- Business
- McEwen Inc., formerly McEwen Mining Inc., engages in the exploration, development, production, and sale of gold and silver deposits, as well as copper exploration, across the United States, Canada, Mexico, and Argentina; its principal assets include the 100%-owned Gold Bar gold mine in Nevada, USA, the Fox Complex comprising the Black Fox mine, Froome underground development, and other gold projects in Timmins, Ontario, Canada, the Fenix gold project and legacy El Gallo 1 mine in Sinaloa, Mexico, a 49% interest in the high-grade San Jose silver-gold mine in Santa Cruz, Argentina operated by Hochschild Mining, and the large-scale Los Azules copper project in San Juan, Argentina managed through subsidiary McEwen Copper Inc.; the company also maintains a portfolio of exploration properties in Nevada, Canada, Mexico, and Argentina, targeting precious and base metals for diversified revenue from doré bars, bullion, and future concentrates sold to global refiners, smelters, and commodity markets. Founded in 1979 through roots tracing to the 2012 merger of US Gold Corporation and Minera Andes Inc., McEwen Inc. is headquartered at 150 King Street West, Suite 2800, Toronto, Ontario, Canada M5H 1J9, with operational offices in the USA, Mexico, and Argentina; it employs approximately 1,864 people and lists on the NYSE and TSX under ticker MUX. Recent developments include a name change from McEwen Mining Inc. to McEwen Inc. in June 2025, a binding letter of intent signed July 27, 2025, to acquire all shares of Canadian Gold Corp. in an all-stock deal valued at CAD$0.35 per share for its Tartan Mine assets in Manitoba to boost resource base and production, acquisition of 31% of Paragon Geochemical Laboratories Inc. on November 3, 2025, for specialized PhotonAssay services, a collaboration agreement with the International Finance Corporation in September 2025 to align the Los Azules project with ESG standards for future financing toward its USD$3.2 billion feasibility study targeting 204,800 tons annual copper cathode production starting 2030, approval for Argentina's RIGI incentive regime providing 30-year tax stability and USD$2.7 billion investment benefits in September 2025, a $10 million investment in Goliath Resources in March 2025, and Q3 2025 operational results showing 14,968 gold equivalent ounces (GEOs) sold, $50.5 million revenue, $11.8 million adjusted EBITDA, $51.2 million cash position, with guidance for 112,000-123,000 GEOs in 2025 and a plan to double output to 250,000-300,000 GEOs by 2030 via optimizations at Fox, Gold Bar, and El Gallo.