McEwen Mining Inc. said Aug. 13 that it closed the previously announced US$50 million senior secured notes issue to help fund the construction of its Gold Bar mine in Nevada.

As announced in May, controlling shareholder and Chairman Rob McEwen is participating as a lender for US$25 million of the total.

The company said construction of Gold Bar is advancing on schedule for completion by the end of 2018, and it is targeting commercial production in the first quarter of 2019.