Mentioned:
One of the most promising copper projects in America is getting a major cash infusion.
What’s happening:
- Ivanhoe Electric (NYSE: IE) has raised $69M USD in a new equity financing round to advance their flagship Santa Cruz copper project located in Arizona
Why it matters:
- The Santa Cruz property is one of the largest copper deposits located on private land in the United States of America that has yet to be brought into full production
Going deeper:
- Ivanhoe Electric has designed an intricate plan to explore the Santa Cruz copper project using mainly renewable energy, aiming to eventually make it one of the premier projects in North America for low carbon copper production
- Ivanhoe Electric has deployed fleets of fully electric vehicles for underground mining and is also leveraging large scale solar energy and geothermal energy infrastructure at the Santa Cruz property to dramatically cut the amount of total emissions being caused by their operations