McEwen Inc. (NYSE: MUX) (TSX: MUX) has announced the planned retirement of its Chief Operating Officer, William Shaver, after a career spanning more than 55 years in the mining industry, including the last four years with the company. Shaver will continue to serve on the board of McEwen Copper, a subsidiary in which McEwen holds a 46.3% stake. In conjunction with his retirement, the company has promoted Channa Kumarage to Vice President of Operations, Kevin Bromfield to Vice President of Development Projects, and Zahir Jina to Vice President of Permitting, Government Relations, and Sustainability.
These appointments are strategically aligned with McEwen's goal of achieving annual production of 250,000 to 300,000 gold equivalent ounces by 2030. The new leadership team will focus on production optimization, mine construction, and securing necessary permits. The company's portfolio includes gold and silver mines in Nevada, Ontario, Manitoba, and Argentina, as well as the reactivation of the El Gallo Mine in Mexico. Additionally, McEwen holds a significant interest in the Los Azules copper project in Argentina, which is designed to be one of the world's first regenerative copper mines and aims to be carbon neutral by 2038.
According to the company, the recent financing for McEwen Copper implies a value of US$456 million for McEwen's ownership interest, or US$7.67 per share. The feasibility study results for Los Azules were announced on October 7, 2025. McEwen also recently acquired a 27.3% stake in Paragon Advanced Labs Inc., a company deploying PhotonAssay units globally, a technology that could become the new industry standard for assaying precious and base metals.
Chairman and Chief Owner Rob McEwen has personally invested over US$250 million in the company and takes a salary of $1 per year, aligning his interests with shareholders. He has a track record of building shareholder value, as demonstrated during his time at Goldcorp Inc., and aims to implement a dividend policy for MUX. The leadership changes underscore McEwen's commitment to operational excellence and long-term growth as it advances its key projects and moves toward its production targets.
