McEwen Inc. (NYSE: MUX) (TSX: MUX) announced on Monday that Chief Operating Officer William Shaver will retire after a career spanning more than 55 years in the mining industry, including the last four years with the company. Shaver will remain on the board of McEwen Copper, a subsidiary in which McEwen holds a 46.3% stake. The announcement comes as the company positions itself to meet its ambitious production target of 250,000 to 300,000 gold equivalent ounces annually by 2030.
To fill the leadership void, McEwen has promoted three executives: 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 the company's focus on production, mine construction, and permitting—key pillars for achieving its growth objectives.
“These changes reflect our commitment to strengthening our team as we advance our projects and work toward our 2030 goals,” said Rob McEwen, Chairman and Chief Owner of McEwen Inc. “We thank Bill for his decades of service and look forward to his continued contributions on the McEwen Copper board.”
The leadership transition is part of a broader strategy at McEwen, which operates gold and silver mines in Nevada, Ontario, Manitoba, and Argentina, and is reactivating the El Gallo Mine in Mexico. The company also holds a significant interest in McEwen Copper, which owns the advanced-stage Los Azules copper project in Argentina. That project is designed to be one of the world's first regenerative copper mines and aims to be carbon neutral by 2038, with its feasibility study results announced on October 7, 2025. According to the last financing for McEwen Copper, the implied value of McEwen's ownership interest is US$456 million, or US$7.67 per share.
In addition to its mining operations, McEwen recently acquired a 27.3% stake in Paragon Advanced Labs Inc., a company deploying PhotonAssay technology, which McEwen believes could become the new industry standard for assaying precious and base metals. This diversification aligns with the company's forward-looking approach.
Rob McEwen, who has personally invested over US$250 million in the company and takes a salary of $1 per year, remains focused on building profitability and shareholder value. His track record includes building Goldcorp Inc. and ultimately implementing a dividend policy. The leadership changes are expected to help McEwen execute its growth plans and enhance its position in the mining sector.
Investors can find the latest news and updates on MUX in the company's newsroom at https://ibn.fm/MUX.
