McEwen Inc. (NYSE: MUX) (TSX: MUX) announced it has received a $49.4 million dividend from the San José Mine in Argentina, bringing total dividends received from the operation in 2026 to $58.2 million. This amount already exceeds the company’s original full-year expectation of $40 million to $50 million, underscoring the mine's strong performance and cash generation. The dividend further strengthens McEwen’s balance sheet as the company looks to fund planned production growth through internally generated cash, with a goal of doubling production to 250,000 to 300,000 gold equivalent ounces by 2030.
The San José Mine, a joint venture between McEwen and Hochschild Mining, continues to deliver significant returns to its owners. McEwen’s share of the dividend adds to its cash reserves, providing financial flexibility for its growth initiatives. The company is focused on expanding its gold and silver production from its existing operations in Nevada, Ontario, Manitoba, and Argentina, as well as reactivating the El Gallo Mine in Mexico. Additionally, McEwen holds a 46.3% interest in McEwen Copper, which owns the Los Azules copper project in Argentina, designed to be one of the world’s first regenerative copper mines and carbon neutral by 2038. 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).
McEwen also recently purchased 27.3% of Paragon Advanced Labs Inc., a company deploying PhotonAssay units globally, a technology McEwen believes is poised to become the new industry standard for assaying precious and base metals. 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.
For the full press release, visit https://ibn.fm/qX9v9. More information about McEwen is available in the company’s newsroom at https://ibn.fm/MUX.
