What is Rio Tinto's current stake in McEwen Copper, and through which entity does it hold this interest?

Rio Tinto currently holds a 17.2% stake in McEwen Copper, the developer of Argentina's Los Azules copper project, and it holds this stake through its copper technology venture Nuton LLC.

What are the key economic and operational projections for the Los Azules project as stated in the news?

According to the news, a feasibility study released in October 2025 estimates an after-tax net present value of $2.9 billion for Los Azules, with first production targeted for 2030 and average copper cathode production of about 204,800 metric tons per year over the first five years; McEwen Copper is seeking approximately $4 billion in initial capital to develop the mine.

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Rio Tinto Considers Raising Stake in Argentina's Los Azules Copper Project, Sources Say

May 8, 2026

Rio Tinto is evaluating an increased stake in McEwen Copper's Los Azules project, a major undeveloped copper mine, to meet surging demand from clean energy and data centers. This move bolsters Rio's pipeline following failed merger talks with Glencore.

reuters

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Rio Tinto Considers Raising Stake in Argentina's Los Azules Copper Project, Sources Say

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