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Ivanhoe Electric's subsidiary Mesa Cobre Holding Corporation entered into a purchase agreement with Global TBM Company (Robbins) for a tunnel boring machine valued at $64.7 million for the Santa Cruz Copper Project. Commissioning is targeted by July 30, 2027.
Global TBM Company, newly established by Lok Home, purchased substantially all the assets of The Robbins Company, a tunnel boring machine manufacturer. The company will operate as Robbins with Home as President and CEO.