McEwen Inc. Partners With World Bank's IFC to Advance Los Azules Copper Project in Argentina

McEwen Inc. has entered into a strategic collaboration agreement with the International Finance Corporation, a member of the World Bank Group, to advance the development of the Los Azules copper project in Argentina. The partnership, signed through McEwen's subsidiary McEwen Copper Inc., focuses on aligning the project with IFC's comprehensive environmental, social, and governance standards. This alignment represents a significant step toward securing potential future debt and equity financing for what is considered one of the world's largest undeveloped copper deposits.

The Los Azules project has already achieved critical milestones, including securing Environmental Impact Declaration approval, and is progressing toward a feasibility study expected by October 2025. The collaboration with IFC supports McEwen Copper's broader strategy for the project, which emphasizes sustainable mining practices focused on transparency, reduced carbon emissions, and meaningful community benefits. Following completion of final engineering and financing arrangements, the project is positioned to begin construction, marking a substantial advancement in Argentina's mining sector.

McEwen Copper, in which McEwen Inc. holds a 46.4% stake, aims to develop Los Azules as Argentina's first regenerative copper mine with a target of achieving carbon neutrality by 2038. According to a June 2023 Preliminary Economic Assessment available through McEwen's press release, the project demonstrates strong economic potential with an estimated after-tax net present value of $2.7 billion at $3.75 per pound copper. The assessment projects a 27-year mine life with substantial copper resources totaling 10.9 billion pounds at 0.40% copper in the indicated category plus 26.7 billion pounds at 0.31% copper in the inferred category.

The partnership with IFC brings international credibility and adherence to global best practices to the project's development. IFC's involvement typically signals strong environmental and social governance frameworks, which can facilitate access to international financing and enhance stakeholder confidence. This collaboration occurs as global demand for copper continues to grow, driven by the transition to clean energy technologies and electrification trends worldwide. The timing positions Los Azules to potentially become a significant contributor to the global copper supply chain while establishing new standards for sustainable mining in South America.

For investors seeking additional information about McEwen Inc., the company maintains a newsroom available at https://ibn.fm/MUX where updates regarding the company's activities are regularly posted. The collaboration agreement represents a meaningful advancement in the project's development timeline and demonstrates McEwen's commitment to responsible resource development that balances economic objectives with environmental and social considerations.