Ivanhoe Electric gets $58.4 million cash boost from Colombia sale
Ivanhoe Electric Inc. [IE-TSX, NYSE American] has announced that its 59.6%-owned subsidiary Cordoba Minerals Corp. [CDB-TSXV, CDBMF-OTCQB], has revealed the timing and amount of its cash distribution to Cordoba shareholders.
On March 6, 2026, Cordoba said it had closed the sale of its remaining 50% interest in the advanced Alacran copper-gold project in Colombia for $128 million cash. Under the terms of the sale, net cash proceeds remaining after settling all outstanding liabilities and obligations, and retaining $10 million for ongoing corporate purposes, would be distributed to Cordoba shareholders.
Cordoba subsequently announced that the final cash amount per share to be distributed would be $1.01 per Cordoba common share to registered shareholders as of the close of business on March 20, 2026. The cash payment is expected to be made on or about March 25, 2026.
Ivanhoe currently owns 57.8 million shares of Cordoba, which entitles it to an approximate $58.4 million cash payment as part of Cordoba’s distribution.
Cordoba also holds a 51% interest in the Perseverance Copper project in Arizona, which it is exploring via joint venture and earn-in agreement.
Ivanhoe said the cash distribution from Cordoba will enhance its already strong liquidity position.
As of December 31, 2025, Ivanhoe Electric had $173.3 million in cash and cash equivalents. As of February 17, Ivanhoe Electric received $82.6 million in proceeds from the exercise of off the outstanding warrants associated with the company’s February 14, 2025 equity financing
On Friday, Ivanhoe shares eased down 1.00% or 13 cents to $12.82. The shares currently trade in a 52-week range of $20.34 and $8.76.
Ivanhoe Electric is headed by billionaire mining magnate Robert Friedland. His previous endeavours include nickel discoveries in the Voisey’s Bay area of Newfoundland and Labrador and more recently copper mining operations in Mongolia and the Democratic Republic of Congo (DRC). The DRC assets are held by Ivanhoe Mines Ltd. [IVN-TSX, IVPAF-OTC].
Friedland is Executive Chairman of Ivanhoe Electric, which is led by President and CEO Taylor Melvin.
The company has said it is aiming to develop mineral deposits in the U.S. in order to support American supply chain independence and to deliver critical metals needed for electrification of the economy.
Ivanhoe was in the news recently when it announced a definitive exploration alliance agreement with a subsidiary of BHP Billiton Ltd. [BHP-NYSE]. The aim is to explore areas of interest in the U.S. to identify projects that may become 50/50%-owned joint ventures.
The original six areas of interest are located in Arizona, New Mexico and Utah, covering 3,655 square kilometres. The alliance is for three years. During that time, BHP will provide initial funding of $15 million, with additional funding being provided on a 50/50 basis.
Ivanhoe Electric will, in turn, provide access to its Typhoon geophysical survey systems and CGI data inversions.