In light of the burgeoning growth projections for Robotics, EVs and Energy Storage among other industries, Copper stocks look very promising!

 

The growing markets for robotics, electric vehicles (EVs), and energy storage are expected to significantly increase copper demand over the next decade.

1. Electric Vehicles (EVs): The production of EVs is highly copper-intensive, with each EV using approximately 83 kg of copper, compared to around 23 kg for an internal combustion engine vehicle. As the adoption of EVs accelerates, the copper demand from this sector alone is expected to rise dramatically. According to S&P Global, the demand for copper in EVs could increase from 0.4 million tonnes in 2022 to about 2.5 million tonnes by 2030​ (S&P Global)​.

2. Robotics: The robotics industry also contributes to increased copper usage due to the significant amount of wiring and electronic components required. While specific figures for robotics alone are less commonly detailed, the growth in automation and industrial robotics will contribute to the overall rise in copper demand​ (IEA)​.

3. Energy Storage: Energy storage systems, particularly those using lithium-ion batteries, are extremely copper-intensive. These systems require about 1.1 to 1.2 kg of copper per kWh of energy storage. With the anticipated growth in grid-scale energy storage to support renewable energy integration, the copper demand from this sector is expected to surge. Estimates indicate that green copper demand from energy storage could reach 2.5 million tonnes by 2030​ (Fitch Solutions)​.

Overall, the global demand for copper is projected to increase significantly. The International Energy Agency (IEA) forecasts that total copper demand will grow from 25 million tonnes in 2020 to approximately 31.7 million tonnes by 2030. This includes substantial increases from sectors such as EVs, energy storage, and other clean energy technologies​ (IEA)​​ (S&P Global)​​ (Fitch Solutions)​.

This rising demand highlights the critical role copper will play in the transition to a greener economy, underscoring the need for increased production and potentially driving higher copper prices in the future.

Three prominent copper producers poised to benefit from this growth are, 

Teck Resources, Hudbay Minerals, and Freeport-McMoRan!

Here is how they stack up:

Production Levels

• Teck Resources: In 2023, Teck produced 296,500 tonnes of copper. They aim to significantly expand their copper production, planning to double their output by 2025. They also have substantial production in zinc and steelmaking coal​ (Teck Resources Limited)​​ (Teck Resources Limited)​.

• Hudbay Minerals: Hudbay's consolidated copper production is expected to average 153,000 tonnes per year over the next three years, which marks a 16% increase from 2023 levels. They also have significant gold production, averaging 272,500 ounces annually​ (markets.businessinsider.com)​.

• Freeport-McMoRan: Freeport-McMoRan is one of the world’s largest publicly traded copper producers, with a 2023 copper production of 4.2 billion pounds (approximately 1.9 million tonnes). Their operations are extensive, covering North and South America, as well as Indonesia. They also produce significant amounts of gold and molybdenum​ (markets.businessinsider.com)​​ (Teck Resources Limited)​.

Financial Performance

• Teck Resources: Teck reported a strong financial performance with a market cap of around $22.48 billion and a favorable price-to-earnings (P/E) ratio. Their diversified portfolio and strategic growth initiatives, especially in copper, position them well for future profitability. They have shown robust free cash flow (FCF) generation and a positive outlook driven by increased production and favorable commodity prices​ (markets.businessinsider.com)​​ (Teck Resources Limited)​.

• Hudbay Minerals: Hudbay has reported strong financial results for 2023, with increased copper and record gold production contributing to substantial revenue and cash flow improvements. Their operational stability and planned production increases further support a positive financial outlook​ (markets.businessinsider.com)​​ (Teck Resources Limited)​.

• Freeport-McMoRan: Freeport-McMoRan remains a financial powerhouse in the mining sector, with a reported net income of $4.31 billion for 2023. They have a market cap of approximately $54 billion and maintain significant cash flow from their diverse and extensive mining operations. Freeport's financial stability is bolstered by strong copper and gold prices and their substantial production capacity​ (Teck Resources Limited)​​ (Teck Resources Limited)​.

