08:11 AM EDT, 09/04/2025 (MT Newswires) -- Ivanhoe Electric ( IE ) said Thursday that its joint venture with Saudi Arabian Mining has received an additional 1,345 square kilometers of exploration licenses in Saudi Arabia.

The Musayna'ah licenses cover 946 square kilometers and show evidence of Iron Oxide-Copper-Gold type alteration and mineralization, the company said.

The Mahd Area licenses, located near Saudi Arabian Mining's Mahd Ad Dhahab gold mine, cover 399 square kilometers and consist of shallow gold mineralization with the potential for precious and base metal mineralization, Ivanhoe said.

Shares of Ivanhoe were up more than 3% in recent Thursday premarket activity.