NetworkNewsBreaks – McEwen Mining Inc. (NYSE: MU
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Posted On: 04/19/2023 4:51:31 PM
NetworkNewsBreaks – McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) Positioned as Observers Expect Copper to Become the ‘New Precious/Industrial Metal’
McEwen Mining (NYSE: MUX) (TSX: MUX) owns 51.9% of McEwen Copper, a base metal developer that is looking to solve the copper supply bottleneck by advancing its 100%-owned Los Azules Project in the San Juan province of Argentina. The project hosts a copper-gold-silver deposit whose ultimate depth and lateral extent are yet to be fully determined. “A more recent Preliminary Economic Assessment (‘PEA’) completed in 2017 highlights the project’s robust economics. The project’s average annual production throughout the first 13 years of operation is expected to be about 415 million pounds of copper at a cash cost of $1.14 per pound, placing it within the lowest cost quartile,” a recent article reads. “Tellingly, the cost is much lower than the prevailing market price of copper, further boosting the project’s economic prospects. And with the supply bottlenecks and increased demand expected to influence a continuous uptrend, the outlook appears positive. In fact, according to the article in Investing News, as the need for copper continues to grow, observers believe the red metal will become ‘the new precious/industrial metal – and it’s going to have an importance that’s equivalent to some of the more attractive metals, such as gold and silver.’”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
McEwen Mining (NYSE: MUX) (TSX: MUX) owns 51.9% of McEwen Copper, a base metal developer that is looking to solve the copper supply bottleneck by advancing its 100%-owned Los Azules Project in the San Juan province of Argentina. The project hosts a copper-gold-silver deposit whose ultimate depth and lateral extent are yet to be fully determined. “A more recent Preliminary Economic Assessment (‘PEA’) completed in 2017 highlights the project’s robust economics. The project’s average annual production throughout the first 13 years of operation is expected to be about 415 million pounds of copper at a cash cost of $1.14 per pound, placing it within the lowest cost quartile,” a recent article reads. “Tellingly, the cost is much lower than the prevailing market price of copper, further boosting the project’s economic prospects. And with the supply bottlenecks and increased demand expected to influence a continuous uptrend, the outlook appears positive. In fact, according to the article in Investing News, as the need for copper continues to grow, observers believe the red metal will become ‘the new precious/industrial metal – and it’s going to have an importance that’s equivalent to some of the more attractive metals, such as gold and silver.’”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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