Based on the financial comparison, here are the prospects for Teck Resources, Hudbay Minerals, and Freeport-McMoRan:

1. Teck Resources:

   • PE Ratio: 13.5
   • Cash on Hand: $2.7 billion
   • Revenue: $13.2 billion
   • Net Income: $2.3 billion

   Teck Resources has a relatively low PE ratio compared to Freeport-McMoRan, indicating it might be undervalued. The company also has substantial cash on hand and strong revenue, suggesting solid financial health and growth prospects.

2. Hudbay Minerals:

   • PE Ratio: 8.6
   • Cash on Hand: $0.6 billion
   • Revenue: $1.69 billion
   • Net Income: $0.31 billion

   Hudbay Minerals has the lowest PE ratio among the three, which could indicate it is undervalued relative to its earnings. However, it has lower cash reserves and revenue compared to Teck Resources and Freeport-McMoRan.

3. Freeport-McMoRan:

   • PE Ratio: 32.2
   • Cash on Hand: $5.97 billion
   • Revenue: $23.79 billion
   • Net Income: $1.66 billion

   Freeport-McMoRan has the highest PE ratio, suggesting it might be overvalued compared to Teck Resources and Hudbay Minerals. However, it has the largest cash reserves and revenue, indicating strong financial stability and the capacity to invest in future growth.

Best Prospects:

• Teck Resources appears to have the best balance of valuation (low PE ratio), substantial cash reserves, and solid revenue and net income. This suggests it is well-positioned for future growth while being potentially undervalued.
• Freeport-McMoRan also shows strong financial health with the highest cash reserves and revenue, but its high PE ratio indicates it may be overvalued compared to the others.

Given these factors, Teck Resources might offer the best prospects going forward, balancing valuation and financial strength effectively. ​

---------------------------------------------------------------------------------------------

ETFs also offer exposure to these copper producers and others! 

One example on our watch list is: 

Global X Copper Miners, NYSE ARCA: $COPX

Uber partners with Google's Waymo, to create a powerhouse in the Burgeoning Robo Taxi market!

How can small, retail investors, enter the burgeoning robotics industry that is mostly controlled at present by private companies that are out of their reach?

 

Enovix ($ENVX on Nasdaq) has developed a unique new Li battery that will enhance safety, longevity and higher energy levels

Here are some of the top companies that produce commodities essential for the robotics industry, along with an indication of which might be suitable for small investors to consider:

1. Copper

• Top Companies: Freeport-McMoRan, BHP Group, Southern Copper Corporation
• Small Investor Consideration: Freeport-McMoRan (FCX) - Known for its large-scale mining operations, it's a prominent name with considerable market presence.

2. Steel

• Top Companies: ArcelorMittal, Nippon Steel, China Baowu Steel Group
• Small Investor Consideration: ArcelorMittal (MT) - A global leader in steel production with diversified operations.

3. Lithium

• Top Companies: Albemarle Corporation, SQM, Livent Corporation
• Small Investor Consideration: Albemarle Corporation (ALB) - One of the largest producers of lithium, benefiting from the growing demand for electric vehicles and batteries.

4. GPUs (Graphics Processing Units)

• Top Companies: NVIDIA, AMD, Intel
• Small Investor Consideration: NVIDIA (NVDA) - Leading in high-performance GPUs with strong growth in AI and data centers.

5. Aluminum

• Top Companies: Alcoa Corporation, Rio Tinto, Norsk Hydro
• Small Investor Consideration: Alcoa Corporation (AA) - A key player in the aluminum industry with a strong market position.

6. Rare Earths

• Top Companies: Lynas Rare Earths, MP Materials, China Northern Rare Earth Group High-Tech Co.
• Small Investor Consideration: MP Materials (MP) - A significant rare earth producer in the U.S., benefiting from strategic importance in high-tech industries.

7. Silicon

• Top Companies: Wacker Chemie AG, Hemlock Semiconductor, Dow Corning
• Small Investor Consideration: Wacker Chemie AG - A leading global producer of polysilicon, essential for semiconductors and solar panels.

8. Carbon Fiber

• Top Companies: Toray Industries, Hexcel Corporation, Teijin Limited
• Small Investor Consideration: Hexcel Corporation (HXL) - A leading advanced composites company with a focus on carbon fiber.

