Ivanhoe Electric Inc. announced that Ivanhoe Electric has completed its earn-in to acquire a 60% interest in the Samapleu-Grata Nickel-Copper Project in the Ivory Coast. Ivanhoe Electric satisfied the terms of its 60% earn-in by spending CAD 25 million by March 2024. Highlights of the 2024 Preliminary Economic Assessment Announced by Sama Resources: The 2024 PEA outlines the potential for a conventional open pit mining operation supporting 86.5 million tonnes of modelled mill feed together with 1.62 million tonnes of direct shipped laterite material entirely from the Grata, Main and Extension deposits and the Sipilou Sud Laterite deposit.

Over the life of mine, the Samapleu- Grata Nickel-Copper Project would produce an annual average of 38,627 tonnes of a 26% copper concentrate and 55,119 tonnes of a 13% nickel concentrate through a process plant with a capacity of 5.475 million tonnes per year. This would be achieved through a conventional process that focusses entirely on flotation, for the production of separate copper and nickel concentrates together with cobalt, platinum, palladium and gold as by-products. Highlights from the 2024 PEA announced by Sama Resources include: Average annual production of approximately 38,627 tonnes of 26% copper concentrate and 55.119 tonnes of 13% nickel concentrate; Average annual nickel metal in concentrate of approximately 7,165 tonnes per year and copper metal in concentrate of approximately 10,043 tonnes per year; 16 year-life of mine; Pre-tax Net Present Value at an 8% discount rate of USD463 million and internal rate of return ("IRR") of 28.2%; Post-tax NPV8 of USD257 million and post-tax IRR of 22.3%; Initial capital costs of USD338 million including a contingency of USD61 million and Post-tax payback period of 3.8 years.

The 2024 PEA is based on a long-term nickel price of USD 8.83/lb and a long-term copper price of USD 3.99/lb. The 2024 PEA is preliminary in nature and includes inferred mineral resources, considered too speculative in nature to be categorized as mineral reserves. The Samapleu-Grata nickel-Copper Project is a potentially commercially profitable operating open-pit operation consisting of magmatic polymetallic sulfide mineralization with by-product metals, including copper, gold, cobalt, platinum, and palladium.