- Business
- Ivanhoe Electric Inc. is a mineral exploration company focused on discovering and developing deposits of copper, gold, silver and other critical metals essential for electrification, primarily in the United States. The company deploys proprietary technologies including the Typhoon geophysical surveying system for subsurface imaging and data analytics services from its subsidiary Computational Geosciences Inc.; it also develops vanadium redox flow batteries through its VRB Energy subsidiary for grid-scale energy storage. Ivanhoe Electric operates key projects such as the Santa Cruz Copper Project in Arizona, Tintic Copper-Gold Project in Utah, Hog Heaven project in Montana and a 50/50 joint venture with Saudi Arabian Mining Company (Ma'aden) exploring approximately 48,500 square kilometers on the Arabian Shield in Saudi Arabia; its data processing segment serves mineral, oil & gas and water exploration industries with geophysical modeling and artificial intelligence solutions, while the energy storage segment manufactures and installs long-duration batteries. Founded in 2020 and headquartered in Tempe, Arizona, the company trades on the TSX (IE.TO) and NYSE American (IE). Recent developments include making the final land acquisition payment at Santa Cruz in November 2025, securing credit approval for a $200 million bank facility and up to $825 million in potential Export-Import Bank financing to advance Santa Cruz development following a June 2025 preliminary feasibility study outlining strong economics for underground mining; completing a $172.5 million public offering in October 2025 via full exercise of underwriters' options; selling its remaining 50% stake in the Alacran Copper Project in Colombia through subsidiary Cordoba Minerals in May 2025; and expanding the Ma'aden joint venture with 1,345 square kilometers of new exploration licenses in September 2025.