McEwen Copper Taps Societe Generale to Arrange Financing for Los Azules Project
McEwen Inc.'s portfolio company, McEwen Copper, has appointed Societe Generale as sole financial advisor to structure project debt financing for the Los Azules copper project in Argentina, a key step toward developing one of the world's first regenerative copper mines.
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 move signals a major milestone for the development of the advanced-stage copper asset, 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. The appointment of Societe Generale, a leading global financial institution, underscores the project's credibility and the progress made in de-risking the asset.
McEwen Copper’s Los Azules project is located in San Juan province, Argentina, a region that hosts some of the country’s largest copper deposits. According to the last financing for McEwen Copper, the implied value of McEwen’s ownership interest is US$456 million, or US$7.67 per share. McEwen holds a 46.3% interest in McEwen Copper, providing shareholders with exposure to a large, long-life copper development project.
The news is significant for McEwen Inc., which also provides its shareholders with exposure to a growing base of gold and silver production in the Americas. The company's 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.
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 company's recent purchase of 27.3% of Paragon Advanced Labs Inc., a company deploying PhotonAssay units, further diversifies its portfolio.
For more details on the announcement, the full press release is available at https://ibn.fm/OGhuV. The latest news and updates relating to MUX can be found in the company’s newsroom at https://ibn.fm/MUX.
This development positions McEwen Copper to secure the necessary funding to advance Los Azules, which is expected to be a key supplier of copper—a metal critical for the global energy transition. The project's feasibility study results were announced in a press release dated October 7, 2025.