Rob Mcewen
Chairman & CEO,
McEwen Inc.
Toronto,
Canada
Rob is Chairman and Chief Owner of McEwen Inc. The company has three producing gold and silver mines throughout the Americas—in the state of Nevada (USA), the province of Ontario (Canada), and the province of Santa Cruz (Argentina) —and holds a 46% interest in Los Azules, one of the world’s ten largest undeveloped copper deposits, located in the province of San Juan, Argentina.
Rob has been associated with the gold industry all his career, his first 18 years in the investment field as a broker and portfolio manager of mutual and closed-end funds, and as a principal of a Toronto Stock Exchange member firm.
In 1990, Rob jumped from investment into the mining industry. By 1993, he initiated a consolidation of five companies, a process that took eight years to complete and culminated in the creation of Goldcorp Inc., which became a powerhouse of gold mining. During the last thirteen years of Rob’s tenure as CEO, Goldcorp’s market capitalization grew from $50 million to over $8 billion, with its share price increasing at a compound annual rate of 31%.
In 2005, Rob decided to pursue the challenge of building another Goldcorp. It was an opportune time to depart, as Goldcorp was in excellent condition, with $200 million held in cash and gold bullion, no debt, and positioned among the world’s lowest cost-per-ounce gold producers.
After Goldcorp, Rob invested primarily in junior exploration and mine development companies, buying 10-30% interests. In January 2012, he merged two of these companies to form McEwen Mining Inc., now McEwen Inc. (NYSE/TSX: MUX). He owns 15% of MUX, 13% of McEwen Copper, with a total investment cost of $205 million. He takes a salary of $1/ year.
Rob and his wife, Cheryl, have donated over $60 million to promote excellence and innovation in healthcare and education. Their philanthropy led to the establishment of the McEwen Stem Cell Institute at Toronto General Hospital, ranked the world’s third best public hospital by Newsweek Magazine in 2024,
Participating as:
Presenter
Session:
Tuesday, March 3
Capital under pressure: Mining finance in a volatile world