# Ivanhoe Electric and Ma'aden sign definitive agreement for exploration joint venture

Ivanhoe Electric and Saudi Arabian Mining Company Ma'aden signed a definitive agreement to form a 50/50 exploration joint venture in Saudi Arabia. Ma'aden will also make a US$126.5 million strategic investment in Ivanhoe Electric common stock.

- Type: Partnership
- Announced: 2023-05-15
- Where: Kingdom of Saudi Arabia, Saudi Arabia
- Value: $126.5M
- Status: announced
- Products: minerals exploration services, Typhoon geophysical surveying system
- Sectors: [Mining Equipment](https://endata.com/sectors/mining-equipment.md)

## Companies

- [Ivanhoe Electric](https://endata.com/companies/67815.md) (partner)
- [Saudi Arabian Mining Company (Ma'aden)](https://endata.com/companies/70275.md) (partner)

## Sources

- [bourse.lavenir.net](https://bourse.lavenir.net/communiques/-US/ivanhoe-electric-and-maaden-sign-definitive-agreement-and-finalize-terms-for-exploration-joint-venture-and-strategic-investment-uRWhr5ktqym), 2023-05-15: "Ivanhoe Electric and Ma'aden Sign Definitive Agreement and Finalize Terms for Exploration Joint Venture and Strategic Investment Transaction Creates Groundbreaking 50/50 Exploration Joint Venture in the Kingdom of Saudi Arabia."

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