“Rather than operating as a traditional fee-based service provider, we contribute our technologies and technical expertise in exchange for equity participation.”
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What is Ivanhoe Electric’s focus?
Ivanhoe Electric is a US-based mineral exploration and development company headquartered in Tempe, Arizona, and listed on the NYSE American. Our portfolio of critical metals exploration assets is highlighted by the advanced-stage Santa Cruz copper project in Arizona. Santa Cruz is on track to become one of the largest new US copper mines in nearly two decades. Thanks to our high-grade reserves, Santa Cruz is designed to produce pure copper cathode on site to strengthen domestic supply chains. We expect to commence initial construction in early 2026 and reach first copper production in late 2028, subject to receipt of necessary permits and financing.
Thanks to our recent US$170 million equity financing and a US$200 million bank credit facility, we enter 2026 with significant liquidity to fund our business, including early-stage development at Santa Cruz and exploration programs. We have important exploration partnerships with BHP in the US and Maaden in Saudi Arabia.
We are focused on using technology to find and develop new sources of critical minerals the world needs to meet growing demand.
Could you tell us more about Ivanhoe Electric’s JV with Maaden?
We were honored to announce our 50:50 JV with Maaden at FMF 2023. As part of the JV, Maaden invested US$126 million to become a 9.9% shareholder in Ivanhoe Electric. We invested about half of those proceeds back into the JV to purchase three new Typhoon geophysical systems and fund exploration activities. Our JV covers over 50,000 km2 of exploration licenses and license application areas, primarily in the Arabian Shield. Our experienced team is looking for new discoveries of copper, gold, silver and other electric metals.
How does Typhoon work, and where is it operating in Saudi Arabia today?
Typhoon is a powerful ground-based geophysical surveying system that conducts electromagnetic and induced polarization surveys. Thanks to a proprietary design that delivers a clean and powerful signal, Typhoon is able to detect sulfide mineralization at great depths exceeding one kilometer. The data inversion software designed by our subsidiary, Computational Geosciences Inc., uses complex algorithms and machine-learning to develop detailed and accurate 3D models of underground anomalies that guide drilling activity. Our technology-driven platform effectively accelerates the mineral exploration process.
How do you plan to commercialize Typhoon?
We view Typhoon as a technology-for-equity platform. Rather than operating as a traditional fee-based service provider, we contribute our technologies and technical expertise in exchange for equity participation. Our goal is to apply this model globally to discover new mineral deposits while retaining equity interests, creating long-term shareholder value.
How is Ivanhoe Electric building local mining expertise in Saudi Arabia?
From the outset, it has been a critical priority for our Joint Venture to employ a Saudi workforce and contribute meaningfully to the local economy. We have focused on hiring the best talent in Saudi Arabia to advance our exploration programs. Our current Saudization level is “platinum,” the highest designation, reflecting our commitment to local workforce development. We continue to prioritize educating and training local employees, ensuring the JV supports both exploration objectives and sustainable economic contribution.
What role is Saudi Arabia’s mining industry set to play in the coming years?
Saudi Arabia has taken a global leadership role in advancing the exploration and development of critical minerals as part of Vision 2030, which intends to establish mining as the third pillar of the Saudi economy. The Kingdom’s recognition of the essential role these metals play in building a modern, technology-driven economy has been matched by significant investments in unlocking the country’s vast mineral potential. Saudi Arabia’s importance in the global mining industry is evident in the rapid growth and success of the Future Minerals Forum, which has become a leading platform for industry collaboration.
What would you say makes Ivanhoe Electric a compelling investment opportunity?
Ivanhoe Electric was founded by Robert Friedland, one of the most successful entrepreneurs and technology innovators in the global mining industry. The Company combines advanced exploration technologies with a dynamic portfolio of critical metals exploration projects, including partnerships with Maaden and BHP, and an advanced-stage high-grade copper project in the United States. We have an experienced team and a strong balance sheet to deliver on our ambitious business plans in 2026 and beyond.
