McEwen Copper Inc., a subsidiary of McEwen Inc. (NYSE:MUX), is making significant strides with its Los Azules project in Argentina. The project has been approved to join Argentina's Large Investment Incentive Regime (RIGI), as announced by Minister of Economy Luis Caputo. This approval involves a substantial investment of $2.672 billion, covering various phases of the copper mining project in Calingasta, San Juan Province.
The Los Azules project is expected to generate over $30 billion in export revenues, significantly boosting Argentina's foreign currency inflow. This development is crucial for the country's economy, as it will also create employment opportunities and contribute to local development and tax revenues. Michael Meding, Vice President of McEwen Copper, emphasized the project's alignment with modern, responsible, and sustainable mining practices.
The RIGI framework offers McEwen Copper benefits such as legal, fiscal, and customs stability for 30 years, including tax incentives and streamlined procedures. The Environmental Impact Declaration for construction and operation was approved in December 2024, with a feasibility study expected by October 2025. McEwen Copper plans to continue exploring around Los Azules to potentially extend the resource's size and life.
McEwen Inc., which owns 46.4% of McEwen Copper, is a gold and silver producer with operations in the USA, Canada, Mexico, and Argentina. The Los Azules project is designed to be environmentally sustainable, using renewable energy and aiming for carbon neutrality by 2038. The project is one of the largest undeveloped copper deposits globally, with significant copper resources.
On September 22, 2025, key figures in McEwen Inc. executed notable stock transactions. Chan Jeffrey, Vice President of Finance, sold 13,333 shares at approximately $14.89 each, retaining 2,267 shares. Similarly, Director Brissenden Richard W. sold 6,428 shares at the same price, holding 9,405 shares post-transaction. The stock reached a high of $15.68, reflecting investor interest.
