Latest news with #RobertMcEwen
Yahoo
28-05-2025
- Business
- Yahoo
Canadian Gold Corp. Provides an Update on the Forest Fire Situation Near the Tartan Mine
Flin Flon, Manitoba--(Newsfile Corp. - May 28, 2025) - Canadian Gold Corp. (TSXV: CGC) ("Canadian Gold" or the "Company") has temporarily suspended drilling operations at its Tartan Mine property near Flin Flon, Manitoba, due to a forest fire in the nearby vicinity. "We have withdrawn our staff and continue to monitor our facilities remotely in accordance with local directives. Our team is in constant communication with local and provincial authorities to coordinate all efforts during this difficult time. All personnel are safe, and the Tartan facilities are secure. While all activities at the site are currently suspended, we remain hopeful that the nearby forest fire activity will not have any material impact on our Phase 4 drilling program. All the firefighters, EMS workers, RCMP, and the great people of Flin Flon remain in our thoughts during this difficult time." - Michael Swistun, CFA, President & CEO Canadian Gold Corp. will update the market in the event of any material change arising in relation to the forest fire situation. For Further Information, Please Contact: Michael Swistun, CFA President & CEOCanadian Gold Corp.(204) 232-1373info@ Social Media Accounts: X (Twitter) Instagram Facebook LinkedIn About Canadian Gold Corp. Canadian Gold Corp. is a Canadian-based mineral exploration and development company whose objective is to expand the high-grade gold resource at the past producing Tartan Mine, located in Flin Flon, Manitoba. The historic Tartan Mine currently has a 2017 indicated mineral resource estimate of 240,000 oz gold (1,180,000 tonnes at 6.32 g/t gold) and an inferred estimate of 37,000 oz gold (240,000 tonnes at 4.89 g/t gold). The Company also holds a 100% interest in greenfields exploration properties in Ontario and Quebec adjacent to some of Canada's largest gold mines and development projects, specifically, the Canadian Malartic Mine (QC), the Hemlo Mine (ON) and Hammond Reef Project (ON). McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) holds a 5.7% interest in Canadian Gold, and Robert McEwen, the founder and former CEO of Goldcorp, and Chairman and CEO of McEwen Mining, holds a 32.9% interest in Canadian Gold. CAUTION REGARDING FORWARD-LOOKING INFORMATION This news release of the Company contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Canadian Gold's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements including but not limited to the receipt of regulatory approval for the transactions contemplated by the Option Agreement and the exercise of the Option Agreement by the Company. To view the source version of this press release, please visit Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
12-02-2025
- Business
- Reuters
McEwen Copper requests major tax breaks for Los Azules copper mine in Argentina
BUENOS AIRES, Feb 12 (Reuters) - Canadian miner McEwen Copper, a subsidiary of McEwen Mining ( opens new tab, has submitted a request to join an Argentine government incentives program that would give it significant tax breaks for its Los Azules copper project in San Juan province, it said. McEwen plans to invest $2.7 billion in the mine. It has committed $227 million under the Argentine government's Large Investment Incentive Regime (RIGI) to carry out the mine's feasibility study, do exploration works, and prepare for construction. The company could pour an additional $2.5 billion into the site to build the mine and production facilities under the incentives mechanism if approved, it said in a statement late on Tuesday. Once the government gives McEwen the green light, its corporate tax rate for the Los Azules project will fall from 35% to 25%, and it will be exempt from value-added tax during construction and from export duties. "Argentina is once again opening its doors to business activity," said Robert McEwen, head and top stakeholder in McEwen Mining. Los Azules could kick off construction in early 2026, pending environmental permits, a feasibility study and the RIGI tax approval, the firm said. The mine is one of Argentina's prime copper projects, located 3,500 meters above sea level in the Andean mountain range. Argentina is mineral rich and could be key to meeting growing demand for copper due to the energy transition, but it has not produced the metal since 2018 when the Alumbrera mine was shuttered. Get a look at the day ahead in U.S. and global markets with the Morning Bid U.S. newsletter. Sign up here.
