South32-ceo-graham-kerr.jpg” />

South32 has signed an agreement to increase its stake in Arizona Mining to up to 19.9% through the acquisition of an additional 15 million shares. 

In May, South32 acquired 45 million common shares, equivalent to around 15% of Arizona Mining under a private placement and investor rights agreement. 

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

According to the company, a third-party financial institution is expected to purchase shares in the market over the next 12 months. 

South32 CEO Graham Kerr said: "Our continued support of Arizona Mining is aligned with our strategy to invest in high-quality mining projects where we can add value.

"This incremental investment increases our interest in the highly prospective Hermosa project and demonstrates our commitment to work with Arizona Mining to unlock its full potential."

"This incremental investment increases our interest in the highly prospective Hermosa project and demonstrates our commitment to work with Arizona Mining to unlock its full potential."

See Also:

Located in Arizona, the Hermosa project comprises the Taylor zinc-lead-silver sulfide deposit and the Central silver-manganese-zinc manto oxide deposit. 

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Based on results of the preliminary economic assessment in April, the Taylor deposit has measured mineral resource of 8.6Mt, grading 4.2% zinc, 4% lead and 1.6 opt silver, in addition to an indicated mineral resource of 63.8Mt, grading 4.5% zinc, 4.4% lead and 1.9 opt silver.

With a net present value (NPV) of $1.26bn and internal rate of return (IRR) of 42%, the 10,000tpd project has inferred mineral resources of 38.6Mt, grading 4.4% zinc, 4.2% lead and 3.1 opt silver.

First production from the project is scheduled in 2020.

Image: South32 CEO Graham Kerr. Photo: © South32.