McEwen Copper's Los Azules Joins Argentina's Large Investment Incentive Regime (RIGI)

Core Points - McEwen Copper Inc. has received approval for the Los Azules project to participate in Argentina's Large Investment Incentive Regime (RIGI), which aims to promote strategic initiatives for the country's productive development [1][6] - The project involves an investment of US $2.672 billion, covering exploration, construction, and operational stages of the copper mining development in Calingasta, San Juan Province [2][3] - Los Azules is set to be the first project in Argentina to produce high-purity copper cathodes, emphasizing a sustainable approach that minimizes environmental impact and operates on renewable energy [3][12] Economic Impact - The Los Azules project is projected to generate over US $30 billion in export revenues, significantly contributing to Argentina's foreign currency inflow and local economic development [4][6] - The project is expected to create substantial employment opportunities and increase tax revenues at both provincial and national levels [4][5] Strategic Importance - The approval under RIGI enhances operational predictability and establishes a clear framework for engagement with the state and future partners, reinforcing McEwen Copper's commitment to responsible and sustainable mining [5][6] - The RIGI framework provides legal, fiscal, and customs stability for 30 years, including tax incentives and streamlined customs procedures, which are crucial for attracting international investment [7][9] Project Development Timeline - The Environmental Impact Declaration (EIA) was approved in December 2024, with the feasibility study expected to be completed by the end of October 2025, positioning the project to begin construction [7] - McEwen Copper plans to continue exploration around Los Azules to potentially extend the resource size and life, reinforcing its leadership in sustainable mining [7][12]