Ivanhoe Electric Completes Full Acquisition of Santa Cruz Copper Mineral Rights
PHOENIX, ARIZONA – 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 have announced that the Company, through its wholly-owned subsidiary Mesa Cobre Holding Corporation (“Mesa Cobre”), completed the final US$10 million payment to exercise its option to acquire 100% ownership of the mineral rights at the Santa Cruz Copper Project in Arizona.
Following this transaction, Ivanhoe Electric now owns 100% of the mineral and surface rights for the Santa Cruz Copper Project.
Taylor Melvin, Ivanhoe Electric’s President and Chief Executive Officer, commented: “Completing our option agreement and securing 100% ownership of the mineral rights at our Santa Cruz Copper Project in Arizona is an important milestone for our Company.
We have now completed the consolidation of surface and mineral rights ownership at one of the largest and highest grade undeveloped copper resources in the United States that is located entirely on private land.”
Figure 1. Plan view map of land and mineral rights acquired at the Santa Cruz Copper Project, Arizona.
