Ivanhoe Electric Announces Multi-Year Sponsorship with the Native American Mining and Energy Sovereignty Initiative (NAMES) through Colorado School of Mines

Rhea-AI Summary

Ivanhoe Electric has announced a multi-year sponsorship of $150,000 with the Native American Mining and Energy Sovereignty Initiative (NAMES), part of the Payne Institute for Public Policy at the Colorado School of Mines. This initiative aims to support Tribal communities by fostering educational opportunities in energy and natural resources. Ivanhoe Electric's funding will assist Native American students in gaining admissions, retention, and graduation at both undergraduate and graduate levels. Additionally, it will support advanced research and development of Tribal energy and mineral initiatives and develop STEM programs focusing on Native American needs. The inaugural event for NAMES, co-hosted by the Southern Ute Indian Tribe, will take place on May 20-21 in Ignacio, Colorado. Ivanhoe Electric is committed to empowering Tribal communities and promoting social and economic progress through this partnership.

Positive

• Ivanhoe Electric commits $150,000 to support NAMES over multiple years.
• The initiative aims to assist Native American students in education and professional development.
• Funding will support advanced research in Tribal energy and mineral initiatives.
• Development of Native American-focused STEM activities and programs is a priority.
• Partnership reflects Ivanhoe Electric’s commitment to social and economic progress for Tribal communities.

Negative

• The press release does not specify the duration of the multi-year commitment, leaving the total financial impact unclear.
• No immediate financial returns or benefits for Ivanhoe Electric and its shareholders were mentioned in the PR.
• Potential investor concerns about the impact on company resources directed towards non-core activities.

PHOENIX, AZ / ACCESSWIRE / May 16, 2024 / Ivanhoe Electric Inc. ("Ivanhoe Electric") (NYSE American:IE)(TSX:IE) Executive Chairman Robert Friedland, and President and Chief Executive Officer Taylor Melvin, are pleased to announce its multi-year commitment for a $150,000 contribution to the Native American Mining and Energy Sovereignty Initiative ("NAMES"), part of the Payne Institute for Public Policy at Colorado School of Mines ("Mines"), one of the world's foremost universities of mineral and energy engineering.

NAMES serves as a beacon of support for Tribal communities, facilitating dialogue between stakeholders and driving forward-thinking discussions on mineral and energy development in the western United States. Through this partnership, Ivanhoe Electric joins NAMES in its mission to empower Tribal communities by encouraging and financially supporting educational opportunities in the fields of energy and natural resources. Ivanhoe Electric is proud to help lay the groundwork for long-term prosperity and self-determination through the NAMES initiative.

Mr. Melvin commented: "We are thrilled to embark on this partnership with Colorado School of Mines' Payne Institute to support the NAMES Initiative and its vital mission of empowering Tribal communities and creating opportunities in the mining sector. Our sponsorship reflects Ivanhoe Electric's commitment to promoting social and economic progress for Tribal communities across the western United States. We look forward to creating a sustained engagement and impactful contribution to Tribal communities through our partnership with NAMES."

Morgan Bazilian, Director, Payne Institute and Mines Professor of Public Policy commented: "We are grateful for the support of Ivanhoe Electric. The NAMES initiative will help support Tribal sovereignty through scholarships all the way through doctoral studies in industries that are critical to the Tribes and their people."

Ivanhoe Electric's sponsorship will help fund development to:

• Support Native American students at Mines including their admission, retention, development, and graduation at the undergraduate and graduate levels;
• Fund programs to support advanced research and development of Tribal energy and mineral-related initiatives;
• Develop Native American-focused STEM activities and programs.

Rick Tallman, NAMES' Payne Institute Affiliated Partner and Mines Foundation Board of Governors Member commented: "Ivanhoe Electric's commitment to support Tribal knowledge and sovereignty demonstrates true vision and leadership at this critical moment in American mining history. The world is changing, and through the NAMES Initiative, Mines is working with Tribal communities and industry partners like Ivanhoe Electric to create new ways to engage local communities and support the growing demand for critical minerals."

