South32 completes $1.3bln deal to buy Arizona Mining

South32 Ltd has completed the acquisition of Arizona Mining, building further on the Perth, Australia-headquartered zinc portfolio at a time of relatively limited greenfield mine supply.

The $1.3 billion cash deal was announced in June, when South32 said it would buy out the remaining 83% stake in Arizona Mining that it did not already own.
The junior miner operates the Hermosa project near Tuscon, Arizona, which contains the high-grade base metals Taylor deposit, the Central zinc, manganese and silver oxide resource and an extensive land area with potential for discovery of polymetallic and copper mineralization.

South32...

Published

Andrea Hotter

August 13, 2018

13:50 GMT

New York