Arc Minerals Limited Update - Exclusivity Agreement with Anglo American (6656E)
July 09 2021 - 1:00AM
UK Regulatory
TIDMARCM
RNS Number : 6656E
Arc Minerals Limited
09 July 2021
9 July 2021
Arc Minerals Ltd
('Arc' or the 'Company')
Update on Exclusivity Agreement with Anglo American
Arc Minerals announces that the Exclusivity Agreement with Anglo
American, signed on 13 July 2020, lapses from today. Discussions
with Anglo American have been positive and continue. Against a
backdrop of very strong copper fundamentals, the Company has been
approached by a number of interested groups to commence discussions
regarding a potential commercial transaction.
Nick von Schirnding stated: "As we have always said, any
transaction has to sufficiently compensate Arc shareholders for
allowing a major to take over an asset which we believe has
significant potential to become a major tier-one copper discovery.
We will continue our discussions with Anglo American which have
been going well but will also commence discussions with other major
mining companies that have approached us. In the meantime, we
continue with our very exciting drill programme and development of
the Cheyeza East plant, against the backdrop of a very strong
copper market."
For more information visit www.arcminerals.com .
Market Abuse Regulation (MAR) Disclosure
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of MAR.
**ENDS**
Contacts
Arc Minerals Ltd
Nick von Schirnding (Chairman) +44 (0) 20 7917 2942
SP Angel (Nominated Adviser
& Joint Broker)
Ewan Leggat / Adam Cowl +44 (0) 20 3470 0470
WH Ireland Limited (Joint Broker)
Harry Ansell / Katy Mitchell +44 (0) 20 7220 1666
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