Ivanhoe Electric Acquires 60% Interest in Samapleu-Grata Nickel-Copper Project

Ivanhoe Electric Inc. has successfully completed its earn-in to acquire a 60% stake in the Samapleu-Grata Nickel-Copper Project in the Ivory Coast, according to a recent announcement. This significant development follows the disclosure of a new preliminary economic assessment (PEA) by Sama Resources, Ivanhoe Electric's joint venture partner, highlighting the project’s promising financial outlook and production potential.

The updated 2024 PEA reveals a pre-tax Net Present Value (NPV) of US$463 million and an Internal Rate of Return (IRR) of 28.2%, alongside projected initial capital costs of US$338 million. The project is expected to produce considerable annual yields of copper and nickel concentrate over an estimated mine life of 16 years, further benefiting from the production of associated by-products such as platinum, palladium, and cobalt.

Located approximately 600 km from the capital, Abidjan, and covering an area of 835 km², the Samapleu-Grata Nickel-Copper Project stands as a 60/40 joint venture between Ivanhoe Electric and Sama. According to Taylor Melvin, President and CEO of Ivanhoe Electric, the project aims for significant improvements in the quality and quantity of copper concentrate production compared to earlier assessments.

The potential for expansion and exploration within the project area remains vast, offering opportunities for further discovery and development in the mineral-rich region. Despite the promising projections, the company mentions that additional trenching or drilling will be required to upgrade inferred mineral resources to indicated or measured resources, underscoring the preliminary nature of the current economic assessment.