McEwen Copper plans $300mn IPO to fund Los Azules project in Argentina

About this update from Mcewen Inc.

McEwen Copper plans to launch an initial public offering (IPO) of about $300mn by the end of the year to help finance development of the Los Azules copper project in Argentina’s San Juan province, a company executive said on March 17 , Reuters reported. Michael Meding , managing director of McEwen Copper , said the listing would most likely take place in the United States or Canada as part of a broader financing strategy for the large-scale mining project. Speaking at the IEFA Latam Forum in Buenos Aires , Meding said the IPO would contribute to the capital required to advance construction of the project. “This IPO would in principle be toward the end of the year. Most likely the listing will be in the United States or Canada for about $300mn ,” he said. McEwen Copper is a subsidiary of McEwen Mining and the main shareholder behind the Los Azules development, one of Argentina’s most significant copper projects currently under preparation. The project has already completed a feasibility study outlining an initial operating life of 22 years, with the potential for a 33-year extension depending on future development and reserves. According to company projections, Los Azules could produce around 205,000 tonnes of copper annually during its first five years of operation. Average annual output is then expected to stabilise at about 148,000 tonnes. Meding said the IPO would cover only part of the funding required for the mine, which the company estimates will need a total financing package of around $4bn . “I’m aiming for a $4bn financing package,” Meding said, adding that the company expects to seek board approval for the project by the end of 2026 and begin construction in early 2027. If the development timeline proceeds as planned, commercial production could begin in 2029, he said. The project is expected to benefit from Argentina’s Large Investment Incentive Regime (RIGI), a policy framework introduced by President Javier Milei’s government to attract major investments in sectors such as mining, energy and infrastructure. Argentina has not produced copper since the Alumbrera mine ceased operations in 2018, but the country hosts several large undeveloped deposits that could position it as a significant supplier of the metal, which is widely used in electrification and energy transition technologies. © 2026 bne IntelliNews, source Magazine

View stock analysis, news, and events for Mcewen Inc.