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Ivanhoe Electric Inc. (IE) has shared an announcement.
Mesa Cobre Holding Corporation, a subsidiary of Ivanhoe Electric Inc., has finalized the acquisition of mineral rights for the Santa Cruz Project in Arizona, with a total investment of $27.9 million. The deal, completed on August 13, 2024, includes future payment obligations based on mineral reserves and production. Mesa Cobre also retains the discretion to commence commercial mining operations, with additional financial terms outlined, including payments linked to the quantity of copper discovered and produced.
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