LosAzules Gaps

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The International Finance Corporation (“IFC”) entered into a collaboration agreement with McEwen Copper Inc., and Andes Corporacion Minera S.A. (“ACMSA”) whereby IFC will collaborate with McEwen Copper Inc. and ACMSA to enhance the standard of the Regulatory Local Environmental Impact Assessment of the Los Azules project (as further described below) and guidance on preparing an Environmental and Social Impact Assessment (“ESIA”) for the Los Azules project aligned with the IFC Performance Standards (the “Collaboration Project”). The Los Azules project (the “Project”) is a feasibility stage copper project located in the San Juan province, Argentina, aiming to produce high-purity copper cathodes. It is regarded as one of the largest undeveloped copper projects globally. Once in operation, the Project aims to differ from conventional copper mining projects by using less water, emitting lower carbon, and being 100% powered by renewable energy. McEwen Copper Inc. aims to create one of the first major copper projects to be designed around regenerative principles from the ground up by employing modern low-emission technologies, renewables energy and prioritizing solutions that enhance the environment and communities. McEwen Copper Inc. is a private mining company primarily engaged in the development of the Project and the Elder Creek exploration project in Nevada, USA. McEwen Copper Inc.’s interest in the Project is held through ACMSA, a wholly owned subsidiary, which owns 100% of the Project’s development rights and associated holding and mineral concessions and easements.