Ma'aden and Ivanhoe Electric form joint venture for Saudi mineral exploration

Ma'aden finalized an agreement on May 15, 2023 to purchase 9.9% of Ivanhoe Electric and form a 50/50 joint venture to explore 48,500 km² in Saudi Arabia for copper, nickel, gold, silver and other minerals. Ma'aden will invest US$126.5 million.

“Ma'aden has finalized its agreement with Ivanhoe Electric Inc. to purchase 9.9% shares in the company and form a 50/50 joint venture to conduct one of the largest exploration programs ever undertaken.”pif.gov.sa

• 1 source
• pif.gov.saPIF | Ma’aden finalizes deal to explore Saudi Arabia’s key mining resources | Public Investment FundPublic Investment Fund (PIFMay 15, 2023

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