The International Finance Corp. (IFC) signed a nonbinding agreement with McEwen Copper to evaluate its participation in financing the Los Azules project, one of the world’s largest undeveloped copper deposits, with a focus on ESG standards, technological innovation and long-term stability.
The company plans to carry out detailed mapping, sampling, trenching, and geophysical surveys in preparation for a drilling program scheduled for the second half of 2026.
It could lead to the creation of the world’s largest mining company, with a combined market value exceeding $200 billion, surpassing even BHP. The merged group would be a world-class player in copper.
The agreement covers construction of the San Jorge 220/33-kilovolt transformer station and a new 220-kilovolt transmission line linking it to the Mendoza Norte station, accelerating project construction and supporting development in Uspallata and the surrounding area.
With resources that place it among the world’s 10 largest undeveloped copper deposits — more than 13 million metric tons of measured and indicated copper, 32 million ounces of gold and 659 million ounces of silver — Vicuña represents the largest greenfield copper discovery in the past 30 years.
