McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) is pleased to announce that its 48%-owned McEwen Copper Inc. has secured an agreement with YPF Luz to power its large Los Azules copper project with 100% renewable energy. This exclusive agreement covers the supply of renewable energy through a high-voltage transmission line, with YPF Luz responsible for its development and financing.
YPF Luz and McEwen Copper have signed a Memorandum of Understanding (MOU) that allows the companies to negotiate the exclusive energy supply for the Los Azules project in the San Juan province using renewable energy sources. The agreement also includes connecting the project to the Argentine Interconnection System (SADI) via a high-voltage transmission line, the design, construction, and financing of which will be carried out by YPF Luz. The energy to be supplied will be sourced from YPF Luz’s renewable assets connected to SADI.
Michael Meding, VP of McEwen Copper and General Manager of the Los Azules project, stated: “Los Azules will play a critical role for Argentina and the world by significantly contributing to decarbonization. The geological potential of the project will position San Juan on the international map of resources for the energy transition, and in this context, YPF Luz is a strategic ally to help us achieve our goal of being 100% renewable.”
Martín Mandarano, CEO of YPF Luz, added: “We are happy to take this new step with McEwen Copper and contribute to enabling sustainable copper production, which is fundamental for the energy transition. This agreement demonstrates our commitment to providing comprehensive energy solutions tailored to the needs of each client, in this case with electrical works that allow the project to be powered by reliable and renewable energy.”
The MOU strengthens the alliance between the two companies, which began in early 2023 with an initial agreement to explore solutions for ensuring the power supply to Los Azules.
