Copper mining company has eyes on massive Casa Grande site
Apr 22, 2024, 4:15 AM
A mining exploration company could establish a copper mine south of metro Phoenix. (Phoenix Business Journal Photo/Jim Poulin)
(Phoenix Business Journal Photo/Jim Poulin)
A mining exploration company could establish a copper mine at a massive site south of metro Phoenix.
Ivanhoe Electric Inc. (NYSE-AMERICAN: IE) is exploring the potential for an underground mine called the Santa Cruz Copper Project located at an overall 6,000-acre site in the Casa Grande area.
Ivanhoe Electric acquired the site about a year ago for nearly $120 million from an entity connected to Harvard Investments, according to Pinal County documents and real estate database Vizzda.
The land includes 3,600-acre feet of associated water rights, infrastructure, access to rail, highways and electric transmission lines.
An initial assessment for the Sant Cruz project was completed in September 2023 that envisions a 5.9 million-tonne-per-year copper mining operation with a 20-year lifespan. Ivanhoe Electric said it’s also advancing environmental, technical and economic studies for the copper mining operations.
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