Los Azules

Los Azules is a paradigm-shifting copper project located in San Juan, Argentina, developed by McEwen Copper. As one of the largest undeveloped open-pit copper resources in the world, Los Azules is designed for the future: low-carbon, ESG-aligned, and ready to support the global clean energy transition. The 2023 NI 43-101 Preliminary Economic Assessment outlines a 175,000-tonne-per-year (175 ktpa) copper cathode operation over a 27-year mine life. With a low average C1 cost of $1.07/lb and an after-tax IRR of 21.2%, the project demonstrates strong long-term economics and robust value creation potential. Pre-production CAPEX is estimated at $2.5 billion, with payback in just over 3 years. Environmentally, Los Azules leads by example. The project eliminates the need for a traditional tailings dam by utilizing heap leach SX/EW technology, drastically reducing its environmental footprint. Compared to conventional milling, the process cuts water usage and electricity consumption by approximately 75%, and lowers GHG emissions by 57%. A clear pathway to net-zero emissions by 2038 underscores the project’s sustainability commitment. What sets Los Azules apart is its scalability and innovation. In addition to a large and growing mineral resource, there is significant upside potential through continued exploration and the optional application of Nuton™, Rio Tinto’s proprietary technology for leaching primary sulphide copper — offering a new frontier in low-impact copper recovery. Los Azules is copper for the energy transition: clean, responsible, and future-facing. Follow us to learn more about how we’re building one of the most environmentally advanced copper projects on the planet.