UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No .   )

Ivanhoe Electric Inc.

(Name of Issuer)

Common Stock, par value $0.0001 per share

(Title of Class of Securities)

46578C108

(CUSIP Number)

Avner Bengera

Baker Botts L.L.P.

30 Rockefeller Plaza

New York, New York 10112

(212) 408-2500

(Name, Address and Telephone Number of Person

Authorized to Receive Notices and Communications)

July 6, 2023

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box ¨

Note. Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent.

*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes)

* Percentage is based on the Issuer’s Current Report on Form 8-K filed with the Securities Exchange Commission on July 6, 2023.

Item 1. Security and Issuer.

This statement relates to shares of common stock, par value $0.0001 per share (“Shares”), of Ivanhoe Electric Inc., a Delaware corporation (the “Issuer”).  The Issuer’s principal executive offices are located at 606 – 999 Canada Place, Vancouver, BC Canada.

Item 2. Identity and Background.

(a)            This Schedule 13D is being filed on behalf of Saudi Arabian Mining Company (Ma’aden) (the “Reporting Person”).

(b)            The Reporting Person’s business address is P.O. BOX 68861, Riyadh 11537, Kingdom of Saudi Arabia.

(c)            The principal business of the Reporting Person is mining.

(d)            During the last five years, neither the Reporting Person nor, to the knowledge of the Reporting Person, any of the persons listed in Annex A, has been convicted in any criminal proceeding (excluding traffic violations or similar misdemeanors).

(e)            During the last five years, neither the Reporting Person nor, to the knowledge of the Reporting Person, any of the persons listed in Annex A, has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction such that, as a result of such proceeding, such person was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activity subject to, federal or state securities laws or finding any violation with respect to such laws.

(f)             N/A.

Item 3. Source and Amount of Funds or Other Consideration

On July 6, 2023, the Reporting Person completed its acquisition of 10,269,604 Shares at a purchase price of $12.38 per Share (the “Investment”). The Reporting Person funded the Investment purchase price from its generally available funds. The description of the Subscription Agreement (as defined below), including the schedules thereto, in Item 4 of this Schedule 13D is hereby incorporated by reference.

Item 4. Purpose of Transaction.

The Investment was completed pursuant to the Common Stock Subscription Agreement, dated as of May 15, 2023, between the Issuer and the Reporting Person (the “Subscription Agreement”). The description of the Subscription Agreement, including the schedules thereto, that is set forth under Item 1.01 of the Issuer’s Current Report on Form 8-K filed with the Securities Exchange Commission on May 15, 2023 (“Signing Form 8-K”), and the full text of the Subscription Agreement, including the schedules thereto, filed as Exhibit 10.1 to Signing Form 8-K, are hereby incorporated by reference. The information that is set forth under Item 3.02 and Item 5.02 of the Issuer’s Current Report on Form 8-K filed with the Securities Exchange Commission on July 6, 2023 is hereby incorporated by reference.

Item 5. Interest in Securities of the Issuer.

Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.

The information set forth in Item 4 of this Schedule 13D is hereby incorporated by reference.

Item 7. Material to be Filed as Exhibits.

Annex A

Directors and Executive Officers of the Reporting Person and the Controlling Shareholder of the Reporting Person

Saudi Arabian Mining Company (Ma’aden)

The name, business address, present principal occupation and citizenship of each director and executive officer of the Reporting Person are set forth below. If no address is given, the business address of each person listed below is P.O. Box 68861, Riyadh 11537, Kingdom of Saudi Arabia.

The Public Investment Fund

By the reason of ownership of shares in the Reporting Person, the Public Investment Fund (the “PIF”) may be deemed to control the Reporting Person. The business address of the PIF is P.O. Box 6847, Riyadh 11452, Kingdom of Saudi Arabia. The PIF is the sovereign wealth fund of the Kingdom of Saudi Arabia.

The name, business address, present principal occupation and citizenship of each director and executive officer of the PIF are set forth below. If no address is given, the business address of each person listed below is P.O. BOX 6847, Riyadh 11452, Kingdom of Saudi Arabia.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date: July 16, 2023