McEwen Inc. (NYSE: MUX) (TSX: MUX) has announced the planned retirement of its Chief Operating Officer, William Shaver, after more than 55 years in the mining industry, including the past four years at McEwen. Shaver will continue to serve on the board of McEwen Copper, a subsidiary in which McEwen holds a 46.3% interest. This leadership transition comes as the company positions itself to meet its ambitious production goal of 250,000-300,000 gold equivalent ounces annually by 2030.
In conjunction with Shaver's retirement, McEwen has promoted three seasoned executives to key roles. Channa Kumarage has been appointed Vice President of Operations, Kevin Bromfield as Vice President of Development Projects, and Zahir Jina as Vice President of Permitting, Government Relations, and Sustainability. These appointments are strategically focused on production, mine construction, and permitting, reflecting the company's commitment to advancing its project pipeline and operational efficiency.
McEwen operates gold and silver mines in prolific mineral-rich regions, including the Cortez Trend in Nevada, the Timmins district in Ontario, Flin Flon in Manitoba, and the Deseado Massif in Santa Cruz, Argentina. The company is also reactivating its gold-silver El Gallo Mine in Mexico. Beyond its precious metals operations, McEwen holds a significant stake in McEwen Copper, which owns the advanced-stage Los Azules copper project in San Juan, Argentina. This project is designed to be one of the world's first regenerative copper mines and aims to be carbon neutral by 2038. The feasibility study results were announced in a press release dated October 7, 2025.
Additionally, McEwen recently acquired a 27.3% interest in Paragon Advanced Labs Inc., a company deploying PhotonAssay units globally, a technology that McEwen believes is poised to become the new industry standard for assaying precious and base metals. This investment aligns with McEwen's forward-looking approach to mining technology and sustainability.
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 leadership changes are expected to bolster McEwen's operational capabilities as it progresses toward its 2030 targets. For more details on the leadership transition, visit the full press release at https://ibn.fm/58acL.
