Ivanhoe Electric Makes Final Land Acquisition Payment at the Santa Cruz Copper Project in Arizona

Core Insights - Ivanhoe Electric has completed the final three land acquisition payments totaling $39.3 million for the Santa Cruz Copper Project in Arizona, fulfilling the terms of the Purchase and Sale Agreement with Wolff-Harvard Ventures LLC [1][2] - The company is positioned to commence initial construction at the Santa Cruz project in early 2026, pending the receipt of necessary permits, with a goal of first copper cathode production by late 2028 [2][6] Company Overview - Ivanhoe Electric is a U.S.-based minerals exploration company focused on developing mines from mineral deposits primarily located in the United States, aiming to support American supply chain independence by delivering copper and other critical metals [2] - The company utilizes its Typhoon™ geophysical surveying system and advanced data analytics from its subsidiary, Computational Geosciences Inc., to enhance the mineral exploration process [2] - Ivanhoe Electric also operates a joint venture with Saudi Arabian Mining Company to explore minerals in the Arabian Shield and has established an exploration alliance with BHP Mineral Resources Inc. to search for critical minerals in the U.S. [2]