Copper mining company has eyes on massive Casa Grande site

Apr 22, 2024, 4:15 AM

File photo of workers in a copper mine. A mining exploration company could establish a copper mine ...

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.

This story is posted in partnership with Phoenix Business Journal. Click to read the full story.

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Copper mining company has eyes on massive Casa Grande site