Welcome to our dedicated page for Ivanhoe Electric news (Ticker: IE), a resource for investors and traders seeking the latest updates and insights on Ivanhoe Electric stock.
Ivanhoe Electric Inc. (NYSE American: IE, TSX: IE) is a cutting-edge American technology and mineral exploration company that is revolutionizing the mining industry through its innovative approach to the electrification of everything. Combining advanced mineral exploration technologies with a focus on renewable energy storage solutions and electric metals projects, Ivanhoe Electric operates predominantly in the United States.
The company employs its proprietary Typhoon™ transmitter, a state-of-the-art geophysical survey system, to enhance the accuracy and efficiency of mineral exploration. This system, together with advanced data analytics provided by its subsidiary, Computational Geosciences, significantly accelerates and de-risks the mineral exploration process. Typhoon™ is pivotal in discovering deposits of critical metals that remain elusive to traditional exploration methods.
Ivanhoe Electric is actively developing a portfolio of electric metals projects primarily in the United States, with the Santa Cruz Copper Project in Arizona and the Tintic Copper-Gold Project in Utah as notable highlights. The company also owns a controlling interest in VRB Energy, which focuses on developing and manufacturing advanced grid-scale vanadium redox battery storage systems. These batteries are crucial for enhancing renewable energy storage capabilities, making a significant contribution to the energy transition.
Financially robust, Ivanhoe Electric derives a majority of its revenue from Canada and operates across three main segments:
- Critical Metals Segment: Focused on the exploration and development of mineral projects essential for electrification.
- Data Processing Segment: Offers data analytics, geophysical modeling, and AI services for the mineral, oil & gas, and water exploration industries.
- Energy Storage Segment: Develops, manufactures, and installs vanadium flow batteries for large-scale energy storage.
In partnership with Saudi Arabian Mining Company Ma'aden, Ivanhoe Electric is exploring an expansive area of approximately 48,500 km² on the Arabian Shield, showcasing its commitment to global mineral exploration. The company’s recent joint venture with BHP for exploration in the Southwest United States further underscores its strategic direction and potential for growth.
Ivanhoe Electric continues to make significant strides in mineral exploration and technology advancements, ensuring a sustainable and independent supply chain for critical metals necessary for the electrification of the economy. Stay updated on Ivanhoe Electric's latest news and developments via their investor relations website.
SES AI Corporation, a leader in lithium-metal rechargeable batteries for electric vehicles, announced the retirement of Robert Friedland from its board of directors, effective March 15, 2023. Friedland was instrumental in SES's transition from R&D to a global manufacturing company, contributing to significant milestones like the launch of the first 100Ah Li-Metal cell in 2021. SES is now preparing to enter B-samples and establish a North American EV battery supply chain. The company is actively seeking a replacement for Friedland, focusing on leaders in electric vehicles and battery technology.
Ivanhoe Electric announces the appointment of Patrick Loftus-Hills to its Board of Directors, replacing Oskar Lewnowski, who steps down to focus on Orion Resource Partners. Loftus-Hills, with over 35 years in the mining and finance sectors, is currently a Senior Advisor at Moelis & Company and has held senior roles at UBS. His expertise in investment banking and mining transactions is expected to benefit Ivanhoe Electric's strategic initiatives. Loftus-Hills expressed enthusiasm about the company's potential in mineral exploration and electrification.
Ivanhoe Electric (NYSE American:IE) has reported positive drilling results at the Santa Cruz Copper Project in Arizona. Drill hole SCC-122 intersected soluble copper minerals, indicating expansion potential of the resource. Infill drill hole SCC-058 showed 55 meters grading 3.10% copper, with a notable section grading 4.15% copper. An Initial Assessment is underway to evaluate the economics of a potential underground mine. The project utilizes Ivanhoe's proprietary Typhoon technology to optimize drilling operations. This update follows a Mineral Resource Estimate from December 31, 2022, supporting continued high-grade copper mineralization.
Ivanhoe Electric has signed an agreement to earn an 80% interest in the White Hill Copper Project in Nevada, partnering with Exiro Minerals. The project spans 20,992 acres and contains promising copper-skarn mineralization.
Employing its proprietary Typhoon™ technology, Ivanhoe Electric aims to explore for larger mineralized systems at depth. The agreement requires Ivanhoe to invest $10 million and pay Exiro $4.95 million to secure its interest. White Hill is situated in a region known for significant copper production, making it strategically valuable for future exploration and development.
Ivanhoe Electric announced a significant update to the Mineral Resource Estimate for the Santa Cruz Copper Project, revealing a 65% increase in tonnage and an 82% increase in total contained copper in indicated resources. The overall project-wide contained copper in indicated resources rose by 11%, with the copper cut-off grade nearly doubling to 0.70%. Initial estimates from the adjacent East Ridge and Texaco deposits confirm expansion potential. Recent metallurgical tests indicate a recovery rate of up to 94% total copper with improved leach processes. An investor call is scheduled for February 14, 2023.
Ivanhoe Electric (NYSE American:IE) announces the appointment of Cassandra Joseph as Vice President, General Counsel, and Corporate Secretary, effective February 1, 2023. With over 20 years of legal experience in the U.S. mining sector, Ms. Joseph previously held senior roles at Nevada Copper and Tahoe Resources. Her extensive background in corporate, environmental, and intellectual property law is expected to significantly benefit the company. CEO Taylor Melvin expressed enthusiasm about her joining and anticipates her expertise will support Ivanhoe Electric’s corporate objectives and legal strategies in the mining industry.
Ivanhoe Electric has signed a binding agreement with Ma'aden to establish a 50/50 joint venture aimed at exploring approximately 48,500 km2 in Saudi Arabia. The partnership includes a strategic investment of US$126.4 million from Ma'aden, granting it a 9.9% stake in Ivanhoe Electric. This venture will leverage Ivanhoe's proprietary Typhoon technology for mineral exploration, enhancing Ma'aden's position as a supplier of strategic minerals. The deal is expected to close by the end of Q1 2023.
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