Ivanhoe Electric Inc.

Ivanhoe Electric Inc. is a junior copper development company headquartered in Tempe, United States, operating primarily in USA. The company's portfolio consists of 6 projects, comprising 1 development and 5 advanced exploration projects. Key assets include Santa Cruz and Tintic. The business model centers on leveraging a proprietary, technology-driven exploration platform to discover and develop new sources of critical metals. This platform's core components are the Typhoon™ geophysical surveying system, which provides deep subsurface imaging capabilities, and advanced, machine learning-based inversion software from its 94%-owned subsidiary, Computational Geosciences Inc. This integrated technology stack is designed to accelerate the exploration process, de-risk drill targeting, and efficiently survey large, underexplored areas that are challenging for conventional methods. The operational approach emphasizes rapid data acquisition and analysis to guide exploration efforts. In addition to its core minerals exploration activities, the organization operates a complementary business focused on the energy transition through its 90% interest in VRB Energy. This subsidiary is dedicated to developing, manufacturing, and installing vanadium redox flow batteries, providing grid-scale energy storage solutions designed for integration with renewable power sources. This dual focus positions the company to participate in both the supply of raw materials for electrification and the deployment of energy storage infrastructure.

Strategic priorities center on utilizing a proprietary technology platform to accelerate and de-risk the mineral exploration process. The approach involves deploying the Typhoon™ geophysical surveying system and advanced machine learning software to rapidly identify and guide drilling on promising targets. A key component of this strategy is the formation of large-scale exploration partnerships to explore vast, underexplored land packages while sharing costs and risks. The organization also aims to advance its own projects towards production, with a stated goal of designing modern, clean, low-emission operations powered by renewable energy. This includes accelerating project financing and permitting activities to position for potential construction starts. The strategy also encompasses establishing a domestic business in vanadium redox flow batteries to support grid-scale energy storage applications, thereby addressing another facet of the global energy transition. This dual-pronged approach aims to create value through both direct project development and technology-leveraged exploration alliances with major industry partners.

Executive leadership is headed by founder and Executive Chairman Robert Friedland, a recognized entrepreneurial explorer and technology innovator, alongside President and CEO Taylor Melvin, who has over 20 years of experience in corporate development and investment banking. The Board of Directors is composed of 9 members. The governance framework is supported by specialized board committees, including an Audit Committee, a Compensation and Nominating Committee, and a Health, Safety and Environmental (HS&E) Committee, which was established in 2024. The HS&E and Audit Committees are tasked with ensuring accurate reporting on ESG matters, while the board also oversees human capital management policies. This structure provides direct oversight of key business areas, including financial reporting, executive compensation, and sustainability initiatives, reflecting a commitment to robust corporate governance. The leadership team's experience is focused on exploration, technology innovation, and company building within the natural resources sector.

The organization's approach to sustainability is integrated into its operational planning, with a commitment to developing modern, clean mining operations. Key environmental initiatives include designing facilities to be powered by up to 70% renewable energy to achieve low carbon dioxide emissions per unit of production. The company also focuses on optimizing water resources and minimizing its environmental footprint. Social commitments include prioritizing the health and safety of employees and contractors, ensuring workforce diversity, and hiring from local communities. The entity engages with local stakeholders through open and transparent communication to build trust and provide long-term mutual benefits. Governance is strengthened by the 2023 hiring of a full-time senior leader dedicated to ESG initiatives and the 2024 establishment of a Board-level Health, Safety and Environmental (HS&E) Committee. This committee oversees key health, safety, environmental, and social policies, risks, and opportunities affecting the business.

The corporate structure includes several key subsidiaries and strategic partnerships. The company holds a 94.3% controlling interest in Computational Geosciences Inc., which provides advanced data inversion services. It also has a 90% interest in VRB Energy, which in October 2024 formed a 49%/51% joint venture with a subsidiary of Shanxi Red Sun Co., Ltd. to manufacture and sell vanadium redox flow batteries. In 2023, the company established a 50/50 exploration joint venture with Saudi Arabian Mining Company Ma’aden to explore approximately 48,500 square kilometers of land. A similar exploration alliance was formed in 2024 with BHP to search for critical minerals, with BHP providing an initial $15 million in funding. The company also holds a 62.5% interest in publicly-traded Cordoba Minerals Corp., which itself entered a 50/50 joint venture with JCHX Mining Management Co., Ltd. in 2022 to develop the Alacran Project. In February 2024, the company acquired the remaining shares of Kaizen Discovery Inc. to achieve 100% ownership. Ma'aden became a major shareholder in 2023, holding a 9.9% interest with a corresponding board seat and top-up rights.