(CercleFinance.com) – McEwen Copper, a subsidiary of the Canadian mining group McEwen Mining, announced on Monday the finalization by Stellantis of an investment of 30 billion Argentine pesos (144 million euros).
It was FCA Argentina, the subsidiary of Stellantis in Argentina, which acquired the 2.85 million common shares of McEwen Copper, a transaction followed by the takeover of 1.25 million McEwen Copper shares so far held by McEwen Mining.
The proceeds of this placement are to be devoted to the development of the Los Azules copper mine project, which McEwen Copper is currently carrying out in San Juan (Argentina).
Quoted in the McEwen Copper press release, the general manager of Stellantis, Carlos Tavares, justifies this acquisition by the need for the car manufacturer to source clean energy and raw materials in order to be able to reach its decarbonization target for 2038.
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