Minera Andes
Company Overview
Minera Andes Inc (, ) is a producer of gold and silver and an explorer of gold, silver and copper in Argentina. Rob McEwen is the company's CEO and largest shareholder (31% ownership).
The company has three significant assets in Argentina:
- 49% interest in the producing San José gold/silver mine, located approximately 20 km north of Goldcorp's (Andean Resources') Cerro Negro project.
- 100% ownership of Los Azules, an advanced stage porphyry copper exploration project with an indicated and inferred resource of 2.2 billion and 10.3 billion pounds of copper; 300,000 and 2 million ounces of gold and 7.5 and 49.1 million ounces of silver.
- 100% ownership of approximately 133,700 acres of mineral rights bordering the Cerro Negro Project.
On June 14th 2011 Mr. McEwen announced that he intends to merge Minera Andes with US Gold Corporation to create a high growth, low-cost, mid-tier silver producer focused in the Americas. The merge is expected to be completed in the fall of 2011. The objective is to build a precious metal company that can qualify for the S&P 500 by 2015.
Rob McEwen was the founder and former Chairman and CEO of Goldcorp Inc (NYSE:GG TSX:G). During his tenure, Goldcorp's market capitalization grew from US$50 million to over US$8 billion.