Mining entrepreneur Rob McEwen wants to build the Los Azules copper project in Argentina’s high desert with advanced mining facilities, a hotel and visitor’s centre blending into the landscape.
“I’d like to put a jewel on the side of the mountain and to shock people into seeing how mining really is today,” the founder and CEO of McEwen Mining (TSX: MUX; NYSE: MUX) told the Energy Transition Metals Sumit in Washington, D.C. in late April.
McEwen envisions Los Azules as a leader in sustainability, innovation and economic viability. The mine would use less than a quarter of the water required by conventional copper processing methods, emit less than half the carbon and consume less than half the power. Additionally, all the electricity is to come from renewable sources. The CEO forecasts a production cost of $1.07 per lb. copper.
The project being built by subsidiary McEwen Copper has the notable backing of Nuton, a Rio Tinto (NYSE: RIO; LSE: RIO; ASX: RIO) venture that has developed a propriety copper heap leaching technology. Rio and automaker Stellantis, which holds Fiat Chrysler and Peugeot, each hold 14.2% of McEwen Copper, while McEwen owns 13.8%.
The Northern Miner Group event ran in coordination with Precious Metals Summit Conferences. Watch the full presentation below.
Comments
Oredigr
What’s next? I suspect any day now McEwen base metals will be turning lead into gold!