20 October 2025, 07:00 UTC
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (MAR) as in force in the United Kingdom pursuant to the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via Regulatory Information Service (RIS), this inside information will be in the public domain.
Arc Minerals Ltd
('Arc' or the 'Company')
CESSATION OF ANGLO AMERICAN / ARC JOINT VENTURE
Arc Minerals (LSE: ARCM), an exploration company focused on developing Tier 1 copper deposits, announces that the joint venture agreement in respect of the Zambian mining tenements between its subsidiary Unico Minerals Limited1 with a subsidiary of Anglo American plc ("Anglo American") has by mutual agreement been terminated and Anglo American has accordingly withdrawn from the joint venture and surrendered its interests, which were held through the joint venture company, Handa Resources Limited ("Handa"). This follows a protracted period of no drilling activity during 2025. It has been further agreed that circa US$800,000 will be left in Handa's bank account and Arc will resume control of that company, with Anglo American surrending its shares in Handa.
Nick von Schirnding, executive chairman of Arc said "While we are sorry to part company with Anglo American, I am pleased that we revert to a controlling position in what is widely regarded as one of the most prospective copper tenements in Africa with only a fraction having been drilled to date. We will explore our options for these assets which may include a new joint venture partner.
"We remain resolutely determined to complete the court processes underway in Zambia to deal with the improprieties carried out by an individual intent on holding the Company to ransom which we naturally will not countenance."
Given existing cash resources and the balance of cash being left in Handa, the Directors do not anticipate any requirement to undertake an equity raise in the foreseeable future to support existing operations.
Arc Minerals is solely and entirely responsible for the contents hereof. Neither Anglo American nor any other person, accepts responsibility for the adequacy or accuracy of this news release.
[1] Arc Minerals 66% shareholding, with the balance held by Kopara Investments Ltd
For further information contact:
| Arc Minerals Ltd Nick von Schirnding (Executive Chairman) |
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| Zeus Capital Ltd (Nominated Adviser & Joint Broker) Katy Mitchell/Harry Ansell |
Tel: +44 (0) 20 3829 5000 |
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| Shard Capital Partners LLP (Joint Broker) Damon Heath |
Tel: +44 (0) 20 7186 9952 |
For more information, visit www.arcminerals.com .
Forward-looking Statements
This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterised by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; possible variations in ore grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
**ENDS**
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