At the heart of the case is the free entry mineral claim system that allows anyone to file a mineral claim without notifying or engaging with First Nations.
Concerned shareholders are accusing company CEO and the board of directors of enriching themselves with more than C$6 million for just seven months of service.
Ivanhoe Electric owns or holds stakes in nine electric metals developments across the US, including the Santa Cruz copper project in Arizona and its Tintic project in Utah.