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 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 cash generation. The dividend strengthens McEwen’s balance sheet as the company plans to fund production growth through internally generated cash, aiming to double production to 250,000 to 300,000 gold equivalent ounces by 2030.
The San José Mine, located in the Deseado Massif of Santa Cruz province, Argentina, is a key asset for McEwen. The company’s operations also include gold and silver mines in Nevada, Ontario, Manitoba, and Mexico, providing exposure to prolific mineral regions. Additionally, McEwen holds a 46.3% interest in McEwen Copper, which owns the advanced-stage Los Azules copper project in Argentina. 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 aims to achieve carbon neutrality by 2038. Its Feasibility Study results were announced in a press release dated October 7, 2025.
McEwen also recently purchased 27.3% of Paragon Advanced Labs Inc., a public company deploying PhotonAssay units globally. This technology is expected 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.
The dividend announcement highlights McEwen’s ability to generate cash from its operations, supporting its growth strategy without relying on external financing. With a clear path to doubling production by 2030 and a strong copper project in development, the company is positioning itself for long-term value creation. For more information, visit the company’s newsroom at https://ibn.fm/MUX.
