Australia's South32 to partner with Canadian metal explorer for Alaska project [Reuters]
SOUTH32 LTD SPNS/ADR (SOUHY)
NASDAQ:AMEX Investor Relations:
south32.net/docs/default-source/exchange-releases/notice-of-annual-general-meeting-2017-and-director-election.pdf?sfvrsn=b80badf_6
Company Research
Source: Reuters
Australia's South32 to partner with Canadian metal explorer for Alaska project Dec 20 (Reuters) - Australian miner South32 Ltd and Canadian base metal explorer Trilogy Metals Inc will become equal partners in a joint venture that will own and operate an Alaskan copper and base metal project, the two companies said on Friday. South32 said it has exercised its option to acquire a 50% stake in the joint venture company that will own Upper Kobuk Mineral Project located in the Ambler mining district in Alaska. The company said the move follows a successful exploration partnership with Trilogy and will help the Australian miner expand its portfolio in North America by adding high-quality copper and base metals development options. The joint venture will retain $87.5 million of the $145 million subscription payment to fund exploration plans. The rest will be loaned back to South32, which will be repaid in instalments.
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