Toronto-listed Ivanhoe Electric has unveiled a strategic exploration alliance with leading diversified miner BHP, focusing on copper and other critical minerals across select regions in the United States.
The alliance targets six mutually agreed areas covering 3,655 km2 in Arizona, New Mexico, and Utah, aiming to discover new sources of essential minerals crucial for the ongoing energy transition and electrification revolution.
Robert Friedland, Executive Chairperson of Ivanhoe Electric, emphasized the shared objective between BHP and Ivanhoe Electric in seeking critical minerals to meet rising demand. BHP will inject $15 million into exploration capital over the initial three-year period.
In addition to financial support, Ivanhoe Electric will provide access to its cutting-edge Typhoon geophysical survey system and the machine learning algorithmic software and data inversion services of its subsidiary, Computational Geosciences (CGI).
CEO Taylor Melvin expressed confidence in the alliance, citing Ivanhoe Electric’s disruptive exploration technologies and seasoned exploration team.
Melvin sees the partnership as a significant step forward, anticipating a fruitful collaboration with BHP.
Ivanhoe Electric’s Typhoon system is tailored to identify deep geophysical anomalies, particularly in environments with resistant surface conditions.
It aims to detect sulphide minerals containing copper, nickel, gold, and silver concealed beneath cover layers.
The company believes that the next wave of major mineral discoveries in the US will emerge from deep beneath the surface, where younger, unmineralized cover overlays older, prospective geology.
Ivanhoe Electric has already deployed Typhoon across multiple projects, including Santa Cruz, Tintic, Hog Heaven, and White Hill in states such as Arizona, Utah, Montana, and Nevada.
Additionally, it is being utilized in a joint venture with Saudi Arabian Mining Company Ma’aden in Saudi Arabia.
