Profile: McEwen Mining Inc (MUX)
28 Apr 2017
McEwen Mining Inc., incorporated on July 24, 1979, is a mining and minerals production and exploration company. The Company is focused on precious and base metals in Argentina, Mexico and the United States. The Company's segments include Mexico, Minera Santa Cruz S.A. (MSC), Nevada and Los Azules. As of December 31, 2016, the Company owned 100% of the El Gallo 1 mine in the state of Sinaloa, Mexico and a 49% interest in MSC, the owner and operator of the producing San Jose mine in the province of Santa Cruz, Argentina.
The Mexico Operations segment includes properties, such as El Gallo 1 mine and the El Gallo 2 project. During the fiscal year ended December 31, 2016, the El Gallo 1 mine produced a total of 54,928 ounces of gold and 25,336 ounces of silver, and a cumulative total of 193,703 ounces of gold and 106,292 ounces of silver since recommencement of commercial production. As of December 31, 2016, the El Gallo 1 mine consisted of eight square miles (21 square kilometers) of concessions held through 100% ownership by Minera Pangea S.A. de C.V. (Minera Pangea). The El Gallo 1 mine and the surrounding properties are located in the Municipality of Mocorito, which is within the State of Sinaloa in northwestern Mexico. The El Gallo 2 project is an advanced-stage project. The El Gallo 2 project is located in the Municipality of Mocorito.
Minera Santa Cruz
The MSC segment includes properties, such as the San Jose mine and other concessions located around the mine. The San Jose mine is an underground operation located approximately 20 kilometers north of Goldcorp's Cerro Negro project in the northwest corner of the Deseado Massif region of Province of Santa Cruz in Argentina. As of December 31, 2016, the San Jose mine covered total area of approximately 1,132 square miles and consisted of 137 mining concessions.
The Company's properties in Nevada segment include Gold Bar project and exploration properties. The Gold Bar project is a proposed mine project. The property is located within the Battle Mountain-Eureka-Cortez gold trend in Eureka County, central Nevada. As of December 31, 2016, the property covered an area of 37 square miles contained in 1,196 claims.
The Los Azules segment includes various properties, such as Los Azules project, Chonchones project, Laganoso project, La Cerrada project and Other Argentina properties. The Los Azules copper project is an advanced-stage porphyry copper exploration project located in the cordilleran region of San Juan Province, Argentina near the border with Chile. As of December 31, 2016, the Company held 321 claims, which encompassed 32,723 hectares that surrounded a large alteration zone that is approximately five miles long by 1.2 miles wide. Its other exploration properties are located in the Province of San Juan.
McEwen Mining Inc
150 King St W Suite 2800
TORONTO ON M5H 1J9