The 100%-owned Los Azules property is situated 80 km west-northwest of the city of Calingasta and 6 km east of the border with Chile at an elevation of three,500 metres within the Andes Mountains.
Present copper assets are 10.9 billion lb. in ore that grades 0.40% copper within the indicated class and 26.7 billion lb. in materials averaging 0.31% copper within the inferred class.
These numbers come from the preliminary financial evaluation of June 2023. It estimated a $2.7 billion after-tax internet current worth with an 8% low cost at a copper worth of $3.75/lb. The mine would have a 27-year life. Complete manufacturing is anticipated to be 322 million lb. of copper in cathodes.
McEwen is at present engaged on a bankable feasibility examine for Los Azules, and it’s due by the tip of the primary quarter 2025. The challenge shall be a heap leach operation, with no tailings, to be powered by 100% renewable vitality. It’s anticipated to succeed in carbon neutrality by 2038.