McEwen Mining expects to complete a feasibility study for its Los Azules copper mine in Argentina in two months, paving the way for the Canadian miner to seek $600 million in financing needed to build infrastructure next year, a top executive said in an interview.
McEwen’s copper division has spent $300 million on the project in the Andes mountains that will ultimately require about $3 billion, Michael Meding, vice president of McEwen Copper, told Reuters.
The company is aiming to secure 20% of the total investment, the equivalent of $600 million, as soon as possible next year, he said.
Los Azules expects to produce between 180,000 and 200,000 metric tons of copper annually by 2030, one of the eight major copper projects hoping to benefit from projections of soaring demand for the red metal in the coming years.
Argentina’s substantial copper deposits are largely untapped, and the country has…
