McEwen Copper Advances Argentina Project Despite Crisis, Plans for IPO

McEwen Copper advances its Los Azules copper project in Argentina despite market turmoil. The company plans to go public next year, with a possible listing in Buenos Aires. McEwen Copper believes Argentina's new stability program, the RIGI, will protect its capital commitments. The project has a preliminary estimated capital cost of $3.2bn and an annual production of 204,800 tonnes of copper.

McEwen Copper Inc. has made significant strides in advancing its Los Azules copper project in Argentina, despite ongoing market volatility. The company recently announced that the project has been approved to participate in Argentina's Large Investment Incentive Regime (RIGI), a government initiative aimed at promoting strategic investments in the country TNR Gold provides update from McEwen Mining on Los Azules, project approved for Argentina's RIGI^[1]. This approval marks a crucial step forward for the project, which is expected to generate substantial economic benefits for Argentina and create significant employment opportunities.

The Los Azules project, located in San Juan Province, is projected to generate more than US$30 billion in export revenues and deliver substantial net foreign currency inflows to Argentina. The project's inclusion in the RIGI program indicates a strong commitment from the Argentine government to support long-term investments in critical metals and energy projects TNR Gold provides update from McEwen Mining on Los Azules, project approved for Argentina's RIGI^[1].

The feasibility study for Los Azules, completed by McEwen Copper, highlights the project's potential to become a low-cost, long-life producer of high-purity copper cathodes. The study reveals a 21-year mine life with an average annual production of 148,200 tonnes of copper, making it a significant contributor to the global copper market McEwen Copper raises hopes of new technology use in Los Azules study^[2]. The project's design incorporates several innovative technologies, including Nuton® leaching, trolley assist haulage, in-pit crushing and conveying, and the use of battery-electric mine and services vehicles. These technologies aim to reduce the environmental footprint and carbon intensity of the project, positioning it as a sustainable supplier of responsibly produced copper McEwen Copper raises hopes of new technology use in Los Azules study^[2].

McEwen Copper has also secured preliminary finance proposals from Tier-1 Original Equipment Manufacturers (OEMs) such as Komatsu and Sandvik, totaling over $1.1 billion in potential equipment and infrastructure financing McEwen Copper raises hopes of new technology use in Los Azules study^[2]. The company plans to commence construction in 2026, with the SX-EW plant start-up scheduled for 2029 and first copper production expected in 2030 McEwen Copper raises hopes of new technology use in Los Azules study^[2].

Despite the market turmoil, McEwen Copper remains optimistic about the future of the Los Azules project. The company believes that Argentina's new stability program, the RIGI, will provide protection for its capital commitments. McEwen Copper is also planning to go public next year, with a possible listing in Buenos Aires, further signaling its confidence in the project's potential TNR Gold provides update from McEwen Mining on Los Azules, project approved for Argentina's RIGI^[1].