McEwen Mining, Inc. has announced a 105,050 gold equivalent oz (geo) in its first year of production, and 32,220 geo in the fourth quarter of 2012. This year’s growth is forecast at 24% or 130,000 geo.
“2012 was a transformative year,” said President and Chief Owner Rob McEwen, referring to McEwen Mining’s formation through the consolidation of U.S. Gold and Minera Andes. “We saw strength through the diversification and growth of our production base.”
McEwen’s second El Gallo mine is in the permitting phase and company officials are anticipating production by the third quarter of 2013, he said. And “over the next three years, we forecast our internal projects will increase our production from 100,000 gold equivalent oz to 290,000 gold equivalent oz—a three-fold increase.”
McEwen Mining seeks to qualify for the S&P 500 by 2015 through a high growth, low-cost, mid-tier gold producer in the Americas. McEwen Mining’s principal assets are in Argentina, Mexico, Nevada and the U.S.