Summary of Collaboration or Co-Development Project
Project Number
609772
Sponsor
Andes Corporacion Minera S.A.,McEwen Copper Inc,McEwen Inc.,Nuton LLC,RIO TINTO PLC,Stellantis N.V. ,Stellantis Argentina S.A.
Date SCCP Disclosed
Oct 27, 2025
Country
Argentina
Region
Latin America and the Caribbean
Last Updated Date
Oct 28, 2025
Industry
Infrastructure
Sector
B-B - Metal Ore Mining
Department
Regional Industry INF LAC & EUR
Project Description
The International Finance Corporation (“IFC”) entered into a collaboration agreement with McEwen Copper Inc., and Andes Corporacion Minera S.A. (“ACMSA”) whereby IFC will collaborate with McEwen Copper Inc. and ACMSA to enhance the standard of the Regulatory Local Environmental Impact Assessment of the Los Azules project (as further described below) and guidance on preparing an Environmental and Social Impact Assessment (“ESIA”) for the Los Azules project aligned with the IFC Performance Standards (the “Collaboration Project”).
The Los Azules project (the “Project”) is a feasibility stage copper project located in the San Juan province, Argentina, aiming to produce high-purity copper cathodes. It is regarded as one of the largest undeveloped copper projects globally. Once in operation, the Project aims to differ from conventional copper mining projects by using less water, emitting lower carbon, and being 100% powered by renewable energy. McEwen Copper Inc. aims to create one of the first major copper projects to be designed around regenerative principles from the ground up by employing modern low-emission technologies, renewables energy and prioritizing solutions that enhance the environment and communities.
McEwen Copper Inc. is a private mining company primarily engaged in the development of the Project and the Elder Creek exploration project in Nevada, USA. McEwen Copper Inc.’s interest in the Project is held through ACMSA, a wholly owned subsidiary, which owns 100% of the Project’s development rights and associated holding and mineral concessions and easements.
E & S Information
The environmental and social scope of work for the Collaboration Project includes (i) an E&S site visit and a high-level E&S risk screening of the Project by the IFC E&S team aiming to better understand the mining Project's potential environmental, health, safety and social impacts on the natural environment and surrounding communities; (ii) the assessment of McEwen Copper Inc.’s plans and strategies to properly derisk the Project and determine if there are any gaps with respect to IFC requirements, E&S actions and conditions for investment; (iii) development of an implementation plan by providing an initial set of E&S suggestions to reduce uncertainties around the main E&S risks of the Project, ensuring adequate prioritization of actions; (iv) preparation of terms of reference and support in the identification and selection process of a consultancy firm to prepare a bankable ESIA; (v) support during baseline data collection and intermediary review of impact studies and mitigation plans.
IFC’s role in the Collaboration Project explicitly excludes the preparation of the IFC-compliant Environmental, Social, Impact Assessment report and/or any other Environmental and Social documentation.
Additional Documents