9. Kevlar

• Top Companies: DuPont, Teijin Aramid, Kolon Industries
• Small Investor Consideration: DuPont (DD) - Known for its innovation and production of high-strength materials like Kevlar.

10. LiDAR

• Top Companies: Velodyne Lidar, Luminar Technologies, Aeva Technologies
• Small Investor Consideration: Luminar Technologies (LAZR) - An emerging leader in LiDAR technology with significant partnerships in the automotive sector.

11. Advanced Plastics

• Top Companies: BASF, SABIC, Dow Inc.
• Small Investor Consideration: Dow Inc. (DOW) - A major player in the chemicals and advanced plastics sector with a diverse product portfolio.

Several publicly traded companies are involved in the production of robots, robotics, or robot parts.

Notable examples include:

1. Fanuc (FANUY): Specializes in industrial robots for manufacturing, including electrical injection molding machines and automated lasers.
2. UiPath (PATH): Develops robotic process automation (RPA) software to enhance robot efficiency and learning.
3. AeroVironment (AVAV): Produces unmanned aircraft systems used by the military and for research.
4. Amazon (AMZN): Implements autonomous robots in its fulfillment centers.

These companies represent a range of applications from industrial automation to military and commercial use​ (Built In)​.

For small investors, considering companies with established market presence, strong financials, and clear growth potential in the robotics and related sectors is crucial. Companies like NVIDIA, Albemarle, and MP Materials offer a balance of growth potential and relative stability, making them attractive options for investment.

Why did Tesla purchase 2,000 lidar units from Luminar Technologies? What might they be used for?

How to invest in Robots and Robotics going forward, through the back door method!

 

Enovix ($ENVX on Nasdaq) has developed a unique new Li battery that will enhance safety, longevity and higher energy levels

(Forward: Many small investors cannot buy into Tesla directly nor any of the other "private" companies that are poised to charge into the robot industry.  However, there is always a back door!)

The evolution of robots and robotics will rely heavily on a range of raw materials, each contributing to various aspects of robot construction, functionality, and performance. Here are some of the key raw materials expected to be significant:

1. Metals and Alloys:

   • Steel: For structural components due to its strength and durability.
   • Aluminum: Used for lightweight structures, reducing the overall weight of robots.
   • Titanium: Valued for its high strength-to-weight ratio and corrosion resistance.
   • Copper: Essential for electrical wiring and components.

2. Semiconductors:

   • Silicon: Fundamental for electronic circuits, sensors, and microchips.
   • Gallium Arsenide: Used in high-speed electronics and optoelectronic devices.

3. Rare Earth Elements:

   • Neodymium: Critical for powerful permanent magnets used in electric motors and actuators.
   • Dysprosium: Enhances the performance of neodymium magnets, especially at high temperatures.

4. Composites and Polymers:

   • Carbon Fiber: Provides high strength and low weight for structural components.
   • Kevlar: Used for its toughness and resistance to impact and abrasion.
   • High-Performance Plastics: Such as PEEK (polyether ether ketone) and PTFE (polytetrafluoroethylene) for various mechanical and thermal applications.

5. Battery Materials:

   • Lithium: Central to lithium-ion batteries, which power many portable robots.
   • Cobalt, Nickel, and Manganese: Used in battery cathodes to improve energy density and stability.

6. Sensors and Actuators:

   • Piezoelectric Materials: Such as quartz or PZT (lead zirconate titanate) for precise motion control.
   • MEMS (Micro-Electro-Mechanical Systems): Often made from silicon and polymers for sensors and actuators.

7. Optical Materials:

   • Glass and Polymers: For lenses, cameras, and other optical sensors.
   • Silica: Used in fiber optics for communication and data transmission.

8. Conductive and Insulating Materials:

   • Gold and Silver: For high-conductivity electrical connections.
   • Ceramics: Used for insulation and high-temperature applications.

These materials collectively enable the development of more advanced, efficient, and capable robots, pushing the boundaries of what robots can do in various industries, from manufacturing and healthcare to exploration and service applications.

