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Commodities Corner: How a gold miner turned a $1 million investment into $3 billion

When Rob McEwen bought the Red Lake Mine back in 1989, he was told that the half-a-century-old Ontario gold source was near the end of its life. Instead, he turned it into one of world’s top-producing mines.

Moves like that have helped McEwen, now chairman and CEO of McEwen Mining Inc., achieve legendary status in his field. Some consider him an unconventional thinker who used a crowdsourcing contest to unlock Red Lake’s riches over a decade ago; hes also helped McEwen Mining MUX, -3.17% avoid delisting late last year ahead of a booming 2016 share-price rally.

Today McEwen has his sights on another accomplishment: getting the company that bears his name into the S&P 500 index SPX, +0.80% where precious-metals miners are scarce.

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