• Ivanhoe Electric moved to acquire purpose-built Robbins Crossover XRE tunnel boring machine and material handling system for decline development at Santa Cruz Copper Project in Arizona.
• Purchase follows legally binding option secured in March 2026; Ivanhoe Electric notified Robbins on May 8 it intends to exercise option, with definitive agreements expected before month-end.
• TBM previously completed two declines totaling 1.8 km at Anglo American’s Grosvenor coal mine in Queensland in 1,000 hours of underground use.
• Machine will be overhauled by Robbins, including refurbished 9.3-meter diameter cutterhead, with upgrades tailored to Santa Cruz ground conditions.
• Ownership of crossover TBM positioned to support potential future access and expansion toward nearby Texaco deposit about 2 km northeast of Santa Cruz.

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 11, 2026, and is solely responsible for the information contained therein.