Argentina’s San Juan province has granted approval for Canada’s McEwen Mining to move forward with its US$2.5 billion Los Azules copper project. This green light comes after an extensive evaluation process that began in April of last year. McEwen Mining plans to complete a feasibility study for the project in the first half of 2025, with construction expected to begin in 2026.
Los Azules is designed to produce 192,500 tonnes of copper annually during the first two years, with an average annual output of 180,000 tonnes over a projected 27-year mine life. The approval follows a comprehensive environmental impact assessment, which was subject to a public consultation process and reviewed by experts who visited the site in the Calingasta department.
The provincial government has stated that the assessment, prepared by McEwen subsidiary Andes Corporación Minera in partnership with engineering firm Knight Piesold, meets the necessary requirements for responsible mining development.
The Los Azules project will be powered entirely by renewable energy, with the goal of achieving carbon neutrality by 2038. Among the project’s partners are Stellantis, an automotive giant promoting electric vehicles, and Nuton, a subsidiary of Rio Tinto focused on innovative extraction technologies.
McEwen Copper, the project operator, is 48.3% owned by McEwen Mining, with additional stakes held by Stellantis (19%), Nuton (14.2%), CEO Rob McEwen (13.2%), and other investors.
Next year will be critical for advancing detailed engineering work, including the construction of roads and power lines. This will lay the foundation for significant construction efforts in 2027 and 2028, with the mine expected to start operations in 2029. The company is also continuing to seek additional investors to support the project.
