Ma'aden invests $126.4M in Ivanhoe Electric, forms exploration JV

Saudi Arabian Mining Company Ma'aden will invest $126.4 million in Ivanhoe Electric for a 9.9% stake and form a 50/50 exploration joint venture in Saudi Arabia. The agreement was signed on 11 January 2023 and is expected to close by end of Q1 2023.

“The agreement sets out the binding framework for a strategic investment of $126.4 million by Ma'aden into the common stock of Ivanhoe Electric, giving it a 9.9% shareholding; and the concurrent establishment of a 50/50 exploration joint venture in Saudi Arabia.”im-mining.com

• 1 source
• im-mining.comSaudi mining giant Ma'aden invests in Ivanhoe Electric plus forms exploration JV - International MiningPaul MooreJan 11, 2023

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