McEwen Copper Inc., a subsidiary of McEwen Mining Inc. (NYSE: MUX) (TSX: MUX), today announced the closing of an ARS $30 billion investment by Stellantis N.V. (NYSE: STLA), one of the world’s leading automakers and mobility providers with iconic brands including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep(R), Lancia, Maserati, Opel, Peugeot, RAM, Vauxhall, Free2Move and Leasys. “We are delighted to have Stellantis as a partner in the future development of our Los Azules copper project,” said McEwen Copper Chief Executive Officer Rob McEwen. “Together, we share a vision to build a mine for the future based on regenerative principles that can achieve net-zero carbon emissions by 2038.
In addition, the company announced a binding agreement for an additional US$30 million investment by Nuton LLC, a Rio Tinto Venture and existing McEwen Copper shareholder. According to the update, Nuton has agreed to invest US$30 million to acquire shares of McEwen Copper in a two-part transaction expected to close no later than March 10, 2023. “We are extremely pleased to have Nuton’s strong continued participation in McEwen Copper,” Rob McEwen said of the investment. “Together we are exploring new technologies that save energy, water, time and capital in the pursuit of delivering green copper to Argentina and the world, a product that will contribute to the electrification of transportation and the protection of our atmosphere.”
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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, it owns approximately 52% of McEwen Copper, which owns 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 its share price and providing a yield. McEwen’s chair and chief owner has personally provided the company with $220 million and takes an annual salary of $1. To learn more about the company, visit www.McEwenMining.com.
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