• Ivanhoe Electric outlined updated development approach for Santa Cruz copper project in Arizona, centered on a tunnel boring machine to drive a single decline about 4 km long and 9.3 meters in diameter.
• Plan targets higher advance rates of about 10 meters per day, roughly double roadheader rates, while installing a life-of-mine conveyor during excavation.
• Switch to TBM design seen with minimal impact on initial capital, estimated at under USD 20 million, while removing need for underground injection control permit tied to silica gel.
• 2025 preliminary feasibility study economics at USD 4.25 per pound copper: initial capex USD 1.24 billion, after-tax NPV8% USD 1.4 billion, after-tax IRR 20%, payback 4.4 years.
• Balance sheet snapshot: 158 million shares outstanding, market capitalization USD 2.4 billion, cash and equivalents USD 290 million.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Ivanhoe Electric Inc. published the original content used to generate this news brief on May 15, 2026, and is solely responsible for the information contained therein.