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 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 marks a key step in advancing the Los Azules project, which is designed to be one of the world’s first regenerative copper mines and carbon neutral by 2038. The project’s feasibility study results were announced in a press release dated October 7, 2025. McEwen Copper’s ability to secure financing is critical for the development of this large, long-life, advanced-stage copper deposit located in San Juan province, Argentina, a region that hosts some of the country’s largest copper deposits.
McEwen Inc. provides its shareholders with exposure to a growing base of gold and silver production in addition to the copper development project. The company’s gold and silver mines are located in prolific mineral-rich regions, including 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.
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). McEwen also recently purchased 27.3% of Paragon Advanced Labs Inc., a newly listed public company deploying PhotonAssay units globally, a technology that the company believes could become the new industry standard for assaying precious and base metals.
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.
The appointment of Societe Generale signals progress in financing the Los Azules project, which could become a significant copper producer in a region with growing demand for copper, driven by electrification and renewable energy. The involvement of Societe Generale, a major global bank, enhances the credibility of the project and its financing strategy.