Arc Minerals Shares Fall on Lapse of Exclusivity Agreement With Anglo American
July 09 2021 - 2:49AM
Dow Jones News
By Anthony O. Goriainoff
Shares in Arc Minerals Ltd. fell Friday after the company said
that the July 2020 exclusivity agreement signed with Anglo American
PLC lapsed from today.
Shares at 0726 GMT were down 16% at 4.20 pence.
The Zambia-focused copper and cobalt mining company said
discussions between both companies continue and that they have been
very positive.
The London-listed company said that it has been approached by a
number of interested groups to start discussions regarding a
potential commercial transaction as the copper market is very
strong at present.
"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," Arc Minerals said.
Write to Anthony O. Goriainoff at
anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
July 09, 2021 03:42 ET (07:42 GMT)
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