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MUX Advances Los Azules Project With RIGI Approval & IFC Partnership
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Key Takeaways
MUX gained the RIGI approval for Los Azules, affirming its technical strength and sustainability focus.
A new IFC partnership aligns the project with global standards and financing opportunities.
Los Azules targets carbon neutrality by 2038 and $30B in export revenues for Argentina.
McEwen Inc. (MUX - Free Report) announced that its subsidiary McEwen Copper's fully owned Los Azules copper project has been included in Argentina’s Large Investment Incentive Regime (“RIGI”). This move validates the project’s technical and financial robustness. The RIGI approval also attests to the Los Azules’ commitment to sustainability.
On Wednesday, the company announced that it had inked a collaboration agreement with the International Finance Corporation (“IFC”) to align with IFC's standards. This deal with IFC positions the project for future debt and equity financing.
The company will focus on integrating IFC's Performance Standards on Environmental and Social Sustainability into Los Azules' development. This will reduce the project's risk profile and enhance its appeal to international investors.
Details on McEwen’s Los Azules Project
Los Azules, which is the ninth-largest undeveloped copper deposit globally, is aiming to achieve carbon neutrality by 2038. The mine will become Argentina’s first mine to produce high-purity copper cathodes ready for direct industrial use.
The mine is expected to generate $30 billion in export revenues. The company anticipates the mine to deliver a considerable net inflow of foreign currency to Argentina. Los Azules will create multiple job opportunities, local development and tax revenues in the San Juan province.
MUX’s Q2 Performance
McEwen came out with second-quarter earnings of 6 cents per share, missing the Zacks Consensus Estimate of 9 cents. The company posted a loss of 26 cents per share in the year-ago quarter. McEwen posted revenues of $47 million for the quarter ended June 2025, missing the Zacks Consensus Estimate of $55 million. The top line remained flat year over year.
McEwen Stock’s Price Performance
Shares of the company have surged 67.2% in the past year compared with the industry’s 9.4% growth.
The consensus estimate for DRDGOLD’s 2025 earnings is pegged at $1.62 per share. The estimate indicates year-over-year growth of 13.3%. DRDGOLD’s shares have skyrocketed 175% in a year.
Carpenter Technology has an average trailing four-quarter earnings surprise of 8.4%. The Zacks Consensus Estimate for CRS’s 2025 earnings is pegged at $9.36 per share. Its shares soared 68% last year.
The Zacks Consensus Estimate for The Mosaic Company’s 2025 earnings is pegged at $3.17 per share, indicating a year-over-year surge of 60.1%. The Mosaic Company’s shares jumped 31.5% last year.
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MUX Advances Los Azules Project With RIGI Approval & IFC Partnership
Key Takeaways
McEwen Inc. (MUX - Free Report) announced that its subsidiary McEwen Copper's fully owned Los Azules copper project has been included in Argentina’s Large Investment Incentive Regime (“RIGI”). This move validates the project’s technical and financial robustness. The RIGI approval also attests to the Los Azules’ commitment to sustainability.
On Wednesday, the company announced that it had inked a collaboration agreement with the International Finance Corporation (“IFC”) to align with IFC's standards. This deal with IFC positions the project for future debt and equity financing.
The company will focus on integrating IFC's Performance Standards on Environmental and Social Sustainability into Los Azules' development. This will reduce the project's risk profile and enhance its appeal to international investors.
Details on McEwen’s Los Azules Project
Los Azules, which is the ninth-largest undeveloped copper deposit globally, is aiming to achieve carbon neutrality by 2038. The mine will become Argentina’s first mine to produce high-purity copper cathodes ready for direct industrial use.
The mine is expected to generate $30 billion in export revenues. The company anticipates the mine to deliver a considerable net inflow of foreign currency to Argentina. Los Azules will create multiple job opportunities, local development and tax revenues in the San Juan province.
MUX’s Q2 Performance
McEwen came out with second-quarter earnings of 6 cents per share, missing the Zacks Consensus Estimate of 9 cents. The company posted a loss of 26 cents per share in the year-ago quarter. McEwen posted revenues of $47 million for the quarter ended June 2025, missing the Zacks Consensus Estimate of $55 million. The top line remained flat year over year.
McEwen Stock’s Price Performance
Shares of the company have surged 67.2% in the past year compared with the industry’s 9.4% growth.
MUX’s Zacks Rank & Stocks to Consider
McEwen currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the basic materials space are DRDGOLD Limited (DRD - Free Report) , Carpenter Technology Corporation (CRS - Free Report) and The Mosaic Company (MOS - Free Report) . These three companies flaunt a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The consensus estimate for DRDGOLD’s 2025 earnings is pegged at $1.62 per share. The estimate indicates year-over-year growth of 13.3%. DRDGOLD’s shares have skyrocketed 175% in a year.
Carpenter Technology has an average trailing four-quarter earnings surprise of 8.4%. The Zacks Consensus Estimate for CRS’s 2025 earnings is pegged at $9.36 per share. Its shares soared 68% last year.
The Zacks Consensus Estimate for The Mosaic Company’s 2025 earnings is pegged at $3.17 per share, indicating a year-over-year surge of 60.1%. The Mosaic Company’s shares jumped 31.5% last year.