Ivanhoe Electric Applauds Executive Order to Accelerate Mineral Production in the United States

Core Viewpoint - The recent Executive Order signed by President Trump aims to accelerate domestic production of critical metals, particularly copper, which is expected to benefit Ivanhoe Electric's Santa Cruz Copper Project in Arizona [1][2][3] Group 1: Executive Order and Its Implications - The Executive Order utilizes the Defense Production Act to enhance domestic minerals production for national security reasons [2] - It aims to expedite project permitting by identifying priority projects for immediate approval and issuing relevant permits [2] - The Order also includes provisions for increasing access to capital for domestic projects, including a dedicated mineral production fund under the Development Finance Corporation [2] Group 2: Ivanhoe Electric's Santa Cruz Copper Project - Ivanhoe Electric is progressing towards completing the Preliminary Feasibility Study (PFS) for the Santa Cruz Copper Project, expected by June 2025 [4] - The PFS will build on the Initial Assessment from September 2023, which indicated the project could produce approximately 80 thousand tonnes of copper annually, including 57 thousand tonnes of pure copper cathode for the U.S. market [5] - The company aims to commence construction activities in the first half of 2026, pending the necessary permits [4] Group 3: Company Overview and Strategic Focus - Ivanhoe Electric combines advanced mineral exploration technologies with electric metals exploration projects primarily in the U.S. [6] - The company believes the U.S. is underexplored and has significant potential for new discoveries of critical metals, focusing on copper and other metals like nickel, vanadium, and gold [7] - Ivanhoe Electric operates a joint venture with Saudi Arabian Mining Company Ma'aden to explore minerals in the Arabian Shield [7]