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
According to a recent release from Rystad Energy, global coal-fired power generation is on track to peak in 2023, as new sources of renewable and low-carbon energy expand rapidly.