Ivanhoe Electric Targets Construction in H1 2026, First Santa Cruz Cathode in 2028
Ivanhoe Electric completed its Preliminary Feasibility Study for the Santa Cruz Copper Project in June 2025 and plans to begin construction by mid-2026. The project is projected to produce its first copper cathode in 2028, enhancing its multi-metal portfolio and supporting U.S. supply chain independence.
1. PFS Completion and Construction Timeline
The Preliminary Feasibility Study for the Santa Cruz Copper Project was finalized in June 2025, outlining parameters for resource extraction, processing methods and economic feasibility. The study targets initial construction to start in the first half of 2026, with commissioning slated to deliver first copper cathode production by 2028.
2. Portfolio and Supply Chain Impact
Santa Cruz is a core asset in Ivanhoe Electric’s multi-metal mandate, which spans copper, nickel, cobalt, vanadium, platinum group elements, gold and silver. Cathode output from Santa Cruz is expected to strengthen domestic critical-minerals supply and advance U.S. objectives for secure, home-grown metal production.