Ivanhoe Electric copper exploration Chile accelerates with SQM partnership

Ivanhoe Electric copper exploration Chile targets Atacama potential

Ivanhoe Electric copper exploration Chile entered a new phase through a strategic partnership with SQM.
The companies will explore copper across SQM concessions in northern Chile’s Atacama Desert.
Notably, the agreement covers approximately 2,000 square kilometers of highly prospective terrain.

Ivanhoe Electric will deploy its proprietary Typhoon geophysical surveying system across the concessions.
Meanwhile, Computational Geosciences Inc. will support the program using advanced data inversion software.
Together, these technologies aim to detect copper mineralization beneath challenging surface conditions.

The Atacama Desert contains extensive caliche cover, which complicates traditional geophysical surveys.
However, Ivanhoe Electric designed the Typhoon system to penetrate highly resistive caliche layers.
As a result, the technology can identify deep sulfide mineralization with greater accuracy.

Advanced geophysics unlocks copper beneath caliche

Ivanhoe Electric copper exploration Chile focuses on concessions already producing iodine and potassium nitrate.
Importantly, these assets sit along major porphyry copper and polymetallic manto belts.
Several world-class copper mines operate near the project area in northern Chile.

According to Ivanhoe Electric, Typhoon generates a strong and clean electrical signal.
This signal penetrates resistive sediments that block low-power transmitters.
Consequently, the system reveals geological targets hidden from conventional methods.

Ivanhoe Electric Executive Chairman Robert Friedland highlighted Chile’s copper legacy.
He emphasized rising global copper demand from electrification and energy transition trends.
Therefore, he expects future discoveries beneath unexplored caliche-covered regions.

Potential joint venture structure and funding terms

SQM will fund exploration with a $9 million commitment over three years.
Additionally, both companies will form a joint technical committee.
This committee will oversee work programs, budgets, and exploration priorities.

Ivanhoe Electric will operate Typhoon surveys during the exploration phase.
SQM will manage drilling programs within agreed target zones.
If exploration identifies over one million tonnes of copper potential, Ivanhoe gains a joint venture option.

To exercise this option, Ivanhoe must repay double SQM’s exploration expenditures.
After formation, the joint venture will follow proportional funding arrangements.
Furthermore, SQM may operate the project if it retains majority ownership.

SuperMetalPrice Commentary:

Ivanhoe Electric copper exploration Chile highlights a growing push to unlock hidden copper resources.
Advanced geophysics now reshapes exploration strategies across mature mining regions.
As copper demand accelerates, partnerships like this could redefine Chile’s next discovery cycle.