Post by
JCistheOne on Mar 21, 2024 9:35pm
South32 next door is investing $2.16 BILLION !!!
https://south32hermosa.com/en_US/news-resources/news/south32-announces-historic-2-16-billion-investment-in-southern-arizona-hermosa-project
February 14, 2024
SOUTH32 ANNOUNCES HISTORIC $2.16 BILLION INVESTMENT IN SOUTHERN ARIZONA HERMOSA PROJECT
South32’s Hermosa project, currently the only advanced mining project in the United States capable of producing two federally designated critical minerals – zinc and manganese, today received Board approval of $2.16 billion in funding to develop the zinc-lead-silver deposit at its Southern Arizona project site.
South32’s announcement of the approval represents the largest private investment in Southern Arizona’s history, and the largest investment in the local Santa Cruz County economy to date by a factor of nearly nine times.
The first critical minerals mining project added to the United States’ FAST-41 permitting process, South32’s Hermosa project has the potential to be one of the world’s largest zinc producers. It aims to put Arizona in the driver’s seat of the clean energy race, supplying a critical mineral needed for the expansion of renewable energy and associated infrastructure.
Comment by
gameofbones on Mar 22, 2024 2:23pm
Yes, between now and 2027 they will spend that to make a mine. USD $2.16B. Had no effect on share price though. Mining ~645M Surface facilities ~820M Dewatering ~60M Direct costs ~1,525M Indirect costs (including contingency) ~635M Total ~2,160M