Ivanhoe Electric Completes Feasibility Study for $1.4B Santa Cruz Copper Project in Arizona

Ivanhoe Electric Inc. has completed a Preliminary Feasibility Study for its Santa Cruz Copper Project in Arizona, revealing strong economic potential with an after-tax net present value (NPV) of up to $1.9 billion and an internal rate of return (IRR) of 24% at current copper prices. The underground mine is expected to produce 72,000 tonnes of copper cathode annually for the first 15 years of its 23-year life, with total production estimated at 1.4 million tonnes. Construction is planned to begin in the first half of 2026, targeting initial copper production by 2028. The project benefits from its location on private land, facilitating a streamlined permitting process and positioning it as a major domestic copper producer to support the green energy transition. Ivanhoe Electric is actively pursuing various financing options, including potential support from U.S. government agencies, commercial lenders, and strategic partners. Despite some concerns about the company's current financial performance, the project’s robust fundamentals and strategic importance to the U.S. copper supply chain have positively influenced investor sentiment.