The latest announcement is out from Ivanhoe Electric Inc. ( (IE) ).
Ivanhoe Electric Inc. has expressed strong support for the recent Executive Order signed by President Donald J. Trump, which aims to accelerate domestic production of critical metals, including copper, by leveraging the Defense Production Act. This order is expected to streamline the permitting process and provide financial support for domestic projects, which is seen as a significant boost for Ivanhoe Electric’s Santa Cruz Copper Project in Arizona. The company is progressing with advanced engineering studies for the project, with a Preliminary Feasibility Study expected by June 2025, and aims to start construction by the first half of 2026. This development is anticipated to enhance Ivanhoe Electric’s position in the industry and contribute to the U.S. supply chain security by producing approximately 80 thousand tonnes of copper annually.
More about Ivanhoe Electric Inc.
Ivanhoe Electric Inc. is a U.S. company specializing in advanced mineral exploration technologies and electric metals exploration projects, primarily in the United States. The company utilizes its Typhoon™ geophysical surveying system and advanced data analytics from its subsidiary, Computational Geosciences Inc., to discover new deposits of critical metals. Ivanhoe Electric focuses on copper and other metals like nickel, vanadium, cobalt, platinum group elements, gold, and silver, aiming to support U.S. supply chain independence through its projects, including the Santa Cruz Copper Project in Arizona and the Tintic Copper-Gold Project in Utah. Additionally, it operates a joint venture with Saudi Arabian Mining Company Ma’aden to explore the Arabian Shield in Saudi Arabia.
YTD Price Performance: -21.43%
Average Trading Volume: 680,904
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $821.9M
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