Agnico Eagle Mines Limited (AEM) significantly reduced its net debt by $1.287 billion in 2024, ending the first quarter with only $5 million in net debt, thanks to strong free cash flow of $594 million—up 50% year over year. This brings AEM’s long-term debt-to-capitalization ratio to approximately 5%, indicating low financial risk.
In comparison, Kinross Gold Corporation (KGC) repaid $800 million of its debt in 2024, reducing its net debt to around $540 million, while its first-quarter free cash flow rose to $370.8 million. Additionally, Newmont Corporation (NEM) cut its debt by $1 billion since the beginning of 2025, ending Q1 with $3.221 billion in net debt.