Now, imagine the amount of cars on the planet!  Now quadruple that for the robot revolution!

Now, imagine how much money is pouring in to this market even now, and how much money will be made in the coming years!

Why did Tesla purchase 2,000 lidar units from Luminar Technologies (Nasdaq: $LAZR)? What might they be used for?

How can small, retail investors, enter the burgeoning robotics industry that is mostly controlled at present by private companies that are out of their reach?

Luminar Technologies Inc (NASDAQ: LAZR) - AVs, Automation, Robotics and RoboTaxi's

King copper is becoming king again as EVs, Robots, energy storage and other high tech projects make copper a "must have" resource!

 

Here are the top publicly traded copper-producing companies worldwide 

based on their copper production in 2023

1. Freeport-McMoRan (NYSE: FCX): Freeport-McMoRan is the most productive copper mining company globally, recording 2,058,910.28 metric tons (MT) of copper output in 2023. Notably, it operates the Grasberg mine in Indonesia, the second-largest copper mine globally and one of the world’s largest gold mines.

2. BHP (ASX: BHP, NYSE: BHP, LSE: BHP): BHP produced 1,389,022 MT of copper in 2023. The majority of its copper comes from mines in Chile (Escondida and Spence), Peru, and Australia. Escondida is the world’s largest copper mine and a significant contributor to Chile’s economy.

3. Codelco: Although not publicly traded, Codelco is a state-owned Chilean company and the world’s largest copper producer. It operates several major mines, including Chuquicamata, El Teniente, and Radomiro Tomic.

4. Anglo American (LSE: AAL, OTCQX: AAUKF): Anglo American is another significant copper producer with operations in Chile and other countries. Its Los Bronces mine in Chile contributes to its copper production.

5. Glencore (LSE: GLEN, OTC Pink: GLCNF): Glencore is a diversified mining company with copper assets worldwide. While it produces other commodities, its copper operations play a crucial role in its portfolio.

Copper demand is rising due to electric vehicles, renewable energy systems, and electrification, making these companies essential players in the global copper market

In light of the burgeoning growth projections for Robotics, EVs and Energy Storage among other industries, Copper stocks look very promising, and two of them are poised to benefit significantly!

How to invest in Robots and Robotics going forward, through the back door method!

Robots and EVs will require many, advanced batteries Enovix ($ENVX on Nasdaq) has developed a unique new Li battery that will enhance safety, longevity and higher energy levels

TNR Gold Shareholders will finally get to cash in on Giant Los Azules Copper Project.

TNR Gold Corp. and McEwen Mining Inc. Agree to Convert

TNR’s Back in Right to a NSR on the Los Azules Copper Project, Argentina

Vancouver, B.C. October 17, 2014, TNR Gold Corp. (the "Company" or “TNR) (TSX VENTURE:TNR.V ) announces that it has entered into a transfer agreement (the “Transfer Agreement”) with McEwen Mining Inc. (NYSE:MUX, TSX:MUX) ("McEwen") pursuant to which the Company will convert all of rights and interests (the “E&O Agreement Rights”)  under a Cordon de Los Azules Exploration and Option Agreement dated effective as of May 15, 2004, as amended April 26, 2005 and November 8, 2012, including its 25% back-in right (the “Back-In Right”) in the northern portion of the Los Azules Copper Project (the “Project”) in San Juan Province, Argentina.  The Back-In Right is exercisable following the completion of a feasibility study and if the Company elected to back-in for 5% or less or had its interest diluted to 5% or less, TNR would receive a net smelter royalty of 0.6% from the northern portion of the Project (see TNR News Release November 12, 2012).

In exchange for TNR converting the E&O Agreement Rights, McEwen will:
 (1) cause its  wholly owned Argentinian subsidiary, Andes Corporacion  Minera S.A. (“Andes”) to enter into a net smelter royalty agreement with Compania Minera Solitario Argentina S.A.  (“Solitario”), an Argentinian company controlled by TNR,  pursuant to which Andes will pay Solitario a 0.4% net smelter returns royalty (“NSR”) in respect of the entire Project;

(2) issue TNR 850,000 common shares; and

(3) pay TNR 1% of any purchase price paid to and received by McEwen in respect of any sale, assignment of transfer of all of its interest in the Project, to a party other than to an affiliate of McEwen, on or before the third anniversary of the Transfer Agreement.

