South32 closes strategic investment in Arizona Mining
Published by Louise Mulhall,
Editorial Assistant
World Coal,
South32 Limited has announced that its subscription for 45 000 000 common shares in Arizona Mining Inc. (TSX: AZ) (Arizona Mining) at C$2.45 per share for a total investment of C$110.3 million has closed.
South32 now owns approximately 15% of the shares in Arizona Mining on a non-diluted, post subscription basis.
The Placement proceeds will be used to advance the Hermosa Project, in particular the Taylor Deposit to the feasibility and permitting stage.
Read the article online at: https://www.worldcoal.com/mining/19052017/south32-closes-strategic-investment-in-arizona-mining/
You might also like
Peabody and Anglo American release updates on steelmaking coal acquisition
Peabody has notified Anglo American of a Material Adverse Change impacting its planned acquisition of steelmaking coal assets from the company, but Anglo is contesting this claim.