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McEwen Copper secures $240 million term loan to advance Los Azules project in Argentina. The financing will support engineering and early works as well as general corporate purposes.

PRIVATEAug 27, 2026•about 3 hours ago

Amount Raised

$240 Million

Round Type

Debt Financing

TorontoMiningMineral

Investors

Rob Mc EwenSprott Natural Resource Investment Partners

Description

McEwen Copper has completed a $240 million senior secured term loan facility with a syndicate of lenders. The funding will be utilized to advance engineering and early works of the Los Azules copper project and for general corporate purposes. A final investment decision and full project financing is expected in mid-2027. The term loan comes with a 12.0% interest rate and has a 4-year term.

Company Information

Company

McEwen Mining Inc

Location

Toronto, Ontario, Canada

About

McEwen Copper Inc. holds a 100% interest in the Los Azules copper project in San Juan, Argentina and the Elder Creek project in Nevada, USA. Los Azules was ranked in the top 10 largest undeveloped copper deposits in the world by Mining Intelligence (2022). Its current copper resources are estimated at 10.9 billion pounds at a grade of 0.40% Cu (Indicated category) and an additional 26.7 billion pounds at a grade of 0.31% Cu (Inferred category). A PEA published in June 2023 estimated a $2.7 billion after-tax NPV8% at $3.75/lb Cu and a 27-year mine life. After closing the Stellantis investment, also announced today, and the pending investment by Nuton, McEwen Copper will have 30,937,615 common shares outstanding, and its shareholders are: McEwen Mining Inc. 47.7%, Stellantis 19.4%, Nuton 14.5%, Rob McEwen 12.9%, Victor Smorgon Group 3.2%, and other shareholders 2.3%.

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