McEwen Mining (NYSE: MUX) (TSX: MUX) subsidiary McEwen Copper has secured an additional $35 million investment from Nuton LLC, a Rio Tinto Venture, as part of its ongoing private placement financing. This second tranche brings the total raised to $56 million, with Nuton now owning 17.2% of McEwen Copper. The funds will support the development of the Los Azules copper project, with a feasibility study expected by mid-2025. McEwen Copper’s post-money market value is now $984 million, with major shareholders including McEwen Mining, Stellantis, Nuton, and Rob McEwen.
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About McEwen Mining Inc.
McEwen Mining is a gold and silver producer with operations in Nevada, Canada, Mexico and Argentina. In addition, the company owns approximately 47.7% of McEwen Copper, which is developing the large, advanced-stage Los Azules copper project in Argentina. The company’s goal is to improve the productivity and life of its assets with the objective of increasing the share price and providing a yield. Rob McEwen, chair and chief owner, has a personal investment in the company of $220 million and takes an annual salary of $1. To learn more about the company, visit www.McEwenMining.com.
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