McEwen Copper, a subsidiary of McEwen Mining, announced on November 28, 2024, that it is actively seeking to raise $2.5 billion to fund the construction of its Los Azules copper mine in Argentina. This capital is crucial for advancing the project towards production.
Michael Meding, Vice President of McEwen Copper, stated that approximately $300 million has already been invested in the Los Azules project. The total estimated cost for the project is around $3 billion, highlighting the significant scale of the development.
The Los Azules project is projected to produce between 180,000 and 200,000 metric tons of copper annually by 2030. This ambitious production target positions Los Azules as a potentially major contributor to the global copper supply, capitalizing on anticipated soaring demand for the metal.
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