This article has been disseminated on behalf of McEwen Inc. and may include paid advertising.
McEwen (NYSE: MUX) (TSX: MUX) announced that its 46.3%-owned subsidiary McEwen Copper Inc. has closed a $240 million senior secured four-year term loan facility to advance engineering and early works at the Los Azules copper project in San Juan, Argentina and for general corporate purposes. Participants include Sprott Natural Resource Investment Partners for $112 million, McEwen Chairman and Chief Owner Rob McEwen for $85 million and other lenders for $43 million. The loan bears interest at 12% annually and provides funding as McEwen Copper works toward a final investment decision and full project financing expected in mid-2027, with commercial copper cathode production targeted for 2030, subject to financing and customary approvals. McEwen Copper also continues preparations for a potential initial public offering while advancing Los Azules engineering, contractor selection and other project development activities.
To view the full press release, visit, https://ibn.fm/Rmt8i
About McEwen
McEwen shares trade on both the NYSE and TSX under the ticker MUX.
McEwen provides its shareholders with exposure to a growing base of gold and silver production in addition to a very large copper development project, all in the Americas. The gold and silver mines are in prolific mineral-rich regions of the world, the Cortez Trend in Nevada, USA, 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 has a 46.3% interest in McEwen Copper, which owns the large, long-life, advanced-stage Los Azules copper development project 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 (US$7.67 per share).
The Los Azules copper project is designed to be one of the world’s first regenerative copper mines and carbon neutral by 2038. Its Feasibility Study results were announced in the press release dated October 7, 2025.
McEwen also recently purchased 27.3% of Paragon Advanced Labs Inc., a newly listed public company that is deploying PhotonAssay
units around the world, a technology that the Company believes 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.
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.
NOTE TO INVESTORS: The latest news and updates relating to MUX are available in the company’s newsroom at https://ibn.fm/MUX
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