McEwen Copper Partners With World Bank's IFC to Advance Argentina's Los Azules Project

McEwen Inc. has announced a significant partnership between its subsidiary McEwen Copper Inc. and the International Finance Corporation, a member of the World Bank Group, to advance the Los Azules copper project in Argentina. The collaboration agreement focuses on aligning the project with IFC's environmental, social, and governance standards, which could support potential future debt and equity financing for one of the world's largest undeveloped copper deposits.

The Los Azules project represents a major development in Argentina's mining sector, with the partnership signaling international confidence in the project's viability and commitment to sustainable practices. According to the company's announcement available at https://ibn.fm/tgeOT, the project has already secured Environmental Impact Declaration approval and expects to complete a feasibility study by October 2025. This timeline positions Los Azules to begin construction following final engineering and financing decisions.

The importance of this partnership extends beyond immediate project development, as it establishes a framework for sustainable mining practices that emphasize transparency, reduced carbon emissions, and community benefits. The collaboration with IFC brings World Bank-level environmental and social standards to the project, potentially setting new benchmarks for mining operations in Argentina and throughout South America. This alignment with international standards could facilitate broader acceptance and support from global financial institutions and environmentally conscious investors.

McEwen Copper's vision for Los Azules includes making it Argentina's first regenerative copper mine, targeting carbon neutrality by 2038. A June 2023 Preliminary Economic Assessment revealed substantial economic potential, estimating a $2.7 billion after-tax net present value at $3.75 per pound copper price, with a 27-year mine life. The project contains substantial copper resources, with 10.9 billion pounds at 0.40% copper in the indicated category plus 26.7 billion pounds at 0.31% copper in the inferred category, as detailed in McEwen's press release available at https://ibn.fm/tgeOT.

The timing of this development coincides with growing global demand for copper, driven by the transition to renewable energy and electric vehicles. Copper's essential role in electrification infrastructure makes projects like Los Azules strategically important for meeting future supply needs. The partnership with IFC provides additional credibility to McEwen Copper's approach, potentially attracting further investment and accelerating development timelines.

For Argentina, the project represents significant economic opportunity through job creation, infrastructure development, and potential export revenue. The emphasis on ESG standards addresses growing concerns about mining impacts, potentially creating a model for responsible resource development in the region. The project's advancement could position Argentina as an important player in the global copper market while demonstrating how large-scale mining operations can align with environmental and social responsibility goals.