Completion of the transaction is expected in early calendar year 2022

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South32 provides Sierra Gorda transaction update. (Credit: Daniela Mackova from Pixabay)

South32 Limited (ASX, LSE, JSE: S32; ADR: SOUHY) (South32) advises that KGHM Polska Miedz (KGHM) has not exercised its pre-emptive rights to increase its shareholding in the Sierra Gorda copper mine in Chile (Sierra Gorda). On 14 October 2021 we announced we had entered into binding conditional agreements with Sumitomo Metal Mining and Sumitomo Corporation (collectively Sumitomo) to acquire a 45% interest in Sierra Gorda (the Transaction). Completion of the transaction is expected in early calendar year 2022 subject to the satisfaction of the remaining conditions.

Source: Company Press Release