NAMES' inaugural event is scheduled for May 20 and 21 in Ignacio, Colorado, and will be co-hosted by the Southern Ute Indian Tribe on their land. Ivanhoe Electric will participate in this milestone event and looks forward to working together with all stakeholders of the NAMES Initiative to achieve the mutual objectives of empowerment, equity, prosperity, and sustainability.

About Ivanhoe Electric
We are a U.S. company that combines advanced mineral exploration technologies with electric metals exploration projects predominantly located in the United States. We use our accurate and powerful Typhoon^™ geophysical surveying system, together with advanced data analytics provided by our subsidiary, Computational Geosciences Inc., to accelerate and de-risk the mineral exploration process as we seek to discover new deposits of critical metals that may otherwise be undetectable by traditional exploration technologies. We believe the United States is significantly underexplored and has the potential to yield major new discoveries of critical metals. Our 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, we intend to support United States supply chain independence by finding and delivering the critical metals necessary for the electrification of the economy. We also operate a 50/50 joint venture with Saudi Arabian Mining Company Ma'aden to explore for minerals on ~48,500 km² of underexplored Arabian Shield in the Kingdom of Saudi Arabia. Website: www.ivanhoeelectric.com.

About The Payne Institute for Public Policy
The Payne Institute for Public Policy at Colorado School of Mines is in a unique position to serve as a nexus for high-quality, data-driven, solutions-oriented research and dialogue needed to inform energy and environmental policy at this critical moment. The Payne Institute can harness the faculty and student body of an institution with deep roots in mining and petroleum engineering, but also with superb programs and longstanding relationships spanning renewable energy, water purification, civil and environmental engineering, materials science and other areas. Mines has an unmatched track record in solving tough scientific and engineering problems across the gamut of energy and environmental fields. The university enjoys a hard-earned reputation as an unbiased problem-solver in disciplines often at odds in the energy-environment discussion; the university tagline, a marriage of the words "Earth" "Energy" and "Environment," is in fact an accurate reflection of our expansive and growing purview.

About Native American Mining and Energy Sovereignty Initiative (NAMES)
The Native American Mining and Energy Sovereignty (NAMES) Initiative is part of the Payne Institute for Public Policy at Colorado School of Mines, one of the world's foremost universities of mineral and energy engineering. The Initiative was established to be a strong supporter of tribal communities, an effective convener to industry and a thought leader in the national conversation on new critical mineral and energy development in the western U.S. The Initiative will empower tribal communities through knowledge and collaboration to find financial success in the energy transition while gaining energy security and sovereignty for their people.

Contact Information
Ivanhoe Electric
Email: info@ivanhoeelectric.com
NAMES Initiative
Rick Tallman, NAMES' Payne Institute Affiliated Partner and Mines Foundation Board of Governors member
Email: Richard.Tallman@Mines.edu

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Ivanhoe Electric's Executive Chairman Robert Friedland: @robert_ivanhoe

Ivanhoe Electric: @ivanhoeelectric

Ivanhoe Electric's investor relations website located at www.ivanhoeelectric.com should be considered Ivanhoe Electric's recognized distribution channel for purposes of the Securities and Exchange Commission's Regulation FD.

SOURCE: Ivanhoe Electric Inc.

View the original press release on accesswire.com

FAQ

What is Ivanhoe Electric's contribution to the Native American Mining and Energy Sovereignty Initiative?

Ivanhoe Electric is contributing $150,000 to support the Native American Mining and Energy Sovereignty Initiative (NAMES).

How will Ivanhoe Electric's sponsorship benefit Native American students?

The sponsorship will aid Native American students with admission, retention, and graduation at both undergraduate and graduate levels.

What is the focus of the NAMES initiative supported by Ivanhoe Electric?

NAMES focuses on empowering Tribal communities by encouraging educational opportunities and supporting advanced research in energy and natural resources.

When and where is the inaugural event for the NAMES initiative?

The inaugural event will take place on May 20-21 in Ignacio, Colorado, co-hosted by the Southern Ute Indian Tribe.

What are the primary goals of Ivanhoe Electric's partnership with NAMES?

The primary goals are to empower Tribal communities, promote equity, prosperity, and sustainability, and support the growing demand for critical minerals.