McEwen Mining (MUX), a gold and silver producer with operations across North and South America, is reporting positive developments in Argentina, particularly for its Los Azules copper project.
The company is enthusiastic about recent legislation introduced by Argentine president Javier Milei, which aims to attract significant domestic and foreign investment. McEwen believes this legislation could lead to increased infrastructure investment, potentially improving the economics of Los Azules and reducing investor risk.
This positive outlook is further supported by the recent $4.4 billion joint acquisition of two copper deposits in the same Argentine province as Los Azules, by mining giants BHP and Lundin Mining. McEwen sees this as strong evidence of San Juan province's attractiveness for large-scale mining projects, suggesting that Argentina is becoming a more favourable location for mining operations.
McEwen also announced the completion of infill drilling at Los Azules. This drilling campaign, encompassing over 70,000 metres, has upgraded resource categories, validated the geological model, and confirmed the presence of a high-grade zone. This work has also extended the supergene enrichment zone mineralization, both horizontally and vertically.
With resource drilling for the Los Azules Feasibility Study now complete, the study remains on track for delivery in early 2025.
About McEwen Mining Inc.
McEwen Mining is a gold and silver producer with operations in Nevada, Canada, Mexico, and Argentina. The company holds a 48.3% interest in McEwen Copper, which is responsible for the development of the Los Azules copper project. McEwen's mission is to enhance the productivity and longevity of its assets, ultimately aiming to increase shareholder value. Rob McEwen, Chair and Chief Owner, has personally invested $225 million in the company, with an annual salary of $1.
Important Note: This article includes forward-looking statements. Investors should be aware that these statements involve inherent risks and uncertainties, and actual results could differ significantly from the expectations expressed. Further information regarding these risks and uncertainties can be found in the company's filings with the Securities and Exchange Commission (SEC).
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