Ivanhoe Electric selects Railveyor as preferred haulage solution for new US copper project

Sudbury, ON – June 25, 2025 – Railveyor Technologies Global Inc. has been selected as the preferred haulage solution provider for Ivanhoe Electric’s Santa Cruz Copper Project in Arizona.

According to Tas Mohamed, CEO of Railveyor, this milestone marks a significant step forward in Railveyor’s mission to deliver sustainable, efficient and fully electrified material haulage solutions to the global mining industry. Ivanhoe Electric has included Railveyor in its highly engineered preliminary feasibility study (PFS), which was recently completed – describing a high-quality underground mining operation with strong economics.

“We are honored to be selected as the preferred haulage solution for Ivanhoe Electric’s flagship copper project,” said Mohamed. “This collaboration highlights Railveyor’s growing role in shaping the future of mining. Our team looks forward to supporting Ivanhoe Electric in delivering a world-class, low-impact mining operation at Santa Cruz.”

Ivanhoe Electric is a US-based company that combines advanced mineral exploration technologies with electric metals exploration projects that are predominantly located in the US. The company highlighted that the Santa Cruz project is supported by modern technologies to enable faster mine development and more efficient processing methods.

Railveyor’s fully electric haulage technology offers a breakthrough in mine design flexibility, scalability and sustainable performance – critical factors for projects like Santa Cruz that are committed to low-carbon development strategies.

Ivanhoe Electric has highlighted that the project’s base case utilizes 70% renewable energy. This will result in low scope 1 and 2 carbon dioxide equivalent (CO₂e) emissions of 0.49 tonnes of CO₂e per tonne of copper produced – compared to the industry average of 3.9 tonnes.

Studies on Railveyor’s performance in active mining operations demonstrated that the system reduced mine-wide emissions by up to 39%, when compared to diesel trucks. Railveyor also delivers on low operational costs, reducing operating expenditure by as much as 75% compared to truck haulage. The value delivered by the Railveyor technology supports the cash costs and low emissions projections of the Santa Cruz operation. According to Ivanhoe Electric’s Chief Executive Officer, Taylor Melvin, Santa Cruz will become an industry-leading example of responsibly produced copper in the US, and a source of high-quality jobs in Arizona during development and throughout its anticipated 20-year mine life.

Railveyor’s fully electric and truly autonomous technology delivers unmatched efficiency. The narrow gauge light rail system is propelled by low horsepower drive stations located along the haulage route. The company’s advanced software maximizes efficiency, streamlines operations and ensures a safe and controlled environment with zero emissions.

“We are proud to support Ivanhoe Electric in making fully electric mining a reality,” says Jerome Rodriguez, Executive Vice President of Sales & Marketing at Railveyor. “The Santa Cruz Project is a bold step toward a cleaner copper future, with Railveyor providing the energy-efficient haulage needed to help achieve that goal.”