McEwen Copper, YPF Luz agree on renewables flow to Argentina copper mine

Copper miner McEwen Copper Inc has signed a memorandum of understanding (MoU) with Argentine power producer YPF Luz to lay the groundwork for a future delivery of 100% renewable energy to its Los Azules project in the San Juan province of Argentina.

Under the terms, YPF Luz will design, finance and build a high-voltage transmission line to connect the copper project to the SADI national grid.

The MoU also provides the framework for the companies to negotiate the exclusive renewable power supply to Los Azules. Once the link to the grid is established, YPF can start supplying the project with its own renewables connected to SADI, McEwen Mining Inc (TSX:MUX) said in a press release on Monday.

The Toronto-based McEwen Mining Inc owns the largest stake, 48.3%, in McEwen Copper, which is the 100% owner and developer of the Los Azules copper project. Car maker Stellantis NV (BIT:STLAM) and Nuton, a Rio Tinto plc (LON:RIO) venture, are also among the shareholders.

Currently in advanced stages of development, the open-pit copper mine will be located in the Andes Mountains, about 6 kilometres (3.7 miles) east of Argentina’s border with Chile.

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