McEwen Inc. (NYSE: MUX) (TSX: MUX) announced that its 46.3%-owned portfolio company, McEwen Copper, has appointed Societe Generale as sole financial advisor to structure and arrange project debt financing for construction of the Los Azules copper project in Argentina. The financing package is expected to include a mix of export credit agency support, commercial bank debt, multilateral and development finance institution facilities, and potential capital markets instruments as the project advances toward development. This appointment marks a significant step in funding what is designed to be one of the world’s first regenerative copper mines, targeting carbon neutrality by 2038.
The Los Azules project, located in San Juan province, Argentina, is a large, long-life, advanced-stage copper development project. Its Feasibility Study results were announced in a press release dated October 7, 2025. McEwen Copper aims to set a new standard for sustainable mining, with the project’s regenerative design focusing on minimal environmental impact and community benefits. The appointment of Societe Generale, a leading global bank with expertise in project finance, signals growing confidence in the project’s viability and alignment with ESG principles.
McEwen Inc. provides shareholders with exposure to a growing base of gold and silver production through its mines in Nevada, Ontario, Manitoba, and Argentina, in addition to its significant stake in McEwen Copper. According to the last financing for McEwen Copper, the implied value of McEwen’s ownership interest is US$456 million (US$7.67 per share). The company also recently purchased 27.3% of Paragon Advanced Labs Inc., a company deploying PhotonAssay units globally, a technology poised to become a new industry standard for assaying precious and base metals.
Chairman and Chief Owner Rob McEwen has invested over US$250 million personally and takes a salary of $1 per year, aligning his interests with shareholders. His objective is to build MUX’s profitability, share value, and ultimately implement a dividend policy, as he did while building Goldcorp Inc. The appointment of Societe Generale is a crucial development for McEwen Copper, as it moves closer to financing and constructing the Los Azules project, which is expected to play a vital role in meeting global copper demand driven by electrification and renewable energy.
For more information, view the full press release at https://ibn.fm/OGhuV. The latest news and updates relating to MUX are available in the company’s newsroom at https://ibn.fm/MUX.
