McEwen Inc. (NYSE: MUX) (TSX: MUX) announced it has received a $49.4 million dividend from the San José Mine in Argentina, pushing total dividends from the operation in 2026 to $58.2 million. This figure already exceeds the company’s original full-year expectation of $40 million to $50 million, underscoring the mine’s strong cash generation and McEwen’s improving financial position.
The dividend strengthens McEwen’s balance sheet as the company pursues internally funded production growth. McEwen aims to double its production to 250,000 to 300,000 gold equivalent ounces by 2030, leveraging cash flow from existing operations. The San José Mine, a joint venture, continues to be a key contributor to McEwen’s financial health.
McEwen’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. The company also holds a 46.3% interest in McEwen Copper, which owns the Los Azules copper project in Argentina. According to the last financing, McEwen’s stake in McEwen Copper is valued at approximately US$456 million, or US$7.67 per share. The Los Azules project is designed to be one of the world’s first regenerative copper mines and aims for carbon neutrality by 2038. Feasibility study results were announced in a press release dated October 7, 2025.
Additionally, McEwen recently purchased a 27.3% stake in Paragon Advanced Labs Inc., a public company deploying PhotonAssay units globally. McEwen believes this technology is poised to become the new industry standard for assaying precious and base metals, with Paragon aiming to be a leading service provider.
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.
