Posted: 06/24/2025 03:53 am
McEwen Mining Inc., a prominent player in the gold and silver ores industry, has undergone significant developments over the years, especially in terms of executive compensation and strategic growth initiatives. A deep dive into past and recent compensation data reveals insights into the company’s evolving remuneration strategies and growth trajectory.
In 2024, Perry Ing, serving as the Interim Chief Financial Officer of McEwen Mining, received a total compensation package amounting to $347,730. This included a salary of $243,503 and a bonus of $98,455, with an additional $5,771 categorized under all other compensation components.^1 This contrasts starkly with 2016 data, where individuals such as Sylvain Guerard, a Senior Vice President at the time, did not receive any financial compensation from the company.^2 On the same note, Donald Brown, another Senior Vice President in 2016, was awarded a total compensation of $575,882, most of which was linked to option awards worth $470,189.^3
The compensation methodologies of McEwen Mining appear to reflect a nuanced approach, dependent on the roles and the prevailing corporate landscape. Notably, Robert McEwen, serving as Chairman and CEO in 2015, exhibited a unique compensation element by receiving no salary, bonus, stock, or option awards—highlighting perhaps a strategic choice aligning with broader corporate aims or personal philosophy.^4
Moreover, McEwen Mining’s recent developments underscore a period of growth and strategic initiatives. The successful application of McEwen Copper Inc. for Argentina’s large investment incentive regime marks a significant milestone in advancing the Los Azules copper project.^6 This progress is expected to support the company's growth targets and enhance shareholder value, further reflected in the company’s announcement of an upsized $110 million offering of convertible senior notes.^7
The company's commitment to expanding its mining operations is also seen in the construction of a ramp system at the Fox Complex’s Stock Mine, which is set to access future lower-cost-per-ounce gold production.^9 This expansion is crucial for positioning McEwen Mining for long-term success and is likely reflected in market performance, with recent stock trading at $9.28, an increase from its previous close of $9.05.^11
These compensation trends and strategic expansions, such as those in Argentina and at the Fox Complex, highlight McEwen Mining's focus on aligning executive incentives with shareholder interests and achieving operational efficiencies.
1. SEC Compensation Data for Perry Ing in 2024, McEwen Mining Inc.
2. SEC Compensation Data for Sylvain Guerard in 2016, McEwen Mining Inc.
3. SEC Compensation Data for Donald Brown in 2016, McEwen Mining Inc.
4. SEC Compensation Data for Robert McEwen in 2015, McEwen Mining Inc.
5. SEC Compensation Data for Perry Ing in 2012, McEwen Mining Inc.
6. McEwen Copper’s Application for Argentina's Investment Regime, Press Release, February 11, 2025.
7. McEwen Mining’s Announcement of $110 Million Offering, Press Release, February 11, 2025.
8. McEwen Mining, Q1 2025 Results Press Release, May 8, 2025.
9. New Chapter of Growth at Fox Complex, GlobeNewswire Article, June 5, 2025.
10. McEwen Mining Q1 2025 Earnings Call, Seeking Alpha, May 10, 2025.
11. McEwen Mining Inc. Stock Market Data, NYSE, as of the latest available date.
