South32 chief executive Graham Kerr says the company's move to take control of the Arizona Mining will give it one of the few "shovel-ready" projects in a global mining industry struggling to find ways to grow.
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The owners of Cannington Mine near McKinlay announced on Monday that it will spend $1.7 billion to buy the 83 per cent of Toronto-listed Arizona Mining that it doesn't already own.
South32 invested in Arizona in May 2017 and has been building its stake since.
Arizona Mining’s key asset is the Hermosa zinc, silver and lead project in the US state of Arizona.
Derek Barry
Editor of the North West Star Mount Isa since January 2016. Prior to that, an editor at several regional southern Queensland newspapers. Passionate about telling local stories. Comes with a strange accent to due an Irish accident of birth.
Editor of the North West Star Mount Isa since January 2016. Prior to that, an editor at several regional southern Queensland newspapers. Passionate about telling local stories. Comes with a strange accent to due an Irish accident of birth.
