Arc, Anglo American extend date for Zambia project JV
Africa-focussed base metals junior explorer Arc Minerals and diversified miner Anglo American have agreed to extend an exclusivity agreement in terms of which the latter wants to buy up to a 70% interest in a joint venture (JV) holding Arc’s copper interests in Zambia's North Western province, to March 31.
Arc has substantially progressed negotiations with Anglo, including the terms and conditions of a JV agreement and associated definitive agreements, with both parties currently closing out remaining due diligence, technical and structural issues, which are expected to be concluded in the next few weeks.
Arc’s Zambian licence areas are located about 900 km from Lusaka, in Mwinilunga, and within the trending arm of the major geological structure known as the Lufilian Arc on the western flank of the Kabompo Dome.
The Copperbelt is home to all the major copper mines in Zambia and these licences represent one of the last dome-related areas in Zambia yet to be explored in any detail.
The short extension of the exclusivity period will enable the parties to attain final internal approvals and sign the definitive JV agreement and ancillary documents.
Arc executive chairperson Nick von Schirnding says he is pleased with the progressive reforms being undertaken by Zambia President Hakainde Hichilema’s administration and the Ministry of Mines.
“I look forward to moving swiftly to signing all the final agreements and to updating shareholders shortly,” he says.
To date, Arc has carried out 22 000 m of drilling, collected and analysed 75 000 soil samples, and flown 5 700 line kilometres of airborne geophysical surveys over all the areas under licence.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
ZF Aftermarket is the after-sales division of the world-renowned German ZF group, a global leader in mobility technology.
VISIT SHOWROOM
Complete range of security sealing solutions including security seals bags and labels.
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