What is Ivanhoe Electric’s focus?
Ivanhoe Electric is a US-based mineral exploration and development company headquartered in Tempe, Arizona, and listed on the NYSE American. Our portfolio of critical metals exploration assets is highlighted by the advanced-stage Santa Cruz copper project in Arizona. Santa Cruz is on track to become one of the largest new US copper mines in nearly two decades. Thanks to our high-grade reserves, Santa Cruz is designed to produce pure copper cathode on site to strengthen domestic supply chains. We expect to commence initial construction in early 2026 and reach first copper production in late 2028, subject to receipt of necessary permits and financing.
Thanks to our recent US$170 million equity financing and a US$200 million bank credit facility, we enter 2026 with significant liquidity to fund our business, including early-stage development at Santa Cruz and exploration programs. We have important exploration partnerships with BHP in the US and Maaden in Saudi Arabia.
We are focused on using technology to find and develop new sources of critical minerals the world needs to meet growing demand.
Could you tell us more about Ivanhoe Electric’s JV with Maaden?
We were honored to announce our 50:50 JV with Maaden at FMF 2023. As part of the JV, Maaden invested US$126 million to become a 9.9% shareholder in Ivanhoe Electric. We invested about half of those proceeds back into the JV to purchase three new Typhoon geophysical systems and fund exploration activities. Our JV covers over 50,000 km2 of exploration licenses and license application areas, primarily in the Arabian Shield. Our experienced team is looking for new discoveries of copper, gold, silver and other electric metals.
How does Typhoon work, and where is it operating in Saudi Arabia today?
Typhoon is a powerful ground-based geophysical surveying system that conducts electromagnetic and induced polarization surveys. Thanks to a proprietary design that delivers a clean and powerful signal, Typhoon is able to detect sulfide mineralization at great depths exceeding one kilometer. The data inversion software designed by our subsidiary, Computational Geosciences Inc., uses complex algorithms and machine-learning to develop detailed and accurate 3D models of underground anomalies that guide drilling activity. Our technology-driven platform effectively accelerates the mineral exploration process.
How do you plan to commercialize Typhoon?
We view Typhoon as a technology-for-equity platform. Rather than operating as a traditional fee-based service provider, we contribute our technologies and technical expertise in exchange for equity participation. Our goal is to apply this model globally to discover new mineral deposits while retaining equity interests, creating long-term shareholder value.
How is Ivanhoe Electric building local mining expertise in Saudi Arabia?
From the outset, it has been a critical priority for our Joint Venture to employ a Saudi workforce and contribute meaningfully to the local economy. We have focused on hiring the best talent in Saudi Arabia to advance our exploration programs. Our current Saudization level is “platinum,” the highest designation, reflecting our commitment to local workforce development. We continue to prioritize educating and training local employees, ensuring the JV supports both exploration objectives and sustainable economic contribution.
What role is Saudi Arabia’s mining industry set to play in the coming years?
Saudi Arabia has taken a global leadership role in advancing the exploration and development of critical minerals as part of Vision 2030, which intends to establish mining as the third pillar of the Saudi economy. The Kingdom’s recognition of the essential role these metals play in building a modern, technology-driven economy has been matched by significant investments in unlocking the country’s vast mineral potential. Saudi Arabia’s importance in the global mining industry is evident in the rapid growth and success of the Future Minerals Forum, which has become a leading platform for industry collaboration.
What would you say makes Ivanhoe Electric a compelling investment opportunity?
Ivanhoe Electric was founded by Robert Friedland, one of the most successful entrepreneurs and technology innovators in the global mining industry. The Company combines advanced exploration technologies with a dynamic portfolio of critical metals exploration projects, including partnerships with Maaden and BHP, and an advanced-stage high-grade copper project in the United States. We have an experienced team and a strong balance sheet to deliver on our ambitious business plans in 2026 and beyond.
