MUX - McEwen Mining Inc.'s (NYSE: MUX) (TSX: MUX) McEwen Copper Advancing Los Azules Project amid Copper Supply Bottlenecks and Growing Demand
- McEwen Mining is an asset-rich diversified gold and silver producer in the Americas with significant exposure to copper through its 51.9%-owned McEwen Copper
- McEwen Copper holds 100% interest in the Los Azules Project in Argentina, which has been shown to have many attributes comparable to world-class copper-gold deposits in South America
- The subsidiary is advancing the Los Azules Project and has been undertaking infill and step-out exploration drilling
- McEwen Copper’s focus comes at a time when the world is staring at copper deficits driven by constrained supply amid political instability in top copper-producing countries and increased demand
Copper, a base metal with no obvious substitute, is found in countless products in homes, offices, manufacturing plants, and vehicles. For context, a typical home contains over 400 pounds (about 180 kilograms) of the metal, with most of these copper-containing products being electronics that need to be powered by electricity tapped from an electricity grid that majorly comprises components that are made using copper (https://ibn.fm/Ng9Yv). Copper is also used to manufacture military vehicles like ships, naval vessels, and aircraft because it is resistant to corrosion.
As the world targets a green transition, more sectors are looking to decarbonize, opting to electrify to reduce use of fossil fuels. As a result, millions of feet of copper wiring will be needed to build complex grids that...
NOTE TO INVESTORS: The latest news and updates relating to MUX are available in the company’s newsroom at http://ibn.fm/MUX
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