- McEwen Mining subsidiary McEwen Copper has been gaining increased financial support as it develops a major copper mine opportunity in Argentina described as one of the 10 largest undeveloped deposits in the world
- Mining giant Rio Tinto’s venture Nuton LLC has boosted last year’s $25 million investment into McEwen Copper with a new $30 million addition, all on top of the recent Stellantis investment of approximately $155 million
- The project in Argentina’s San Juan province benefits from a mining-friendly government and population
- The demand for copper is expected to continue to grow as a result of its importance to green energy transition efforts and ongoing challenges the metal’s supply stream faces
The strength of metals explorer McEwen Copper’s profile and of its parent company McEwen Mining (NYSE: MUX) (TSX: MUX) was further demonstrated recently by a second investment of $30 million, at $18.75 per share boost to an investment made by mining and metals giant Rio Tinto’s venture Nuton LLC. Nuton first invested $25 million last August, at $10 per share. as part of a private placement to help fund McEwen Copper’s development of its Los Azules Project in Argentina’s mining friendly province of San Juan (https://ibn.fm/cAKBx).
The Nuton investment is in addition to the recently announced closure of an investment by automotive multinational Stellantis, the world’s 4th largest automobile manufacturer, of approximately…
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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