Ivanhoe Electric Cuts $825 Million Deal For American Copper

Robert Friedland is one of the most important entrepreneurs in mining history. And now, his American based copper project has landed a massive new funding commitment.

‍What’s happening:‍

• Ivanhoe Electric (NYSE: IE) has received a letter of intent from the Export-Import Bank of the United States for a debt financing of $825M USD
  

Why it matters:‍

• Ivanhoe Electric has publicly stated they will use the new debt financing to advance their Santa Cruz Copper Project located in Arizona, which is one of the largest copper deposits in America located on private land
  

Going deeper:‍

• Ivanhoe Electric recently raised $69M USD in an equity financing round to leverage renewable energy sources including solar power and geothermal energy to begin advancing the Santa Cruz Copper Project
  
• Export-Import Bank of the United States has been making multiple funding commitments focused on critical minerals lately, including previously funding Perpetua Resources (NASDAQ: PPTA) to advance their antimony project located in Idaho
  

The fine print:‍

• The new deal between Export-Import Bank of the United States and Ivanhoe Electric is still not final until final due diligence of the Santa Cruz Copper Project is completed

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