Ivanhoe Electric's Santa Cruz Project: A New Era for US Mining with Breakthrough Technology

Casa Grande, Arizona, July 28, 2025 – Ivanhoe Electric is pioneering a revolution in the US mining industry with its Santa Cruz copper project. This project not only promises to be a critical source of domestic copper but also serves as a model for sustainable extraction, thanks to the application of advanced geophysical technologies and innovative mining methods. With an estimated resource of 11.95 billion pounds of copper, Santa Cruz is positioned to meet the growing demands of the energy transition.

Decoding the Core Technology: Typhoon™ and In-Situ Recovery (ISR)

The distinction of the Santa Cruz project lies in its dual-technology approach, which optimizes everything from exploration to extraction while minimizing environmental impact.

1. The Typhoon™ Geophysical System: "Eyes" into the Earth's Depths
Typhoon™ is Ivanhoe Electric's proprietary geophysical survey system. It is not an extraction technology, but an incredibly powerful exploration tool. It works by transmitting high-power electrical currents into the ground and using a network of sensors to measure resistivity. This data allows geologists to create detailed 3D maps of sulfide mineral structures at great depths (over 1.5 km). Thanks to Typhoon™, Ivanhoe can precisely identify the location and scale of copper orebodies without extensive exploratory drilling, saving costs and significantly reducing surface disturbance.

2. In-Situ Recovery (ISR): Mining Without Digging
Instead of traditional methods like underground or open-pit mining, Santa Cruz will employ the ISR method. This process involves the following steps:

• Injection Wells: A leaching solution (lixiviant), typically dilute sulfuric acid, is pumped directly into the underground orebody.
• Mineral Dissolution: This solution circulates through the fractures of the ore block, dissolving the copper.
• Recovery Wells: The pregnant leach solution (PLS), now rich with copper, is then pumped to the surface.
• Surface Processing: The PLS is processed through a solvent extraction and electrowinning (SX/EW) plant to produce 99.99% pure copper cathodes.

Project Scale and Strategic Importance

The Preliminary Feasibility Study (PFS) has outlined a project of impressive scale and economic efficiency, underscoring its strategic role for US mineral security.

Key Project Metrics:

• Total Mineral Resource: 11.95 billion pounds (approximately 5.42 million tonnes) of copper.
• Project Lifespan: Estimated at 20 years.
• Annual Production: Expected to reach a peak of 100 million pounds (approximately 45,350 tonnes) of copper cathode per year.
• Initial Capital Expenditure (CAPEX): Approximately $1.24 billion.

Conclusion: A Model for the Future

Ivanhoe Electric's Santa Cruz project is more than just a new copper mine. It represents a paradigm shift in the mining industry: using high technology for selective extraction, minimizing environmental impact, and maximizing efficiency. By combining the precise exploration capabilities of the Typhoon™ system with the low-impact ISR mining method, this project is setting a new standard for how the world can responsibly source the critical metals needed for a sustainable future.

Source: Analysis based on Ivanhoe Electric's Preliminary Feasibility Study and related technical documents as of July 28, 2025.