The Company believes converting the E&O Agreement Rights are in the best interest of its shareholders because it clarifies the ambiguity surrounding the details of the Back-In Right and the conditions under which the Back-In Right can be exercised.

Gary Schellenberg, President and CEO of TNR commented, “We have noted significant confusion in some of our shareholders regarding the particulars of the Back-In Right. It is the goal of TNR, through its lead generator business model, to advance toward the royalty ownership model as our projects, identified at an early stage of exploration, are advanced toward development by joint venture partners. This latest agreement with McEwen now completes the process for the Los Azules Project.”

 “We are very pleased to reach this agreement with McEwen. I would like to thank Rob McEwen personally for his efforts to work with us to find an amenable solution to simplify the Back-In Right at Los Azules. I am confident this transaction will facilitate the advancement of the Los Azules Project. Los Azules is a unique, long-life, copper mining opportunity in Argentina. Recent acquisitions which include the Las Bambas copper mining project in Peru acquired by Minmetals Group from China and the Taca Taca copper deposit in Argentina acquired by First Quantum Minerals Ltd. confirm there is significant value to be realized for projects in this region. TNR Gold now carries an industry standard NSR on the entire Los Azules project which also allows McEwen Mining to facilitate further strategic transactions with this Project and I believe the shareholders of TNR will benefit as the Project advances through the feasibility stages,” commented Mr. Kirill Klip, Non-Executive Chairman of TNR.

ABOUT LOS AZULES

The Los Azules copper deposit is located in the San Juan province of Argentina. McEwen is the current operator on the Los Azules copper deposit and the Company has previously advised that on May 15, March 28, and March 13, 2013, McEwen Mining Inc. issued press releases in relation to the deposit, which are accessible on SEDAR at http://www.sedar.com and on McEwen Mining Inc.’s website at http://mcewenmining.com.
McEwen's press releases appear to be prepared by Qualified Persons and the procedures, methodology and key assumptions disclosed therein are those adopted and consistently applied in the mining industry, but no Qualified Person engaged by TNR has done sufficient work to analyze, interpret, classify or verify McEwen's information to determine the current mineral reserve or resource or other information referred to in their press releases. Accordingly, the reader is cautioned in placing any reliance on the disclosures therein.

ABOUT TNR GOLD Corp.  (www.tnrgoldcorp.com)

Over the past twenty-one years TNR, through its lead generator business model, has been successful in generating high quality exploration projects around the globe. With the Company's expertise, resources and industry network, it is well positioned to aggressively identify, source, explore, partner and continue to expand its project portfolio.

TNR recently reported an inferred mineral resource at the Shotgun Gold project in Alaska containing 20,734,313 tonnes at 1.06 grams per tonne (“g/t”) gold for a total of 705,960 ounces gold (“Au”) using a 0.5 g/t Au cut-off (see news release dated 22 April 2013).

TNR is also a major shareholder of International Lithium Corp. (TSX:ILC.V) (“ILC”), a company created by TNR to advance its internationally acquired lithium prospects. TNR currently holds about 25.5% of the outstanding shares of ILC.

At its core, TNR provides significant exposure to gold and copper through its holdings in Alaska and Argentina and is committed to continued generation of in-demand projects, while diversifying its markets and building shareholder value.

John Harrop, PGeo, FGS, is a "Qualified Person" as defined under NI 43-101 and has reviewed and approved the technical content of this news release.

For further details please see our website at http://www.tnrgoldcorp.com/s/NewsReleases.asp
On behalf of the board,

Gary Schellenberg
President

McEwen Mining's Los Azules Copper Project Continues to Grow!

McEwen Mining Inc.