Yahoo
11-02-2025
- Business
- Yahoo
Los Azules Requests Admission to Argentina's Incentive Regime for Large Investments
TORONTO, Feb. 11, 2025 (GLOBE NEWSWIRE) -- McEwen Copper Inc., a subsidiary of McEwen Mining Inc. (NYSE: MUX) (TSX: MUX), is pleased to announce that its subsidiary Andes Corporación Minera S.A., has applied for admission of the Los Azules copper project to Argentina's Large Investment Incentive Regime ('RIGI'). The Los Azules Project involves an investment currently estimated at USD 2.7 billion, of which USD 227 million have been committed under the RIGI to complete the feasibility study, conduct additional exploration and perform preliminary work to render the project ready to commence construction. An additional investment of USD 2.5 billion is estimated to build the mine and production facilities as a future expansion of the RIGI project. Once admission to the RIGI is approved by the authority, Los Azules will have access to various benefits, including a drop in the corporate income tax rate from 35% to 25%, relief from value added tax payment during construction, exemption from export duties, and exclusion from the obligation to bring export proceeds into the country, as well as 30-year stability and access to international arbitration in case of disputes. Robert McEwen, Chairman and Chief Owner of McEwen Mining, stated: Michael Meding, Vice-President and General Manager of McEwen Copper, and General Manager of the Los Azules Project, added: McEwen Copper wishes to extend its most sincere gratitude to all those whose collaboration has been instrumental in reaching this stage. We look forward to continued partnership and shared success as we progress to the next phases of the project. Next Steps: Towards Feasibility and Construction With the approval of the EIA, the upcoming feasibility study scheduled for the first half of 2025, and the approval of the application for admission to the RIGI, Los Azules has the potential to begin construction in early 2026, which will strengthen even further McEwen Copper's position at the forefront of sustainable mining and as a major driver of economic and social development in San Juan. ABOUT MCEWEN MINING McEwen Mining Inc. is a gold and silver producer with operations in Nevada (USA), Canada, Mexico, and Argentina. The company owns 46.4% of McEwen Copper, which develops the large, advanced-stage Los Azules copper project. Los Azules aims to become Argentina's first regenerative copper mine. Focused on enhancing productivity and extending the life of its assets, the Company's goal is to increase its share price and provide investor yield. Rob McEwen, Chairman and Chief Owner, has a personal investment in the companies of US$225 million. McEwen Mining's shares are publicly traded on the New York Stock Exchange (NYSE) and the Toronto Stock Exchange (TSX) under the symbol "MUX". ABOUT MCEWEN COPPER McEwen Copper Inc. holds a 100% interest in the Los Azules copper project in San Juan, Argentina and the Elder Creek copper/gold project in Nevada, USA. Los Azules was ranked in the top 10 largest undeveloped copper deposits in the world by Mining Intelligence (2022) and is being designed to be distinctly different from a conventional copper mine by consuming significantly less water, emitting much lower carbon, progressing towards carbon neutral by 2038, and being powered by 100% renewable electricity once in operation. The PEA published in June 2023 for the project estimates a $2.7 billion after-tax NPV8% at $3.75/lb Cu, a 27-year mine life, a copper resource of 10.9 billion pounds at grade 0.40% Cu (Indicated category) and an additional 26.7 billion pounds at grade 0.31% Cu (Inferred category). For more details about the Los Azules PEA click here. CAUTION CONCERNING FORWARD-LOOKING STATEMENTS This news release contains certain forward-looking statements and information, including "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements and information expressed, as of the date of this news release, are McEwen Mining Inc.'s (the "Company") estimates, forecasts, projections, expectations, or beliefs as to future events and results. Forward-looking statements and information are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic, and competitive uncertainties, risks, and contingencies, and there can be no assurance that such statements and information will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements and information. Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements and information include, but are not limited to, fluctuations in the market price of precious metals, mining industry risks, political, economic, social and security risks associated with foreign operations, the ability of the Company to receive or receive in a timely manner permits or other approvals required in connection with operations, risks associated with the construction of mining operations and commencement of production and the projected costs thereof, risks related to litigation, the state of the capital markets, environmental risks and hazards, uncertainty as to calculation of mineral resources and reserves, foreign exchange volatility, foreign exchange controls, foreign currency risk, and other risks. Readers should not place undue reliance on forward-looking statements or information included herein, which speak only as of the date hereof. The Company undertakes no obligation to reissue or update forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. See McEwen Mining's Annual Report on Form 10-K for the fiscal year ended December 31st, 2023, Quarterly Report on Form 10-Q for the three months ended March 31st, 2024, June 30th, 2024, and September 30th, 2024, and other filings with the Securities and Exchange Commission, under the caption "Risk Factors", for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information regarding the Company. All forward-looking statements and information made in this news release are qualified by this cautionary statement. The NYSE and TSX have not reviewed and do not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management of McEwen Mining Inc. Want News Fast?Subscribe to our email list by clicking here: and receive news as it happens! McEwen Mining Facebook: LinkedIn: X: 150 King Street West Instagram: Suite 2800, PO Box 24 Toronto, ON, Canada McEwen Copper Facebook: mcewencopper M5H 1J9 LinkedIn: X: Instagram: (866)-441-0690 Toll free line (647)-258-0395 Rob McEwen Facebook: Mihaela Iancu ext. 320 LinkedIn: info@ X: Sign in to access your portfolio
