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The Los Azules copper project sits in the Andes Mountains at an elevation of 3,500 metres. Credit: McEwen Mining.
McEwen Copper, part of McEwen Mining, is among several international companies looking to extract copper in the mountains of northern Argentina, a region largely untapped for the commodity due to the country’s tough capital controls and volatile economy. Los Azules is due to receive a key environmental permit in four to six weeks, Meding said. From there, the company hopes around the end of 2025 to start planning for construction.“We have invested more than $400 million to date. And now we are looking for $2.5 billion for capex,” Meding toldThe project, expected to produce about 175,000 metric tons of copper a year, aims to qualify for Milei’s Incentive Regime for Large Investments, or RIGI, in about three months.
Argentine state-owned company YPF Luz has agreed to provide the mine with 100% renewable energy, mainly solar, Meding said.
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