McEwen Mining (NYSE: MUX) (TSX: MUX), an asset-rich diversified gold and copper producer that owns 52% of McEwen Copper, recently released the results of an updated Preliminary Economic Assessment (“2023 PEA”) on the 100% McEwen Copper-owned Los Azules Project in San Juan, Argentina. The 2023 PEA documented “updated base case development strategy, which is starkly different from that presented in the previous PEA published in 2017, as well as an updated independent mineral resource estimate,” a recent article reads. “The selection of the updated implementation strategy rode on three primary principles, chief among them the environmental footprint. Compared to the conventional milling and treatment strategy in the 2017 PEA, the proposed heap leach project is set to reduce fresh water consumption by approximately 75% (from 600 to 150 L/s) and electricity consumption by about 75% (from 230 to 57 MW). The updated strategy is also expected to reduce scope 1 and 2 greenhouse gas (‘GHG’) emissions by approximately 57% from 1,560 to 670 CO2e/t Cu. McEwen Copper is also considering paths to further reduce GHG emissions by implementing new technologies, with the goal of reaching net-zero carbon by 2038 with some offsets… The company is confident this strategy will make the Los Azules copper cathodes attractive to end users looking to measurably reduce their upstream environmental impacts.”
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McEwen Mining is a gold and silver producer with operations in Nevada, Canada, Mexico and Argentina. In addition, it has significant exposure to copper through its 52% ownership of McEwen Copper. The company’s goal is to improve the productivity and extend the life of its mines with the objective of increasing its share value and price and providing a yield. Rob McEwen, chairman and chief owner, has personal investment in the company of US$220 million. His annual salary is US$1.For more information about the company, visit www.McEwenMining.com.
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