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Ivanhoe Electric Makes Final Land Acquisition Payment at the Santa Cruz Copper Project in Arizona
Final Payment Clears Way for Initial Mine Construction Activities Subject to Receipt of PermitsPhoenix, Arizona--(Newsfile Corp. - November 19, 2025) - Ivanhoe Electric Inc. (NYSE American: IE) (TSX: IE) ("Ivanhoe Electric") Executive Chairman Robert Friedland and President and Chief Executive Officer Taylor Melvin are pleased to announce that Ivanhoe Electric has accelerated and completed the final three land acquisition payments, totaling $39.3 million, at the Santa Cruz Copper Project in...
About this update from Ivanhoe Electric Inc.
[{"type":"text","content":"Final Payment Clears Way for Initial Mine Construction Activities Subject to Receipt of Permits","length":95,"tagName":"p","attribs":{"class":"nfSubHeading"},"className":""},{"type":"text","content":"Phoenix, Arizona--(Newsfile Corp. - November 19, 2025) - Ivanhoe Electric Inc. (NYSE American: IE) (TSX: IE) ("Ivanhoe Electric") Executive Chairman Robert Friedland and President and Chief Executive Officer Taylor Melvin are pleased to announce that Ivanhoe Electric has accelerated and completed the final three land acquisition payments, totaling $39.3 million, at the Santa Cruz Copper Project in Arizona, satisfying all remaining terms of the Purchase and Sale Agreement with Wolff-Harvard Ventures LLC (refer to Ivanhoe Electric's May 11, 2023 news release). The promissory note previously issued, and now repaid, required the full outstanding balance to be paid by Ivanhoe Electric prior to commencement of major mine construction activities.","length":768,"tagName":"p"},{"type":"text","content":"Mr. Melvin commented: "Accelerating our final land payments is a key step in the development of our Santa Cruz Copper Project. With a strong balance sheet and experienced project team, we are well-positioned to commence initial construction at Santa Cruz in early 2026 subject to receipt of necessary permits. We remain on track to achieve our goal of delivering first copper cathode production by late 2028."","length":419,"tagName":"p"},{"type":"text","content":"About Ivanhoe Electric","length":22,"tagName":"p"},{"type":"text","content":"We are a United States domiciled minerals exploration company with a focus on developing mines from mineral deposits principally located in the United States. We seek to support American supply chain independence by finding and delivering copper and other critical metals vital to advanced manufacturing, infrastructure development, technology, and national security. We use our powerful Typhoon™ geophysical surveying system, together with advanced data analytics provided by our 94.3% owned subsidiary, Computational Geosciences Inc. ("CGI"), 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 unde...