# 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.

- Type: Investment
- Announced: 2023-01-11
- Where: Riyadh, Saudi Arabia, Saudi Arabia
- Value: $126.4M
- Status: announced
- Products: mineral exploration services
- Sectors: [Mining Equipment](https://endata.com/sectors/mining-equipment.md)

## Companies

- [Ivanhoe Electric](https://endata.com/companies/67815.md)
- [Ma'aden](https://endata.com/companies/4377.md) (investor)

## Sources

- [im-mining.com](https://im-mining.com/2023/01/11/saudi-mining-giant-maaden-invests-in-ivanhoe-electric-plus-forms-exploration-jv/), 2023-01-11: "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."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.