South32 (ASX:S32) moves one step closer in Hermosa Project

Company News

by Lauren Evans

South32 (ASX:S32) is one step closer to developing its Hermosa project in Arizona, USA after a pre-feasibility study.

The results from the study said it could be the start of a multi-decade operation, producing low-carbon metals.

The Taylor Deposit, the project’s first development option, will progress to a feasibility study designed to unlock additional value, extend resource life and further assess options to target a carbon neutral operation.

“Completing the pre-feasibility study for the Taylor Deposit is an important milestone that demonstrates its potential to be a globally-significant and sustainable producer of base and precious metals in the industry’s first cost quartile,” said chief executive officer Graham Kerr.

“We are designing the Taylor Deposit to be our first ‘next generation mine’, using automation and technology to minimise our impact on the environment and to target a carbon neutral operation in line with our goal of achieving net zero operational carbon emissions by 2050.”

Shares in South32 (ASX:S32) are trading 2.2 per cent lower at $4.09.

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