Ivanhoe Electric Inc.

Ivanhoe Electric Inc. received a Preliminary Project Letter from the Export-Import Bank of the U.S. for potential $1.1B debt financing for its Santa Cruz Copper Project in Arizona, up from an earlier $825M. Shares (T.IE) are trading at $15.78.

Ivanhoe Electric received a $1.1bn preliminary project letter from US EXIM for its Santa Cruz Copper Project, increasing financing from a previous $825m letter. The funding is subject to further review and approval, with a board decision expected in spring 2027. The project aims to produce high-purity copper cathode for 23 years.

Ivanhoe Electric (NYSE-A, TSX: IE) may receive a $1.1B loan from the U.S. Export-Import Bank for its Santa Cruz copper project in Arizona. The loan is a third larger than previously proposed. The project could become a major U.S. copper mine, with an estimated $1.24B initial cost and potential annual production of 72,000 tonnes. Shares gained 1% to $16.03 on Monday.

U.S. President Trump announced over $2B in financing commitments for critical minerals. The U.S. Department of War’s Office of Strategic Capital plans a $1.4B conditional loan to Sila Nanotechnologies to expand silicon-carbon anode and build lithium-ion cell manufacturing. It also plans $400M for Australia’s Sunrise Energy Metals (ASX:SRL) for a scandium value chain. Additional funding includes $150M for Niron Magnetics and $85M for Standard Bauxite.

National Bank Financial analysts revised precious-metals and copper forecasts ahead of Q2 earnings, citing realized gold at $4,508/oz and silver at $73/oz, and copper at $5.82/lb. They cut 2026 gold and silver assumptions and adjusted target prices for multiple miners, generally lower. TD Cowen upgraded First Quantum Minerals on a likely Cobre Panama restart by year-end.

First Phosphate Corp. (PHOS) may face reduced equity dilution after Noble Capital Markets noted potential lower funding needs for its Bégin-Lamarche project, supported by Swiss Export Risk Insurance (SERV) and other financing. SERV could provide up to US$212.5 million, reducing the equity requirement to about US$82.5 million. Noble maintains an Outperform rating and $25.50 price target.