McEwen Mining (NYSE: MUX) (TSX: MUX) owns 51.9% of McEwen Copper, a base metal developer that is looking to solve the copper supply bottleneck by advancing its 100%-owned Los Azules Project in the San Juan province of Argentina. The project hosts a copper-gold-silver deposit whose ultimate depth and lateral extent are yet to be fully determined. “A more recent Preliminary Economic Assessment (‘PEA’) completed in 2017 highlights the project’s robust economics. The project’s average annual production throughout the first 13 years of operation is expected to be about 415 million pounds of copper at a cash cost of $1.14 per pound, placing it within the lowest cost quartile,” a recent article reads. “Tellingly, the cost is much lower than the prevailing market price of copper, further boosting the project’s economic prospects. And with the supply bottlenecks and increased demand expected to influence a continuous uptrend, the outlook appears positive. In fact, according to the article in Investing News, as the need for copper continues to grow, observers believe the red metal will become ‘the new precious/industrial metal – and it’s going to have an importance that’s equivalent to some of the more attractive metals, such as gold and silver.’”
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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 has large exposure to copper through its 52% ownership of McEwen Copper, which owns the advanced stage Los Azules copper project in Argentina. The company’s goal is to improve the productivity and extend the life of its mines with the objective of increasing its share value and price and providing a yield. Rob McEwen, chairman and chief owner, has personal investment in the company of US$220 million. His annual salary is US$1. To learn more about the company, visit www.McEwenMining.com.
NOTE TO INVESTORS: The latest news and updates relating to MUX are available in the company’s newsroom at http://ibn.fm/MUX
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