McEwen Copper Secures $240 Million for Los Azules Project

McEwen Copper Inc. closed a $240 million senior secured four-year term loan facility to advance the Los Azules copper project in San Juan, Argentina. The loan syndicate consists of Sprott Natural Resource Investment Partners, which provided $112 million, and Rob McEwen, who contributed $85 million.

The funds will support engineering and early works as the company prepares for a final investment decision expected in mid-2027. Commercial production is targeted for 2030. As part of the project's progression, the company has already awarded engineering for key process equipment packages, including crushing and sulfuric acid systems, to Metso.

The project has received approval under Argentina's Large Investment Regime (RIGI). Managing Director Michael Meding stated that the financing success reflects lender confidence and the economic stabilization initiatives led by President Javier Milei, which he claims have made Argentina an increasingly attractive destination for large-scale foreign investment.