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 San Juan province, 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 forward for the Los Azules project, which is designed to be one of the world's first regenerative copper mines and carbon neutral by 2038. 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 project's feasibility study results were announced in a press release dated October 7, 2025.
McEwen Inc. provides its shareholders with exposure to a growing base of gold and silver production in addition to the large copper development project, all in the Americas. The gold and silver mines are located in prolific mineral-rich regions, including the Cortez Trend in Nevada, USA; the Timmins district of Ontario; Flin Flon in Manitoba; and the Deseado Massif in Santa Cruz province, Argentina. The company is also reactivating its gold-silver El Gallo Mine in Mexico.
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. He is a recipient of the Order of Canada, a member of the Canadian Mining Hall of Fame, and a winner of the EY Entrepreneur of the Year (Energy) award. His objective is to build MUX's profitability, share value, and ultimately implement a dividend policy, as he did while building Goldcorp Inc.
In addition to its copper focus, McEwen recently purchased 27.3% of Paragon Advanced Labs Inc., a newly listed public company that is deploying PhotonAssay units around the world. McEwen believes this technology is poised to become the new industry standard for assaying precious and base metals, with Paragon aiming to be one of the leading service providers.
The appointment of Societe Generale is a crucial milestone for the Los Azules project, as securing project debt financing will be essential to moving the project toward construction. The involvement of export credit agencies, multilateral institutions, and commercial banks indicates a broad base of support for the project, which is located in a region that hosts some of Argentina's largest copper deposits. For industry observers, this development underscores the growing importance of copper in the global energy transition and the increasing focus on sustainable mining practices.
For more information, the full press release is available 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.
