Mining Billionaire Robert Friedland’s Ivanhoe Electric Seeks Dual Listing In New York, TorontoBillionaire Robert Friedland plans to
list his Ivanhoe Electric Inc. in New York and Toronto as the mining tycoon aims to bankroll the development of copper mines in the U.S. that will
supply raw materials needed to build batteries for electric cars as well as large-scale energy storage facilities.
The initial public offering of Ivanhoe Electric — which holds stakes in the Santa Cruz Copper Project in Arizona and the Tintic Copper-Gold Project in Utah — will be
managed by BMO Capital Markets and Jefferies.Led by Friedland as CEO, the company also owns VRB Energy, a developer of
large-scale energy storage systems that could power cities and industries. VRB has about 500 megawatt hours of energy generating capacity that have been installed or under development.
Developing copper mines in the U.S. is crucial as the price of the metal surges amid increasing demand from China, Europe and North America.