NYSE : MUX
TSX : MUX

May 15, 2013 08:15 ET

TORONTO, ONTARIO--(Marketwired - May 15, 2013) - McEwen Mining Inc. (NYSE:MUX)(TSX:MUX) is pleased to announce an updated, Canadian National Instrument 43-101 compliant ("NI 43-101") mineral resource estimate for its 100% owned Los Azules Copper Project in San Juan Province, Argentina. Key developments include the successful conversion of inferred resources into the indicated category while increasing the size of the resource. The resource remains open along strike, to depth, and laterally.

Los Azules ranks as one of the world's largest, undeveloped, high-grade, open pit copper projects, and appears to have significant growth potential.

Table 1. Los Azules Copper Project - Comparison of Previous and Current Mineral Resource Estimates

		June 2012 Resource Estimate Update						May 2013 Resource Estimate Update						% Change
Cut-off Grade (Cu%)		Tonnage (million tonnes)		Cu Grade (%)		Cu lbs (billions)		Tonnage (million tonnes)		Cu Grade (%)		Cu lbs (billions)		Contained Cu lbs
Indicated Resource
0.35		323		0.65		4.6		389		0.63		5.4		+17%
Inferred Resource
0.35		948		0.52		10.8		1,397		0.46		14.3		+32%
*Details for gold and silver resources are included in Table 2.

"This Resource Estimate Update marks the completion of our most successful drilling season at Los Azules. We discovered a new parallel zone to the west and significantly increased the Indicated Resource and Inferred Resource Estimates. Congratulations are in order to our exploration team in Argentina who set a record for the number of pounds discovered at Los Azules in one drill season," stated Rob McEwen, Chief Owner.
This season's exploration effort focused on expanding the resource base. A total of 15,800 meters of drilling was completed which produced a 17% increase in contained copper in the Indicated Resource category, to 5.4 billion lbs of copper and a 32% increase in contained copper in the Inferred Resource category, to 14.3 billion lbs of copper, since the June 2012 estimate of mineral resources. On February 5, 2013, we released an interim, mid-season resource update (to view click here). Table 1 shows a comparison of the new (May 2013) resource with the resource estimated at the end of last year's drilling program (June 2012).
This updated resource estimate will form the basis of a new Preliminary Economic Assessment (PEA), which is expected to be completed in the third quarter of 2013. This PEA will evaluate the possibility of: (1) increasing the daily throughput; (2) producing copper cathode instead of a concentrate and (3) processing low-grade mineralized material not previously considered, via a heap leach.
The advantages of being able to produce a copper cathode rather than a copper concentrate is two fold: First, it would eliminate the capital intensive, concentrate pipeline through Chile; and second, it would reduce the applicable export tax by 50%.
About Los Azules
Los Azules is a large undeveloped copper porphyry system located in western San Juan Province within a belt of porphyry copper deposits that straddles the Chilean/Argentine border. This belt contains some of the world's largest copper deposits, including Codelco's El Teniente and Andina mines, Anglo American's Los Bronces mine, Antofagasta PLC's Los Pelambres mine and Xstrata's El Pachón project, among others. Los Azules is one of the world's largest, highest grade, undeveloped copper-porphyry deposits not owned by a major base metals company.
Table 2. Los Azules Mineral Resource Estimate
In order to exhibit reasonable prospects for economic viability, the mineral resource estimate has been contained within a conceptual open pit shell generated using general technical and economic parameters that are defined at the end of this news release. For comparison purposes, resources are listed at a series of cut-off grades in Table 2. The Base Case cut-off grade of 0.35% Cu is highlighted in the table below.

