Ivanhoe Electric Secures 100% Ownership of Mineral Rights at its Santa Cruz Copper Project with Final Option Payment
Ivanhoe Electric Inc. (NYSE American:IE, TSX:IE) has completed the final US$10 million payment to acquire 100% ownership of the mineral rights at its Santa Cruz Copper Project in Arizona. This transaction marks a significant milestone for the company, as it now owns both the mineral and surface rights for the project. The Santa Cruz Copper Project is described as one of the largest and highest grade undeveloped copper resources in the United States located entirely on private land.
Taylor Melvin, Ivanhoe Electric's President and CEO, emphasized the importance of this acquisition, highlighting the consolidation of surface and mineral rights ownership. The company's Executive Chairman, Robert Friedland, also expressed satisfaction with this development.
Ivanhoe Electric Inc. (NYSE American:IE, TSX:IE) ha completato il pagamento finale di 10 milioni di dollari USA per acquisire il 100% dei diritti minerari del suo Santa Cruz Copper Project in Arizona. Questa transazione rappresenta una tappa importante per l'azienda, poiché ora possiede sia i diritti minerari che quelli di superficie per il progetto. Il Santa Cruz Copper Project è descritto come una delle più grandi e pregiate risorse di rame non sviluppate negli Stati Uniti, situato interamente su terreni privati.
Taylor Melvin, Presidente e CEO di Ivanhoe Electric, ha sottolineato l'importanza di questa acquisizione, evidenziando la consolidazione della proprietà dei diritti di superficie e minerari. Anche il Presidente Esecutivo dell'azienda, Robert Friedland, ha espresso soddisfazione per questo sviluppo.
Ivanhoe Electric Inc. (NYSE American:IE, TSX:IE) ha completado el pago final de 10 millones de dólares estadounidenses para adquirir el 100% de propiedad de los derechos minerales en su Proyecto de Cobre Santa Cruz en Arizona. Esta transacción marca un hito significativo para la compañía, ya que ahora posee tanto los derechos minerales como los de superficie para el proyecto. El Proyecto de Cobre Santa Cruz se describe como uno de los recursos de cobre no desarrollados más grandes y de mayor calidad en los Estados Unidos, ubicado completamente en tierras privadas.
Taylor Melvin, Presidente y CEO de Ivanhoe Electric, enfatizó la importancia de esta adquisición, destacando la consolidación de la propiedad de los derechos de superficie y minerales. El Presidente Ejecutivo de la compañía, Robert Friedland, también expresó satisfacción por este desarrollo.
아이반호 일렉트릭 주식회사 (NYSE American:IE, TSX:IE)는 최종 1천만 달러 지급을 완료했습니다 한 후, 아리조나의 산타 크루즈 구리 프로젝트에 대한 100% 소유권을 획득했습니다. 이번 거래는 회사에 중요한 이정표가 되며, 이제 프로젝트의 광물 권리와 표면 권리를 모두 소유하게 되었습니다. 산타 크루즈 구리 프로젝트는 미국 내에서 개발되지 않은 가장 크고 품질이 높은 구리 자원 중 하나로, 전적으로 사유지에 위치하고 있습니다.
아이반호 일렉트릭의 사장 겸 CEO인 테일러 멜빈은 이번 인수의 중요성을 강조하며 표면 및 광물 권리 소유의 통합을 강조했습니다. 회사의 의장이기도 한 로버트 프리드랜드는 이 발전에 대한 만족감을 표현했습니다.
Ivanhoe Electric Inc. (NYSE American:IE, TSX:IE) a achevé le dernier paiement de 10 millions de dollars américains pour acquérir 100 % des droits miniers sur son Projet de Cobre Santa Cruz en Arizona. Cette transaction marque une étape significative pour l’entreprise, car elle possède désormais à la fois les droits miniers et de surface pour le projet. Le Projet de Cobre Santa Cruz est décrit comme l'une des plus grandes et des plus riches ressources en cuivre non développées aux États-Unis, situé entièrement sur des terres privées.
Taylor Melvin, Président et CEO d'Ivanhoe Electric, a souligné l'importance de cette acquisition, mettant en avant la consolidation des droits de surface et miniers. Le Président exécutif de l'entreprise, Robert Friedland, a également exprimé sa satisfaction quant à ce développement.
Die Ivanhoe Electric Inc. (NYSE American:IE, TSX:IE) hat die letzte Zahlung von 10 Millionen US-Dollar abgeschlossen, um 100% der Mineralrechte an ihrem Santa Cruz Copper Project in Arizona zu erwerben. Diese Transaktion stellt einen bedeutenden Meilenstein für das Unternehmen dar, da es nun sowohl die Mineral- als auch die Oberflächenrechte für das Projekt besitzt. Das Santa Cruz Copper Project gilt als eine der größten und hochwertigsten unerschlossenen Kupferressourcen in den Vereinigten Staaten, das vollständig auf privatem Land liegt.
