Arc Minerals Receives $1 Million Payment from Anglo American for Zambian JV
London-listed Arc Minerals has received a $1 million payment from Anglo American as part of their ongoing joint venture (JV) in Zambia.
The payment is directed to Arc’s subsidiary, Unico Minerals, with Arc retaining 67% of the total amount received, while the remaining balance goes to another Unico shareholder.
Earlier in November, Arc confirmed copper mineralisation at all drill targets on the jointly owned project, with priority targets now identified for further investigation.
The JV covers Arc’s Zambian copper project, which spans 870 km² in the country’s North Western province. Anglo American holds a 70% stake in the project, committed to investing up to $88.5 million, while Unico Minerals, 67% owned by Arc, holds the remaining 30%.
