{"id":78447,"date":"2023-07-13T01:00:47","date_gmt":"2023-07-13T01:00:47","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/07\/13\/the-maaden-ivanhoe-electric-jv-is-signed-sealed-delivered\/"},"modified":"2023-07-13T01:00:47","modified_gmt":"2023-07-13T01:00:47","slug":"the-maaden-ivanhoe-electric-jv-is-signed-sealed-delivered","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/07\/13\/the-maaden-ivanhoe-electric-jv-is-signed-sealed-delivered\/","title":{"rendered":"The Ma\u2019aden-Ivanhoe Electric JV is signed, sealed, delivered"},"content":{"rendered":"

<\/a> It\u2019s a done deal for Ma\u2019aden, Ivanhoe:<\/strong> Saudi state-owned mining company Ma\u2019aden and US mineral development company Ivanhoe Electric have finalized setting up an exploration JV in Saudi Arabia, according to a disclosure<\/a> sent to Tadawul yesterday. The JV will be known as Ma\u2019aden Ivanhoe Electric Exploration and Development Limited Company, according to a statement (pdf)<\/a> by Ivanhoe released last week.<\/p>\n

A refresher on the transactions: <\/strong>Under transactions announced<\/a>earlier this year<\/a>, Ma\u2019aden has poured in USD 127.1 mn in Ivanhoe Electric to snap up a 9.9% stake in the company, according to the statement. Some USD 66 mn of Ma\u2019aden\u2019s proceeds will be pumped by Ivanhoe Electric into the new JV to fund exploration activities and the procurement of three new-generation proprietary electrical geophysical surveying transmitter Typhoon machines.<\/p>\n

The Typhoon is coming: <\/strong>The Typhoon machines will be used to explore c. 48.5k km2 in the Arabian Shield, which the Saudi mining company has made exclusively available to the JV, according to the statement. One of the three machines is expected to arrive in Saudi Arabia next month, with surveying programs starting by September. A joint technical committee team will begin upon the arrival of the first Typhoon to survey geophysical anomalies that could indicate sulfide mineral deposits with copper, nickel, gold, and silver in the untapped area.<\/p>\n

ALSO- Ma\u2019aden now has representation on Ivanhoe\u2019s board: <\/strong>Sofia Bianchi (LinkedIn<\/a>) has been appointed as Ma\u2019aden\u2019s nominee to Ivanhoe Electric\u2019s BoD, bringing the number of board members to nine, according to the statement. She has wide expertise in finance, holding executive positions at PricewaterhouseCoopers and the European Bank for Reconstruction and Development. She is currently the CEO and founding partner of Switzerland\u2019s Atlante Capital Partners and is a non-executive director at Ma\u2019aden.<\/p>\n

REMEMBER- KSA is betting big on critical mineral exploration:<\/strong> The kingdom is looking to unlock an estimated USD 1.3 tn in mineral reserves<\/a> and aims to become a global hub for metals and minerals needed in the energy transition. It says it also has large untapped reserves of metals \u2014 including copper, zinc, phosphate, and gold \u2014 and it plans to attract<\/a> some USD 32 bn in investments in its mining and mineral sector and award more than a dozen mining exploration licenses to international investors.<\/p>\n","protected":false},"excerpt":{"rendered":"

It\u2019s a done deal for Ma\u2019aden, Ivanhoe: Saudi state-owned mining company Ma\u2019aden and US mineral development company Ivanhoe Electric have finalized setting up an exploration JV in Saudi Arabia, according to a disclosure sent to Tadawul yesterday. The JV will be known as Ma\u2019aden Ivanhoe Electric Exploration and Development Limited Company, according to a statement […]<\/p>\n","protected":false},"author":1,"featured_media":78448,"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":[107,11,1677,79,196,159,254],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-78447","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-critical-minerals","tag-enterpriseclimate","tag-ivanhoe-electric","tag-ma-watch","tag-mining","tag-saudi-arabia","tag-us","wpautop","entry"],"acf":{"mongo_id":"e4f64ffe-727b-42de-8900-79d496633270","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/5\/1904.jpg","photo_position":"above","related_issue":[78435],"teaser":"","voice_url":""},"yoast_head":"\nThe Ma\u2019aden-Ivanhoe Electric JV is signed, sealed, delivered - 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\/07\/13\/the-maaden-ivanhoe-electric-jv-is-signed-sealed-delivered\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Ma\u2019aden-Ivanhoe Electric JV is signed, sealed, delivered\" \/>\n<meta property=\"og:description\" content=\"It\u2019s a done deal for Ma\u2019aden, Ivanhoe: Saudi state-owned mining company Ma\u2019aden and US mineral development company Ivanhoe Electric have finalized setting up an exploration JV in Saudi Arabia, according to a disclosure sent to Tadawul yesterday. 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