SHTLF - South32's $2.16B Mining Investment In Arizona Supports Biden's Clean Energy Vision | Benzinga
South32 Ltd (OTC:SHTLF), the Australian mining company, announced board approval of a $2.16 billion investment in its Hermosa project in Arizona. The Hermosa project is the only advanced mining endeavor in the U.S. capable of producing two federally designated critical minerals, zinc and manganese.
“Today's investment decision represents a major milestone for our business and aligns with our strategy to reshape our portfolio toward commodities critical to a low-carbon future,” said CEO Graham Kerr.
The Hermosa project, nestled in Santa Cruz County, can potentially become one of the world's largest zinc mines. The site has two main deposits: Taylor, rich in zinc, lead, and silver, and Clark, containing zinc, manganese, and silver.