Canadian mining company McEwen Copper, a subsidiary of McEwen Mining, has allocated US$227 million for its Los Azules copper project in Argentina's San Juan province. 

The investment will fund feasibility studies, exploration activities, and construction preparations under the Argentine government's Large Investment Incentive Regime (RIGI). 

On Tuesday, the company announced plans to invest an additional US$2.5 billion in the site to develop the mine and production facilities under the incentives mechanism if approved. 

Once the government approves, its corporate tax rate for the Los Azules project will be lowered from 35% to 25%, and it will be exempt from export duties and value-added tax during construction. It said they will start Los Azules construction in early 2026.