After a big funding announcement, investor interest in Ivanhoe Electric Inc. (NYSE: IE) significantly increased. Shares of the mining exploration and development firm jumped 26.52% to $6.39 as of the most recent trading update.
The firm disclosed a Letter of Interest from the Export-Import Bank of the United States (EXIM Bank) outlining a possible debt financing package of up to $825 million, which sparked the stock rise.
Strategic Support for the Santa Cruz Copper Project
Ivanhoe Electric’s Santa Cruz Copper Project in Arizona would be developed with the help of the proposed funding, which is provided through EXIM Bank’s Make More in America campaign. The financing, which would have a 15-year payback term, is a significant step in boosting local production of vital minerals.
Located on private property and fully controlled by Ivanhoe Electric, the Santa Cruz project seeks to supply pure copper cathode, an essential part of developing technologies and national infrastructure.
Alignment with U.S. National Priorities
EXIM Bank’s interest in the Santa Cruz Copper Project is rooted in its alignment with U.S. economic and national security goals. The Make More in America initiative, alongside the bank’s China and Transformational Exports Program, is designed to revitalize domestic supply chains.
It will also reduce dependence on foreign sources for strategic materials as Copper plays a pivotal role in electricity transmission, electric vehicle production, and military applications, positioning the Santa Cruz project as a critical asset.
Next Steps and Broader Financing Strategy
Ivanhoe Electric is advancing toward final engineering and permitting with construction targeted for 2026. The company will collaborate with EXIM Bank to explore the full financing opportunity, which remains subject to due diligence and a formal loan application.
In parallel, Ivanhoe Electric is actively pursuing additional federal support mechanisms, including the EXIM Bank’s Supply Chain Resilience Initiative and the Section 45X advanced manufacturing tax credit—both of which are designed to enhance U.S. mineral independence and promote domestic processing capacity.