Taylor Melvin, Präsident und CEO von Ivanhoe Electric, betonte die Bedeutung dieser Akquisition und hob die Konsolidierung des Eigentums an Oberflächen- und Mineralrechten hervor. Auch der Executive Chairman des Unternehmens, Robert Friedland, äußerte Zufriedenheit mit dieser Entwicklung.
- Acquired 100% ownership of mineral rights at Santa Cruz Copper Project
- Consolidated ownership of both surface and mineral rights
- Project described as one of the largest and highest grade undeveloped copper resources in the US
- Located entirely on private land, potentially simplifying development process
- US$10 million cash outlay for final payment
The completion of the
- It simplifies the regulatory process, potentially accelerating project development.
- Full ownership provides greater flexibility in project planning and execution.
- It enhances the project's value and attractiveness to potential partners or buyers.
The Santa Cruz project, being one of the largest undeveloped copper resources in the U.S., positions Ivanhoe Electric favorably in the copper market, which is expected to see increased demand due to electrification trends. However, investors should note that significant capital and time will still be required to bring this project to production.
The
- Asset value appreciation: Full ownership likely increases the book value of Ivanhoe's assets.
- Future revenue potential: The high-grade copper resource could translate into substantial future cash flows.
- Improved financing options: 100% ownership may facilitate easier project financing or joint venture negotiations.
However, investors should be aware that developing a large-scale copper project requires significant capital expenditure. The company's ability to finance future development stages and its timeline to potential production will be critical factors to monitor. The current copper price environment and long-term demand outlook will greatly influence the project's economic viability.
The acquisition of 100% mineral rights on private land for the Santa Cruz Copper Project presents both opportunities and challenges from an environmental perspective:
- Streamlined permitting: Private land ownership may simplify the environmental review process compared to federal lands.
- Greater control: Ivanhoe can implement comprehensive environmental management plans without conflicting land-use priorities.
- Potential challenges: Large-scale copper mining operations often face scrutiny regarding water usage, habitat disruption and long-term environmental impacts.
Investors should closely monitor Ivanhoe's environmental strategies and community engagement efforts. The company's ability to navigate environmental concerns and maintain a social license to operate will be important for the project's success and long-term sustainability.
PHOENIX, AZ / ACCESSWIRE / August 13, 2024 / Ivanhoe Electric Inc. ("Ivanhoe Electric", the "Company" or "IE") (NYSE American:IE)(TSX:IE) Executive Chairman Robert Friedland and President and Chief Executive Officer Taylor Melvin are pleased to announce that the Company, through its wholly-owned subsidiary Mesa Cobre Holding Corporation ("Mesa Cobre"), completed the final US
Taylor Melvin, Ivanhoe Electric's President and Chief Executive Officer, commented: "Completing our option agreement and securing
Figure 1. Plan view map of land and mineral rights acquired at the Santa Cruz Copper Project, Arizona.
Qualified Persons
Disclosures of a scientific or technical nature included in this news release, including the sampling, analytical and technical data underlying the information, have been reviewed, verified, and approved by Glen Kuntz, P.Geo., who is a Qualified Person as defined by Regulation S-K, Subpart 1300 promulgated by the U.S. Securities and Exchange Commission and by Canadian National Instrument 43-101. Mr. Kuntz is an employee of Ivanhoe Electric Inc.
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.
Contact Information
Ivanhoe Electric:
Email: info@ivanhoeelectric.com
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Ivanhoe Electric's Executive Chairman Robert Friedland: @robert_ivanhoe
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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.
Forward-Looking Statements
Certain statements in this news release constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable US and Canadian securities laws. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Ivanhoe Electric, its projects, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate", "estimate", "scheduled", "forecast", "predict" and other similar terminology, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. These statements reflect Ivanhoe Electric's current expectations regarding future events, performance and results and speak only as of the date of this news release.
Forward-looking statements are based on management's beliefs and assumptions and on information currently available to management. Such statements are subject to significant risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors, including changes in the prices of copper or other metals Ivanhoe Electric is exploring for; the results of exploration and drilling activities and/or the failure of exploration programs or studies to deliver anticipated results or results that would justify and support continued exploration, studies, development or operations; the final assessment of exploration results and information that is preliminary; the significant risk and hazards associated with any future mining operations, extensive regulation by the US government as well as local governments; changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts with Ivanhoe Electric to perform as agreed; and the impact of political, economic and other uncertainties associated with operating in foreign countries, and the impact of the COVID-19 pandemic and the global economy. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risk factors described in Ivanhoe Electric's Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission.
No assurance can be given that such future results will be achieved. Forward-looking statements speak only as of the date of this news release. Ivanhoe Electric cautions you not to place undue reliance on these forward-looking statements. Subject to applicable securities laws, Ivanhoe Electric does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release, and Ivanhoe Electric expressly disclaims any requirement to do so.
SOURCE: Ivanhoe Electric Inc.
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