By Pinal Central
CASA GRANDE — Ivanhoe Electric has closed on a land purchase for its Santa Cruz Copper Project on the western edge of Casa Grande.
As copper is a very important commodity used in electric vehicles, construction and other needs, the company now has 5,975 acres in the area west and north of Francisco Grande Hotel & Golf Resort.
Taylor Melvin, Ivanhoe Electric’s president and chief executive officer, said Thursday, “We are excited to close our previously announced land acquisition at our Santa Cruz Copper Project in Arizona. Acquiring this land is a major milestone in the advancement of our Santa Cruz Project, where we already have agreements in place to control all the mineral rights associated with the acquired surface land. The land acquisition puts us in excellent position to finalize our initial economic assessment, which we expect to release in the third quarter of this year.”