Ivanhoe Electric applauds U.S. executive order
2025-03-21 14:38 ET – News Release
Mr. Mike Patterson reports
IVANHOE ELECTRIC APPLAUDS EXECUTIVE ORDER TO ACCELERATE MINERAL PRODUCTION IN THE UNITED STATES
Ivanhoe Electric Inc. executive chairman Robert Friedland and president and chief executive officer Taylor Melvin are applauding the historic March 20, 2025, executive order signed by United States President Donald J. Trump to accelerate the domestic production of critical metals, including copper.
The executive order invokes the use of the Defense Production Act as part of a broad U.S. government effort to expand domestic minerals production on national security grounds. As it relates to project permitting, the order states that it will “identify priority projects that can be immediately approved or for which permits can be immediately issued, and take all necessary or appropriate actions … to expedite and issue the relevant permits or approvals.” Furthermore, the order includes provisions to accelerate access to private and public capital for domestic projects, including the creation of a “dedicated mineral and mineral production fund for domestic investments” under the Development Finance Corp. (DFC).
Mr. Melvin commented: “This decisive action by our president highlights the urgent need to expand domestic minerals output to support supply chain security in the United States. This important order will help revitalize domestic mineral production by improving the permitting process and providing financial support to qualifying domestic projects. As a United States company with an advanced high-quality, high-grade copper project on private land in Arizona, we are excited about what the executive order means for the future of domestic copper production.”
Ivanhoe Electric nears key milestone at its Santa Cruz copper project in Arizona with expected completion of preliminary feasibility study (PFS) in June, 2025
Ivanhoe Electric is rapidly progressing advanced stage engineering studies for its modern, high-grade, underground Santa Cruz copper project in Arizona. The project’s PFS is scheduled to be completed in June, 2025, and will be used to advance project financing discussions. Ivanhoe Electric is advancing applications for key project permits with a goal of commencing construction activities as soon as the first half of 2026.
The PFS expands on the company’s initial assessment released in September, 2023 (refer to Ivanhoe Electric’s Sept. 6, 2023, news release), which demonstrated attractive economics on a long-lived and high-grade underground copper project capable of producing approximately 80,000 tonnes of copper per year, including 57,000 tonnes of pure copper cathode for the U.S. domestic market.
About Ivanhoe Electric Inc.
The company is a United States company that combines advanced mineral exploration technologies with electric metals exploration projects predominantly located in the United States. It uses its accurate and powerful Typhoon geophysical surveying system, together with advanced data analytics provided by its subsidiary, Computational Geosciences Inc., to accelerate and derisk the mineral exploration process as the company seeks to discover new deposits of critical metals that may otherwise be undetectable by traditional exploration technologies.
The company believes the United States is significantly underexplored and has the potential to yield major new discoveries of critical metals. The company’s mineral exploration efforts focus on copper as well as other metals including nickel, vanadium, cobalt, platinum group elements, gold and silver. Through the advancement of our portfolio of electric metals exploration projects, headlined by the Santa Cruz copper project in Arizona and the Tintic copper-gold project in Utah, as well as other exploration projects in the United States, the company intends to support United States supply chain independence by finding and delivering the critical metals necessary for the electrification of the economy. The company also operates a 50/50 joint venture with Saudi Arabian Mining Company Ma’aden to explore for minerals on approximately 48,500 square kilometres of underexplored Arabian Shield in the Kingdom of Saudi Arabia.
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