McEwen Inc. (NYSE: MUX) (TSX: MUX) has announced the planned retirement of Chief Operating Officer William Shaver, who has spent more than 55 years in the mining industry, including the past four years at McEwen. Shaver will remain on the board of McEwen Copper, which is 46.3% owned by McEwen. In conjunction with his retirement, the company has promoted Channa Kumarage to vice president of operations, Kevin Bromfield to vice president of development projects, and Zahir Jina to vice president of permitting, government relations, and sustainability. These appointments are focused on production, mine construction, and permitting as the company works toward its goal of producing 250,000-300,000 gold equivalent ounces annually by 2030.
The leadership changes come at a pivotal time for McEwen, which is balancing its existing gold and silver operations with the development of the Los Azules copper project in Argentina. The company’s strategy is to leverage its current assets to fund future growth, and the new leadership team is expected to drive operational efficiency and project execution. McEwen’s Chairman and Chief Owner Rob McEwen has invested over US$250 million personally and takes a salary of $1 per year, aligning his interests with shareholders. He is a recipient of the Order of Canada, a member of the Canadian Mining Hall of Fame, and a winner of the EY Entrepreneur of the Year (Energy) award. His objective is to build MUX’s profitability, share value, and ultimately implement a dividend policy, as he did while building Goldcorp Inc.
McEwen shares trade on both the NYSE and TSX under the ticker MUX. The company provides its shareholders with exposure to a growing base of gold and silver production in addition to a very large copper development project, all in the Americas. The gold and silver mines are located in prolific mineral-rich regions, including the Cortez Trend in Nevada, USA, the Timmins district of Ontario, Flin Flon in Manitoba, and the Deseado Massif in Santa Cruz province, Argentina. McEwen is also reactivating its gold-silver El Gallo Mine in Mexico.
The company holds a 46.3% interest in McEwen Copper, which owns the large, long-life, advanced-stage Los Azules copper development project in San Juan province, Argentina – a region that hosts some of the country’s largest copper deposits. According to the last financing for McEwen Copper, the implied value of McEwen’s ownership interest is US$456 million (US$7.67 per share). The Los Azules project is designed to be one of the world’s first regenerative copper mines and carbon neutral by 2038. Its Feasibility Study results were announced in the press release dated October 7, 2025.
McEwen also recently purchased 27.3% of Paragon Advanced Labs Inc., a newly listed public company that is deploying PhotonAssay units around the world, a technology that the company believes is poised to become the new industry standard for assaying precious and base metals, with Paragon aiming to be one of the leading service providers.
The leadership changes and strategic investments underscore McEwen’s commitment to achieving its production targets and enhancing shareholder value. The company’s focus on operational excellence and sustainable development is expected to position it well for future growth. The latest news and updates relating to MUX are available in the company’s newsroom at https://ibn.fm/MUX.
