Ivanhoe Advances Santa Cruz Toward Construction
Two operations executives will take their posts Sept. 1 as Santa Cruz approaches its construction phase.
Ivanhoe Electric (IE), the mining company developing the Santa Cruz copper project in Arizona, advanced the project from engineering toward construction during the quarter.
The transition marked a shift from the June 2025 preliminary feasibility study, which had targeted initial construction for the first half of 2026. Ivanhoe's team was advancing Santa Cruz through an updated feasibility study and into construction.
The updated study is now targeted for September 2026. It will incorporate engineering and mine-access design tied to the tunnel-boring machine Ivanhoe identified for acquisition in May.
Ivanhoe also expanded its operating leadership ahead of construction, naming Michelle Lammers chief operating officer and Daniel Worthy senior vice president of operations and Santa Cruz general manager. Both appointments take effect Sept. 1, 2026.
Worthy will oversee construction, commissioning, ramp-up and operations at Santa Cruz, giving the project dedicated leadership as work moves beyond the study stage.
The company gave no updated target for completing project financing. Ivanhoe expected to complete Santa Cruz financing in mid-2026, while its August update focused on the revised feasibility study and the path into construction.
That left the September study update as the next stated milestone for a project whose engineering and operating organization were being positioned for construction.