McEwen Copper has the purchase of the mine's drills, loading equipment and haul trucks in final evaluation, and each export credit agency finances what is built in its own country. Finland moved first, through Metso. EXIM Bank signed a framework of up to $7 billion with Argentina and allows terms of up to seven years for Argentine borrowers.
The Feasibility Study projects average annual output of 148,000 tonnes over 22 years, with a $5.4 billion NPV and 27.8% after-tax IRR at the study's $5.45/lb sensitivity price — making Los Azules the first copper project in Argentina under RIGI
With Veladero and Diablillos, the sector now accounts for six of the 12 projects approved under the regime. The pending pipeline — led by Glencore with $13.5 billion in copper projects — suggests that share will grow even further.
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.
With a portfolio that already exceeds 27 submitted projects and investment commitments topping $33 billion, extending the deadline to 2027 could unlock additional investment and new projects, further expanding the country’s energy and mining frontier.
With Los Azules approved under Argentina’s Large Investment Incentive Regime (RIGI), and El Pachón and Agua Rica–MARA also submitted to that framework, Argentina is positioning itself as a major player on the global mining map.
