TMX Newsfile·2026-02-03 20:10Core Insights - Ivanhoe Electric Inc. is involved in a $12 billion initiative called Project Vault aimed at building a U.S. strategic minerals stockpile to enhance supply chain security and reduce dependence on China [1][2][3] Group 1: Project Vault - Project Vault combines $1.67 billion in private capital with a $10 billion loan from the U.S. Export-Import Bank to procure and store essential minerals [2] - The initiative was launched on February 2, 2026, during a press conference at the White House, attended by key figures from the mining and manufacturing sectors, including Robert Friedland and Mary Barra [3][4] - The project aims to create a resilient domestic supply of critical minerals for U.S. industries [6] Group 2: Santa Cruz Copper Project - Ivanhoe Electric is advancing the Santa Cruz Copper Project in Arizona, which is expected to produce refined copper cathode by late 2028 [1][10] - The project is designed to produce 99.99% pure copper cathode over a 23-year mine life using a 100% heap leach process, minimizing the need for offshore smelting and refining [10] - The Santa Cruz Copper Project is positioned to become a major domestic producer of refined copper, leveraging modern mining technologies and Arizona's rich mining history [10] Group 3: Company Overview - Ivanhoe Electric focuses on developing mines from mineral deposits primarily located in the United States, aiming to support American supply chain independence [11] - The company employs advanced technologies, including the Typhoon™ geophysical surveying system, to enhance mineral exploration and discovery [11] - Ivanhoe Electric also operates a joint venture with Saudi Arabian Mining Company and has established an exploration alliance with BHP Mineral Resources Inc. to search for critical minerals [11]