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South32 makes C$10 million investment in Aldebaran

Kitco Media
By Michael McCrae
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Updated
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(Kitco News) - Aldebaran Resources (TSX-V: ALDE) announced yesterday a C$10.3 million non-brokered private placement by a wholly-owned subsidiary of South32.

Funds will be used to advance Aldebaran’s Altar copper-gold project in San Juan, Argentina.

Upon the deal’s close, South32 will own 9.9% of Aldebaran.

Aldebaran is up 31% to 75 cents in the past five days.

South32 is a diversified miner that produces bauxite, alumina, aluminium, copper, silver, lead, zinc, nickel, metallurgical coal and manganese from operations in Australia, Southern Africa and South America. It has a market capitalization of $16.52 billion.

CORRECTION: South32 was mis-categorized as an iron ore miner. The mention has been removed.
Kitco Media

Michael McCrae

Michael McCrae is leading Kitco's coverage of the mining sector. McCrae, who has both an MBA and CMA, knows how to build digital media properties. He was co-founder and publisher of MINING.com, an award-winning news site. Before coming to media, McCrae worked in IT and banking. Please reach out: mmccrae@kitco.com or (514) 670-1383. You can also follow him at @michaelmccrae.

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