Sociedad Quimica y Minera de Chile S.A. shares are currently trading off about 0.2% on the day.
McEwen Mining was formed in January 2012 through a merger between Minera Andes Inc. and US Gold Corp.
FORBES: Rob McEwen Looks For Gold To Keep Rising As Nations Run Up Debt Levels
Previously, officials have said they envision a merged Minera-US Gold to produce some 7.5 million ounces of silver by 2014.
FORBES: McEwen: Minera-US Gold Proposal Proceeding; Labor For A Challenge For Exploration Companies
The boards of both US Gold and Minera Andes have formed special committees of independent directors to consider the proposed transaction.
FORBES: Update: McEwen Proposes Merger Of US Gold, Minera Andes
Companies that are direct beneficiaries of these developments include Bunge (BG), PetroBras ( PBR) and Sociedad Quimica y Minera ( SQM).
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McEwen was encouraged that share prices of both US Gold and Minera were higher by around 5% as he spoke with Kitco News this morning.
FORBES: Update: McEwen Proposes Merger Of US Gold, Minera Andes
The interview came one month after Minera Andes and US Gold announced a merger proposal from McEwen, the chairman, chief executive and largest shareholder of both companies.
FORBES: McEwen: Minera-US Gold Proposal Proceeding; Labor For A Challenge For Exploration Companies
Minera Andes had a cash flow from a 49% passive ownership in the San Jose Mine in Argentina, while US Gold had a development pipeline of projects.
FORBES: Rob McEwen Looks For Gold To Keep Rising As Nations Run Up Debt Levels
The projection for a merged Minera-US Gold company would be silver production of 7.5 million ounces by 2014, a three-fold increase from the expected 2.5 million this year.
FORBES: Update: McEwen Proposes Merger Of US Gold, Minera Andes
Buenaventura also is an important shareholder of Minera Yanacocha S.R.
Ecclestone expects Minera Andes to turn profitable within a year.
The chief executive of Santiago, Chile-based Sociedad Qumica y Minera de Chile S.A. spends half his time on the road, drumming up business for this manufacturer of specialty fertilizers and chemicals.
McEwen owns 31% of the shares in Minera Andes.
FORBES: Update: McEwen Proposes Merger Of US Gold, Minera Andes
Since the merger announcement, US Gold and Minera have outperformed gold and silver, as well as the McEwen Junior Gold Index launched two years ago for exploration-stage junior mining companies, McEwen noted.
FORBES: McEwen: Minera-US Gold Proposal Proceeding; Labor For A Challenge For Exploration Companies
So on Tuesday, the companies announced a proposal from McEwen, the chairman, chief executive officer and the largest shareholder of both US Gold and Minera Andes, to combine the companies into a high-growth, low-cost mid-tier silver producer focused in the Americas.
FORBES: Update: McEwen Proposes Merger Of US Gold, Minera Andes
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