- Ivanhoe Electric today announced the closing of the transactions with Saudi Arabian Mining Company Ma'aden previously announced in Ivanhoe Electric's May 15, 2023 and January 11, 2023 news releases.
The company said that the joint venture will deploy the “disruptive power” of Typhoon™ to explore ~48,500 km2 of underexplored lands in the Arabian Shield that Ma'aden has made exclusively available to the Joint Venture. “With our proprietary and powerful Typhoon™ geophysical survey technology and the data analysis provided by our 94%-owned subsidiary, Computational Geosciences Inc., we aim to uncover new discoveries of critical metals in Saudi Arabia."
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