Ivanhoe Electric has successfully completed its earn-in, securing a 60% interest in the Samapleu-Grata Nickel-Copper Project in Ivory Coast. This milestone was announced following the disclosure of a new preliminary economic assessment for the project by Sama Resources on March 21, 2024, in compliance with Canadian National Instrument 43-101 standards. The project is now a joint venture between Ivanhoe Electric, holding a 60% stake, and Sama Resources, with the remaining 40%.
Taylor Melvin, President and CEO of Ivanhoe Electric, expressed enthusiasm over achieving this significant stake in the project, highlighting the notable enhancements in both the potential future copper concentrate production’s quality and quantity. This progress reflects the concerted efforts of the team formed by the joint venture partners.
The partnership with Sama Resources, formalized in March 2021, allowed Ivanhoe Electric to fulfill the earn-in conditions by investing C$25 million (approximately USD$18.5 million) by March 2024. This collaboration marks a significant step towards developing the high-quality nickel-copper project, with Ivanhoe Electric also owning 22.7% of Sama Resources’ common shares. 
