Operator
Good day, and thank you for standing by. Welcome to Deterra Royalties Investor Conference Call and webcast. [Operator Instructions]. Please be advised that today’s conference is being recorded.
I’d now like to hand the conference over to Mr. Jason Neal, Interim Chief Executive Officer and Managing Director. Please go ahead.
Jason Neal
Interim MD, CEO & Director
Thank you. Good morning, Australia, and good evening, North America. Welcome, everyone, especially to our shareholders and prospective new shareholders, to the special Deterra Royalties Investor Call and Webcast.
My name is Jason Neal, and I am the Interim Managing Director and CEO of Deterra, speaking to you from Toronto. Joining me on the call from our Perth office is Jason Clifton, our Chief Financial Officer.
As you would have seen from our ASX release, I am delighted to announce an agreement for Deterra to acquire a royalty over Ivanhoe Electric’s Santa Cruz Copper project in the U.S. State of Arizona. Santa Cruz is a large-scale, low-cost underground copper project with a long mine life located in a Tier 1 mining jurisdiction and being developed by an operator with a proven track record of delivering value. Ivanhoe Electric has done an outstanding job progressing this project, highlighted by the PFS update they announced only last week, which continues to project first production at Santa Cruz in 2029 and for Deterra, that will also mark first revenue on this royalty.
I am looking forward to taking you through this acquisition, which is one
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