations by great generation of free cash flow as well as lower risks with its operations (Agnico Eagle 2019)

        The other main part of the strategy is to come up with a project pipeline, which are of high quality in every aspect. They are committed to deliver high quality and best class of project pipeline so that mineral production and reserves can be replenished, and this process is done by maintaining higher standards of quality which can fit their high-profile portfolio in future. The company also want to work in a way that they do everything be being socially responsible. They not only want to hold a great strategy for their shareholders, but they also look to maintain sustainability of their business to operate in a safe environment, which shows responsibility towards the society. The company is also very much aware of the fact that all of these strategic goals cannot be achieved without people. So, they have always followed a strategy, which not only provide great opportunities to grow for their people, but also help them to develop infrastructure with skills so that projects and operations can be run smoothly and as efficiently as possible (Agnico Eagle 2019)

        The strategic purpose and existence of the company can also be analyzed through its mission statement. The mission statements from the company is stated as “Agnico Eagle’s mission is to build a high quality, easy to understand business – one that generates superior long-term returns for our shareholders, creates a great place to work for our employees, and contributes positively to the communities in which we operate” Now, it is important to look at different points of this mission statement so that strategic direction can be identified. They don’t want to involve in a business, which has complex strategic direction creating confusion for anyone. So, they want to keep their business as simple as possible, where roadmap to their strategy is simple and clear to follow. The strategic mission of the company talks about three main points; first one is to come up with great returns on long term basis; second is to make contributions for the society & community; and third one is to create a work environment, which is a great one for their employees to work. These elements also very much shows their strategic purpose and existence in mining business (Agnicoeagle.com 2019)

        The main line of business for Agnico is its gold mining and mineral exploration around different locations in the world. The company is involved in exploration as well as identification to make sure that new development opportunity, mineral resources, and mineral reserves are found. They identify locations, which has the potential of gold production because this is their main line of business. They continue their underground operations in different exploration and projects’ sites so that they can continue to produce gold. It has been observed that 12.7 ounces gold is being produced by the company, which shows its great success and business sustainability for so many years. The company continues its business operations with units such as exploration, southern business as well as northern business (Reuters 2019)

References of the Agnico Eagle Mines Limited Canada

Agnico Eagle. 2019. About Agnico. Accessed April 4, 2019. https://www.agnicoeagle.com/English/about-agnico/default.aspx.

Agnicoeagle.com. 2019. About Us. Accessed April 4, 2019. https://www.agnicoeagle.com/Home/default.aspx.

Holmes, Frank E. 2019. SWOT Analysis: Agnico Eagle Mines Is Forecasting Record Gold Output. Accessed April 4, 2019. https://www.kitco.com/commentaries/2019-02-19/SWOT-Analysis-Agnico-Eagle-Mines-Is-Forecasting-Record-Gold-Output.html.

Reuters. 2019. Agnico Eagle Mines Ltd (AEM). Accessed April 4, 2019. https://www.reuters.com/finance/stocks/company-profile/AEM.

Uysal, Gürhan. 2015. "Stages, Content, and Theory of Strategic Human Resource Management (SHRM): An Exploratory Study." Journal of Modern Accounting and Auditing 10 (2): 252-256.