McEwen Copper Secures $240 Million Loan to Propel Los Azules Project Forward
McEwen Copper Inc. has finalized a $240 million term loan to support the Los Azules copper project in Argentina. This financing is critical as the company prepares for a final investment decision by mid-2027, with initial copper production expected by 2030.
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McEwen Copper Inc. has closed a $240 million senior secured term loan to advance the Los Azules copper project in San Juan, Argentina. Key participants include Sprott Natural Resource Investment Partners and Rob McEwen, with the loan bearing a 12.0% interest rate.
The funds will support engineering works and corporate expenses, with a final investment decision anticipated in mid-2027. The project aims for commercial production in 2030, contingent on financing and approvals.
Recent geotechnical results have improved mine planning, and community programs have trained nearly 2,000 local residents. However, heavy snowfall this winter may pose additional management challenges. McEwen Copper also continues preparations for a potential IPO and has a 46.3% ownership stake in the project, which is designed to be carbon neutral by 2038.
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