McEwen Inc. (NYSE: MUX) (TSX: MUX) has announced the planned retirement of Chief Operating Officer William Shaver, who has dedicated over 55 years to the mining industry, including the past four years at McEwen. Shaver will remain on the board of McEwen Copper, a subsidiary in which McEwen holds a 46.3% stake. In conjunction with his retirement, the company has promoted Channa Kumarage to vice president of operations, Kevin Bromfield to vice president of development projects, and Zahir Jina to vice president of permitting, government relations and sustainability.
These appointments underscore McEwen's strategic focus on production, mine construction, and permitting as the company advances toward its goal of producing 250,000-300,000 gold equivalent ounces annually by 2030. The leadership changes come at a pivotal time as McEwen seeks to optimize its existing operations and advance its development projects.
The company's portfolio includes gold and silver mines in prolific regions across the Americas: the Cortez Trend in Nevada, the Timmins district in Ontario, Flin Flon in Manitoba, and the Deseado Massif in Santa Cruz province, Argentina. Additionally, McEwen is reactivating its gold-silver El Gallo Mine in Mexico. These operations are complemented by a significant copper development project through its interest in McEwen Copper, which owns the advanced-stage Los Azules copper project in San Juan province, Argentina. The project, designed to be one of the world's first regenerative copper mines and carbon neutral by 2038, released its Feasibility Study results in October 2025. Based on the last financing for McEwen Copper, the implied value of McEwen's ownership interest is US$456 million (US$7.67 per share).
In addition to its mining assets, McEwen recently acquired a 27.3% stake in Paragon Advanced Labs Inc., a publicly listed company deploying PhotonAssay units globally—a technology that could become the new industry standard for assaying precious and base metals. This investment aligns with McEwen's commitment to innovation and operational efficiency.
Chairman and Chief Owner Rob McEwen has invested over US$250 million personally and takes an annual salary of $1, aligning his interests with shareholders. His objective is to build MUX's profitability and share value, ultimately implementing a dividend policy, as he did while building Goldcorp Inc. McEwen's leadership and strategic vision have been instrumental in positioning the company for long-term growth.
The leadership promotions reflect McEwen's proactive approach to succession planning and its dedication to achieving its 2030 production targets. With a strong team in place, the company is well-positioned to navigate the complexities of mining operations and development projects in the Americas.
For more information on McEwen's news and updates, visit the company's newsroom at https://ibn.fm/MUX.
