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 appointment signals a major advancement for the project, which is designed to be one of the world's first regenerative copper mines and carbon neutral by 2038.
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 diversified approach underscores the project's strategic importance in the global copper market, particularly as demand for copper rises due to electrification and renewable energy infrastructure.
McEwen Copper's Los Azules project is a large, long-life, advanced-stage copper development project located in a region that hosts some of Argentina's largest copper deposits. 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 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, the Timmins district of Ontario, Flin Flon in Manitoba, and the Deseado Massif in Santa Cruz province, Argentina. McEwen is also reactivating its gold-silver El Gallo Mine in Mexico.
The company recently purchased 27.3% of Paragon Advanced Labs Inc., a newly listed public company deploying PhotonAssay units globally, a technology that McEwen believes is poised to become the 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. 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.
The appointment of Societe Generale is a critical milestone for the Los Azules project, de-risking the financing pathway and positioning McEwen Copper to secure the necessary capital for construction. As the world transitions to cleaner energy, copper is essential for electric vehicles, solar panels, wind turbines, and grid infrastructure, making projects like Los Azules increasingly vital. The regenerative and carbon-neutral design further enhances its appeal to ESG-focused investors.
For more information, visit the company's newsroom at https://ibn.fm/MUX.
