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/
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The Energy Information Administration expects production of all fossil fuels – crude oil, coal, dry natural gas, and natural gas plant liquids – to increase in 2022, but forecast fossil fuel production will remain lower than the 2019 peak.