South32 will acquire the remaining 83% stake in junior zinc miner Arizona Mining for $1.3 billion in cash, the company said on Monday June 18.
At an offer price of C$6.20 ($4.70) per share, South32 will pay a 50% premium over the Arizona Mining closing price on Friday June 15, it said. Arizona mining is the owner of the greenfield Hermosa project, which includes a zinc-lead-silver sulfide deposit with a reported resource of 96.1 million tonnes at...