TNR Gold Executive Chairman Kirill Klip joins Natalie Stoberman from the Proactive newsroom to discuss the multimillion dollar investment from automaker Stellantis to McEwen Copper to partner on the Los Azules copper project in San Juan, Argentina.
Klip says FCA Argentina, a subsidiary of Stellantis, has invested $150 million USDnto acquire shares of McEwen Copper in a two-part transaction consisting of a private placement of 2,850,000 common shares, and a purchase of 1,250,000 common shares indirectly owned by McEwen Mining in a secondary sale.
The proceeds of the private placement will be used to advance development of the Los Azules copper project in San Juan, Argentina, and for general corporate purposes.