Ivanhoe Electric's Santa Cruz Copper Project Faces $2.9B Price Tag

Ivanhoe Electric (NYSE: IE) has released an updated Preliminary Feasibility Study & Technical Report Summary for its Santa Cruz Copper Project in Arizona. The study, conducted by various third-party qualified persons, estimates the project's total capital cost at $2.9 billion. According to the report, the project is expected to produce 1,141 million tonnes of copper over a mine life of 20 years.

The Santa Cruz Copper Project is located approximately 92 km south of the Phoenix metropolitan area and has access to well-developed infrastructure and services that support the mining industry. The climate in the region is typical of the Sonoran Desert, with temperatures ranging from -7°C to 47°C (19°F to 117°F) and an annual precipitation average ranging from 76 to 500 mm (3 to 30 inches) per year.

The project's mineral resources are reported using the definitions in Subpart 229.1300, Disclosure by Registrants Engaged in Mining Operations in Regulation S-K 1300, with expected accuracy of -20% to +25%. The report states that all capital and operating cost estimates meet the requirements of S-K 1300.