Cut-off Grade (Cu%)		Tonnage (million tonnes)		Cu Grade (%)		Cu lbs (billions)		Au Grade (grams per tonne)		Au Oz (millions)		Ag Grade (grams per tonne)		Ag Oz (millions)
Indicated Resource
0.15		627		0.49		6.74		0.06		1.13		1.7		34.9
0.20		584		0.51		6.57		0.06		1.08		1.8		32.8
0.25		523		0.54		6.27		0.06		1.02		1.8		29.7
0.30		450		0.59		5.83		0.06		0.92		1.8		25.9
0.35		389		0.63		5.39		0.07		0.84		1.8		22.9
0.40		338		0.67		4.97		0.07		0.76		1.9		20.2
0.45		293		0.70		4.55		0.07		0.68		1.9		17.7
0.50		253		0.74		4.13		0.07		0.60		1.9		15.5
0.55		217		0.78		3.72		0.07		0.52		1.9		13.4
0.60		184		0.81		3.29		0.08		0.45		1.9		11.3
0.65		151		0.85		2.84		0.08		0.38		1.9		9.2
0.70		120		0.90		2.38		0.08		0.30		1.9		7.2
Inferred Resource
0.15		4,141		0.32		29.47		0.05		6.02		1.6		214.3
0.20		3,583		0.35		27.32		0.05		5.43		1.7		190.1
0.25		2,785		0.38		23.36		0.05		4.46		1.7		154.9
0.30		2,016		0.42		18.72		0.05		3.46		1.8		118.0
0.35		1,397		0.46		14.30		0.06		2.58		1.9		85.8
0.40		910		0.51		10.30		0.06		1.79		2.0		58.5
0.45		576		0.57		7.18		0.06		1.20		2.1		38.1
0.50		360		0.62		4.93		0.07		0.79		2.1		24.1
0.55		233		0.68		3.47		0.07		0.54		2.1		15.8
0.60		157		0.73		2.52		0.08		0.39		2.1		10.8
0.65		110		0.77		1.87		0.08		0.28		2.2		7.7
0.70		76		0.81		1.36		0.08		0.20		2.2		5.5
* "Tonnes" is stated in metric and is equivalent to 2205 lbs.
** Estimated contained metal values may be subject to rounding errors.

Details on the parameters of the resource estimate are as follows:

• The resource estimate is based on data from 185 drill holes comprising a total length of 59,518 meters of drilling completed to the end of March 2013.
  
  
• There were a total of 27,688 individual samples selected for analysis. The samples were collected and analyzed in accordance with industry standards. Splits from the drill core samples were submitted to either Alex Stewart in Mendoza or ALS Chemex or ACME in Santiago, Chile for fire assay and ICP analysis. Accuracy of results is tested through the systematic inclusion of standards, blanks and check assays.
  
  
• The May 2013 mineral resource estimate for the Los Azules Copper Project was prepared under the direction of Robert Sim P.Geo. of SIM Geological Inc. The mineral resource estimate uses drill hole sample assay results and the interpretation of a geologic model that relates to the spatial distribution of copper in the deposit. Interpolation characteristics were defined based on the geology, drill hole spacing and geostatistical analysis of the data. Block grade estimates were done using Ordinary Kriging (OK) with a nominal block size measuring 20 meters long, 20 meters wide and 15 meters high. Resources are classified according to their proximity to sample data locations and are reported, as required under NI 43-101, according to the CIM Definition Standards for Mineral Resources and Mineral Reserves.
  
  
• Mineral resources, which are not mineral reserves, do not have demonstrated economic viability.
  
  
• The quantity and grade of reported Inferred resources are uncertain in nature and there has been insufficient exploration to classify these inferred resources as Indicated or Measured, and it is uncertain if further exploration will result in upgrading them to an Indicated or Measured category.
  
  
• As required under NI 43-101, reasonable prospects for economic viability of the mineral resources has been exhibited by the application of a resource limiting pit shell built about copper grades in the model using a projected metal price of US$2.75 per lb. Cu, mining costs of US$1.00 per tonne, milling and G&A costs of US$4.25 per tonne, 100% recoveries and an average pit slope of 34 degrees.
  
  

