South32 invests C$110m in Canada-based explorer

Diversified miner South32 has taken a C$110.3-million share placement in TSX-listed Arizona Mining, which is hunting for zinc in the US. South32 will subscribe for 45-million shares in Arizona Mining, priced at C$2.45 a share, which Vancouver-based Arizona said on Tuesday represented around 15% of the company’s outstanding shares on a non-diluted basis.