In a significant push to expand Arizona's already thriving copper mining industry, Ivanhoe Electric Inc. is sizing up a substantial 6,000-acre plot near Casa Grande for a potential underground mining project known as the Santa Cruz Copper Project. The undertaking could meaningfully contribute to a state that already ranks within the globe's top ten copper-producing regions.
Details made available by ABC15 indicate that the site, purchased from Harvard Investments-connected entities for an impressive $120 million, boasts not only vast tracts of land but also key infrastructure and valuable water rights. To fully leverage the opportunity, Ivanhoe Electric aims to further the mining potential of the area, which is primely positioned with access to rail, highways, and electric transmission lines.
Arizona's distinction as a leading copper exporter—the commodity is one of the state's famed "five C's"—is further bolstered by the state's copper production, holding its own against the most productive copper mining countries. Additional insights provided by Business Journal underline Ivanhoe Electric's progress, with environmental, technical, and economic studies underway to advance the operation.
Ivanhoe Electric, with a visionary like billionaire founder Robert Friedland at its helm, has already made significant strides. The company recently relocated its headquarters from Vancouver to Arizona, a strategic move signaling commitment to its operations in the region. Now, they look to secure a major general plan amendment to convert roughly 2,900 acres from neighborhood to manufacturing and industry, a necessary step in realizing the full potential of the Santa Cruz Copper Project.
The Casa Grande planning commission has been set to take a closer look at the proposal in their April 18 meeting, with a crucial vote to follow on May 2nd. In a balancing act of industrial progress and environmental sensibility, Ivanhoe Electric has opted not to seek an amendment for an additional 400 acres of the site, recognized as a critical habitat for Western burrowing owls. This area is slated for a conservation easement, ensuring protection for local wildlife while the company forges ahead with its mining pursuits.
Adjacent landowners are also getting in on the act, with Wolff-Harvard Ventures LP requesting a similar amendment for an additional 600 acres. The synergy between these endeavors points to a burgeoning hub of industry poised to boost the local economy and further cement Arizona's role as a copper colossus on the world stage.
