03:56 PM EDT, 08/26/2024 (MT Newswires) -- McEwen Mining ( MUX ) said Monday afternoon its 48% owned McEwen Copper unit entered a deal with YPF Luz to power its Los Azules copper project in Argentina with 100% renewable energy.

YPF Luz and McEwen Copper signed a memorandum of understanding to negotiate an exclusive renewable energy supply for the Los Azules project in San Juan province.

The agreement also includes connecting the project to the Argentine Interconnection System, or SADI, via a high-voltage line, which YPF Luz will design, build, and finance. The energy will come from YPF Luz's renewable sources linked to SADI.

The deal builds on the partnership between the two companies that started in early 2023 when they first agreed to explore solutions to power the Los Azules project.

McEwen shares were last seen down $0.01 to $12.75 on the Toronto Stock Exchange.

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