Viridis claims ‘world record’ in rare earth recovery at Colossus

The company was able to identify high-grade gold mineralization to at least 415 metres below the current resource estimate.

The copper-zinc project in Alaska is held under a joint venture partnership with Japan's Dowa Metals & Mining.

Ivanhoe Electric is part of a growing number of international mining companies investing in Saudi Arabia.

The project will produce lithium carbonate equivalent (LCE) for the battery market over a 23-year period.

Mansfield Consulting examined 14 potential critical mineral mines and two mine extensions, and found the long-term economic impact of operations over several decades could be nearly C$800 billion ($599bn).

The Opemiska project includes the former Springer and Perry copper-gold mines, operated by Falconbridge from 1953 to 1991.

Resources in both the indicated and inferred categories have increased by 48.7%.

The initial capex will be less than $350 million, assuming contract mining.

An environmental impact study will be filed for an exploration program to be completed on Block IV during the year.