trending Market Intelligence /marketintelligence/en/news-insights/trending/28nvn73e_zng9hyqroacxw2 content esgSubNav
In This List

South32 maintains Arizona Mining stake at 15%

Blog

Insight Weekly: US stock performance; banks' M&A risk; COVID-19 vaccine makers' earnings

Blog

Insight Weekly: LNG exports surge; investors unfazed by inflation; neobanks drive VC funding

Blog

Essential Metals Mining Insights November 2021

Blog

[Infographic]: 2021 World Exploration Trends


South32 maintains Arizona Mining stake at 15%

In a bid to maintain its 15% stake in Arizona Mining Inc., South32 Ltd. exercised the right to subscribe for an additional 836,279 common shares of the former at C$4.48 each for a total of C$3.7 million.

Together with 45 million shares acquired in May 2017, South32 agreed in September 2017 with a third party to buy up to an additional 15 million shares that will increase South32's stake to 19.9%.

The agreement allows South32 to acquire up to a 19.9% interest within an 18-month standstill period without the consent of Arizona Mining's board.