{"id":77433,"date":"2023-05-16T00:35:32","date_gmt":"2023-05-16T00:35:32","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/05\/16\/maaden-moves-forward-with-buying-stakes-in-us-minerals-firm-ivanhoe-electric\/"},"modified":"2023-05-16T00:35:32","modified_gmt":"2023-05-16T00:35:32","slug":"maaden-moves-forward-with-buying-stakes-in-us-minerals-firm-ivanhoe-electric","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/05\/16\/maaden-moves-forward-with-buying-stakes-in-us-minerals-firm-ivanhoe-electric\/","title":{"rendered":"Ma\u2019aden moves forward with buying stakes in US minerals firm Ivanhoe Electric"},"content":{"rendered":"

<\/a> Ma\u2019aden inks agreement terms with Ivanhoe: <\/strong>Saudi Arabian state-owned mining company Ma\u2019aden has signed a conditional common shares subscription agreement with US mineral development company Ivanhoe Electric Inc. (IE) to acquire a 9.9% share of the company, according to a Tadawul filing<\/a>. Completion of the agreement will also see Ma\u2019aden establish a JV with IE for mining exploration in Saudi Arabia. The transaction is set to be completed in 3Q 2023, according to the statement.<\/p>\n

The details:<\/strong> Ma\u2019aden \u2014 which obtained its 9.9% stake in IE for USD 126 mn<\/a> \u2014 and IE will establish a 50-50 JV to explore and develop mining projects in Saudi Arabia, giving Ma\u2019aden access to proprietary technology that will enable it to detect minerals like copper, nickel, gold, and silver.<\/p>\n

REMEMBER- Saudi Arabia is <\/strong>looking to unlock<\/a><\/strong> an estimated USD 1.3 tn in mineral <\/strong>reserves<\/strong> and aims to become a global hub for the \u201cgreen metals\u201d needed in the energy transition, Saudi Energy Minister Prince Abdulaziz bin Salman said during the Future Minerals Forum held in Riyadh last January. The kingdom says it has large untapped reserves of metals \u2014 including copper, zinc, phosphate, and gold \u2014 and it plans to attract some USD 32 bn in investments in its mining and mineral sector and award more than a dozen mining exploration licenses to international investors, Saudi Mining Minister Bandar Al Khorayef said in November<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Ma\u2019aden inks agreement terms with Ivanhoe: Saudi Arabian state-owned mining company Ma\u2019aden has signed a conditional common shares subscription agreement with US mineral development company Ivanhoe Electric Inc. (IE) to acquire a 9.9% share of the company, according to a Tadawul filing. Completion of the agreement will also see Ma\u2019aden establish a JV with IE […]<\/p>\n","protected":false},"author":1,"featured_media":77434,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2016],"tags":[11,64,79,196,159,210],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-77433","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-enterpriseclimate","tag-evs","tag-ma-watch","tag-mining","tag-saudi-arabia","tag-usa","wpautop","entry"],"acf":{"mongo_id":"3a27dcd0-7191-4573-81d3-a4813962f4ed","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2020\/1\/627.jpg","photo_position":"above","related_issue":[77428],"teaser":"","voice_url":""},"yoast_head":"\nMa\u2019aden moves forward with buying stakes in US minerals firm Ivanhoe Electric - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/16\/maaden-moves-forward-with-buying-stakes-in-us-minerals-firm-ivanhoe-electric\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ma\u2019aden moves forward with buying stakes in US minerals firm Ivanhoe Electric\" \/>\n<meta property=\"og:description\" content=\"Ma\u2019aden inks agreement terms with Ivanhoe: Saudi Arabian state-owned mining company Ma\u2019aden has signed a conditional common shares subscription agreement with US mineral development company Ivanhoe Electric Inc. 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