About McEwen Mining (www.mcewenmining.com)
The goal of McEwen Mining is to qualify for inclusion in the S&P 500 by creating a profitable, mid-tier gold producer focused in the Americas. McEwen Mining's principal assets consist of the San José Mine in Santa Cruz, Argentina (49% interest); the El Gallo Complex in Sinaloa, Mexico; the Gold Bar Project in Nevada, US and the Los Azules Project in San Juan, Argentina.
McEwen Mining has 297 million (common + exchangeable) shares issued and outstanding. Rob McEwen, Chairman, President and Chief Owner, owns approximately 25% of the shares of the Company. As of April 29, 2013, McEwen Mining had cash and liquid assets of approximately US$50 million, remains debt free, and is listed on the New York and Toronto stock exchanges.
Technical Information
Robert Sim, P.Geo., a Qualified Person and independent of McEwen Mining as defined by National Instrument 43-101 ("NI 43-101") has reviewed and approved the technical content of this news release related to the mineral resource estimate presented herein. Bruce Davis, PhD, FAusIMM, who is a Qualified Person and independent of McEwen Mining, as defined by NI 43-101 and responsible for the quality control for the assaying of the Los Azules drill core has reviewed the assay quality control information. All samples were collected in accordance with industry standards. Splits from the drill core samples were submitted to the ACME sample preparation laboratory in Mendoza, Argentina, and then transferred to ACME's laboratory in Santiago, Chile for fire assay and ICP analysis. Accuracy of results is tested through the systematic inclusion of standards, blanks and check assays. The mineral resource estimate referenced in this press release was prepared in April and May 2013 by Robert Sim, P.Geo. and Bruce Davis, PhD, FAusIMM.
For additional information about June 2012 resource estimate and the Los Azules project generally see the Technical Report titled "Los Azules Porphyry Copper Project, San Juan Province, Argentina" dated August 1, 2012, with an effective date of June 15, 2012, prepared by D. Ernest Winkler, P.Eng., Robert Sim, P.Geo., Bruce Davis, PhD, FAusIMM and James K. Duff, P.Geo., all of whom are qualified persons and all of whom are independent of McEwen Mining, each as defined by NI 43-101. The foregoing report is available under the Corporation's profile on SEDAR (www.sedar.com).
Cautionary Note to U.S. Investors
McEwen Mining reports its resource estimates in accordance with standards of the Canadian Institute of Mining, Metallurgy and Petroleum referred to in Canadian National Instrument 43-101 ("NI 43-101"). These standards are different from the standards generally permitted in reports filed with the SEC. Under NI 43-101, McEwen Mining reports measured, indicated and inferred resources, measurements which are generally not permitted in filings made with the SEC. According to Canadian NI 43-101 criteria, the estimation of measured resources and indicated resources involve greater uncertainty as to their economic feasibility than the estimation of proven and probable reserves. Under SEC Industry Guide 7 criteria, measured, indicated and inferred resources are considered Mineralized Material. The SEC considers that in addition to greater uncertainty as to the economic feasibility of Mineralized Material compared to proven and probable reserves, there is also greater uncertainty as to the existence of Mineralized Material. U.S. investors are cautioned not to assume that measured or indicated resources will be converted into economically mineable reserves. The estimation of inferred resources involves far greater uncertainty as to their existence and economic viability than the estimation of other categories of resources.
Caution Concerning Forward-Looking Statements
This news release contains certain forward-looking statements and information, including "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements and information expressed, as at the date of this news release, McEwen Mining Inc.'s (the "Company") estimates, forecasts, projections, expectations or beliefs as to future events and results. Forward-looking statements and information are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, risks and contingencies, and there can be no assurance that such statements and information will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements and information. Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements and information include, but are not limited to, factors associated with fluctuations in the market price of precious metals, mining industry risks, political, economic, social and security risks associated with foreign operations, risks associated with the construction of mining operations and commencement of production and the projected costs thereof, risks related to litigation, the state of the capital markets, environmental risks and hazards, uncertainty as to calculation of mineral resources and reserves and other risks. Readers should not place undue reliance on forward-looking statements or information included herein, which speak only as of the date hereof. The Company undertakes no obligation to reissue or update forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. See McEwen Mining's Annual Report on Form 10-K for the fiscal year ended December 31, 2012 and other filings with the Securities and Exchange Commission, under the caption "Risk Factors", for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information regarding the Company. All forward-looking statements and information made in this news release are qualified by this cautionary statement.

The NYSE and TSX have not reviewed and do not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management of McEwen Mining Inc.

Contact Information

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  McEwen Mining Inc.
  Jenya Meshcheryakova
  Investor Relations
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  McEwen Mining Inc.
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  McEwen Mining Inc.
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