Los Azules Project (McEwen Mining INC, MUX): McEwen Highlights San Juan’s Potential and Calls for Clear Investment Rules

Rob McEwen, chairman of McEwen Copper, met with suppliers from San Juan during an event organized by the province’s Ministry of Mining as part of PDAC 2026 in Toronto, Canada, where GRUPO HUARPE is providing exclusive journalistic coverage. After a welcome by Mining Minister Juan Pablo Perea, the Canadian entrepreneur—accompanied by Michael Meding, Vice President and General Manager of the Los Azules project—highlighted Argentina’s enormous potential as a mining country, particularly with the development of the copper project located in Calingasta.

During his presentation, McEwen stated that within a 10 to 15-year horizon, San Juan could reach very significant levels of copper production, driven by major investments and a strong multiplier effect on the provincial economy.

However, he warned that Argentina still generates caution among international investors and stressed the importance of maintaining clear rules, institutional stability, and a partnership-based relationship between the state and the mining industry. In this regard, he emphasized that mining is a long-term activity—Los Azules, for example, has a projected mine life exceeding 50 years—and that its economic benefits can multiply every dollar invested in the economy. At the same time, those benefits remain fragile if predictability and efficient processes are not guaranteed.

The businessman also warned about the need to avoid regulatory delays and operational obstacles that could affect the “critical path” of multi-billion-dollar projects. As an example, he mentioned the Pascua-Lama project, which ended up being halted after facing cost overruns and regulatory conflicts. According to McEwen, situations like that can jeopardize massive investments if orderly and predictable processes are not ensured.

McEwen insisted that if mining projects move forward under clear rules, the benefits can translate into skilled employment, competitive salaries, job stability, and development opportunities for local suppliers.

On the international front, the executive noted that the world is currently in a race to secure supplies of strategic metals, at a time when mining equities represent historically low levels in global financial markets. According to him, this situation could signal a strong inflow of capital into the sector in the coming years.

In that context, he believes Argentina faces a historic opportunity to position itself as a relevant copper producer if it can maintain its current course and consolidate a predictable framework for investments.

During his remarks, McEwen also defended the social impact mining can generate. In that sense, he cited contributions made in Toronto to the healthcare system and scientific research, including support for scientist Shinya Yamanaka, who later received the Nobel Prize. According to McEwen, the resources generated by extractive industries can be reinvested in education, science, and the arts, creating lasting benefits for society.

At the end of the meeting, McEwen thanked the suppliers from San Juan for their participation, spoke with several of them, and expressed his willingness to continue strengthening the development of the local supply chain.

Finally, he confirmed that the company’s current priority is advancing the feasibility study for the Los Azules project and securing financing for its construction, while continuing to promote supplier development and local training programs. With a significant personal investment in the company and a symbolic salary, McEwen emphasized that his vision is long-term: to build value, attract capital, and demonstrate that mining can generate sustainable wealth for society.

This article has been automatically translated and reviewed by an editor. Some nuances may differ from the original. You can read the original version here.