The Perth-based company South32 has planned to advance its mining exploration not only in Australia, but in Peru as well.
Basically, the company has agreed to form a strategic alliance with AusQuest, which will be responsible for conducting the exploratory work, while it provides the funding for the projects involved. After they find and secure exploration opportunities, South32 will exclusively have the option to engage in joint ventures to progress work up to the drilling state.
South32 chief executive officer Graham Kerr said:
“We are looking forward to working with AusQuest on potential opportunities to generate low-cost entry points for early stage exploration, outside our existing portfolio.”
The mining exploration program will target copper, zinc, and nickel. As of this time, it has included five projects that are set ahead as potential opportunities. While three of these projects are located in Australia, the other two are set in Peru. Specifically, the Australian projects target nickel and copper, while the ones in Peru target only copper.
Aside from these countries, South32 is also operating multiple mining projects in South America and Southern Africa.