Operator completes 27% of final investment decision work, targeting Q4 for remaining activities at Argentina copper project.
McEwen Copper Inc has completed 27% of the planned final investment decision (FID) work program for the Los Azules copper project in Argentina as of June 30. The remaining activities are targeted for completion in the fourth quarter, including vendor engineering, power supply assessments, and contractor selection.
The 2025 feasibility study projects average annual production of 205,000 tonnes of copper cathodes over a 22-year mine life, with a C1 cash cost of $1.71 per pound. Under a base case copper price of $4.35 per pound, the project is expected to generate $389.5 million in undiscounted pre-tax cash flow, with potential for an additional $633.5 million under an extended Nuton case.
TNR Gold holds a 0.4% net smelter returns royalty on the project, while McEwen Copper retains a 1.25% NSR royalty. The project’s operator has also completed geotechnical and hydrogeological drilling as part of the FID preparations.