Ivanhoe Electric completes earn-in to acquisition of Samapleu-Grata Nickel-Copper Project
Ivanhoe Electric Inc. has announced its completion of the earn-in to acquire a 60% interest in the Samapleu-Grata Nickel-Copper Project in the Ivory Coast. This represents a significant step forward for Ivanhoe Electric in advancing its presence in the nickel-copper mining sector, particularly in the Ivory Coast.
Ivanhoe Electric now holds a 60% interest in the Samapleu-Grata Nickel-Copper Project through its joint venture with Sama Resources Inc., with the remaining 40% owned by Sama. Additionally, Ivanhoe Electric also owns 22.7% of the common shares of Sama.
Samapleu-Grata Nickel-Copper Project
The firm satisfied the terms of its 60% earn-in by spending C$25 million by March 2024. The Samapleu-Grata Nickel-Copper Project is located in western Ivory Coast covering approximately 835 km2. According to Preliminary Economic Assessment (PEA), there is potential for a conventional open-pit mining operation supporting significant tonnages of mill feed. Over the life of the mine, the project is projected to produce copper and nickel concentrates, along with other by-products such as cobalt, platinum, palladium, and gold.
The PEA indicates competitive production volumes and quality, including a high-quality 26% copper concentrate. It highlights a relatively low total capital cost and favorable internal rate of return (IRR) compared to other pre-production nickel assets.
The PEA covers only approximately 3% of the total project area, leaving ample opportunities for exploration upside and expansion. The project’s economic viability is compared favorably against other pre-production nickel assets, indicating its potential profitability.
