McEwen (NYSE: MUX) (TSX: MUX) announced that its Los Azules copper project in San Juan Province has been approved to participate in Argentina’s Large Investment Incentive Regime (RIGI), as confirmed by Minister of Economy Luis Caputo. The designation consolidates a US$2.672 billion investment plan covering exploration, construction, and operations, marking a historic step for the project, which is set to become Argentina’s first producer of high-purity copper cathodes.
The RIGI approval affirms both the technical and financial strength of Los Azules and its sustainability model, which emphasizes renewable energy, minimal water use, and long-term contributions to local development. Los Azules is projected to generate over US$30 billion in export revenues, create significant employment, and boost provincial and national tax inflows. “This approval reinforces McEwen Copper’s long-term commitment to Argentina and the Province of San Juan,” said Michael Meding, Vice President of McEwen Copper and General Manager of the Los Azules Project.
To view the full press release, visit https://ibn.fm/fqDhT
About McEwen Inc.
McEwen Inc. is a gold and silver producer with operations in the Americas: Nevada (USA), Canada, Mexico, and Argentina. In addition, the company holds 46.4% of McEwen Copper, developer of the advanced-stage Los Azules copper project. Los Azules aims to be Argentina’s first regenerative copper mine, targeting carbon neutrality by 2038. A June 2023 Preliminary Economic Assessment (PEA) estimates a $2.7 billion after-tax NPV (8%) at $3.75/lb Cu, a 27-year mine life, and copper resources of 10.9 billion lbs at 0.40% Cu Indicated plus 26.7 billion lbs at 0.31% Cu Inferred. For PEA details, visit McEwen’s press release.
The company’s shares are publicly traded on the New York Stock Exchange (NYSE) and the Toronto Stock Exchange (TSX) under the symbol “MUX”.
NOTE TO INVESTORS: The latest news and updates relating to MUX are available in the company’s newsroom at https://ibn.fm/MUX
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