Rob McEwen Seeks $100 Million for Argentina Copper Mine as Milei Boosts Prospects – by James Attwood and Jonathan Gilbert (Bloomberg News – January 30, 2024)

(Bloomberg) — Canadian entrepreneur Rob McEwen is in talks to raise about $100 million for a copper project in Argentina, at a time when miners are betting that deregulation by the new government of Javier Milei will boost prospects for the industry.

His closely-held firm, McEwen Copper Inc., is speaking with existing holders — which include automaker Stellantis NV and a Rio Tinto Group venture — as well as prospective new investors, he said in an interview.

The idea is to secure fresh funds within six months for feasibility and engineering work. Longer-term options include expanded partnering with a major mining company such as Rio Tinto. “We’re socializing the concept,” McEwen said Monday. “Just getting in front of a lot of people who finance large projects, not only for our immediate needs but for the longer term.”

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