McEwan Considering Selling Los Azules Copper Deposit in Favour of Gold

Bloomberg reported that Goldcorp Founder Rob McEwen is searching out buyers for the Argentinan Los Azules copper deposit to raise cash to fund gold projects.

As quoted in the market report:

Selling Los Azules would free up cash for McEwen Mining’s precious-metals exploration projects in Argentina, Mexico and the U.S. as producers find it difficult to raise funds. In Canada, where more than 400 gold miners are based, producers announced $2.53 billion of equity sales this year, down from $3.51 billion in the same period a year earlier, according to data.

To view the whole Bloomberg report, click here.