Arc Minerals Limited Anglo JV Payment

RNS Number : 9103N

Arc Minerals Limited

28 November 2024

 

28 November 2024, 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')

Anglo JV Payment

 

Arc Minerals (LSE: ARCM) is pleased to announce that it has received further payment of USD 1 million under the Joint Venture with a subsidiary of Anglo American ("Anglo JV").

 

The commercial terms of the Anglo JV were set out in the Company's announcement of 12 May 2022. All payments under the agreement are receivable by Arc on behalf of its subsidiary Unico Minerals Ltd, with Arc retaining 67% of amounts received and the balance attributable to its fellow Unico shareholder.

The Directors of Arc are solely and entirely responsible for the content of this announcement. Neither Anglo American nor any other person, accepts responsibility for the adequacy or accuracy of this news release.

Unico Minerals Ltd is a 67%-owned subsidiary of Arc.

 

For further information contact:

Arc Minerals Ltd                                                              Nick von Schirnding (Executive Chairman)	c/o Benchmark Communications
Zeus (Nominated Adviser & Joint Broker) Katy Mitchell/Harry Ansell	Tel: [phone]
Shard Capital Partners LLP (Joint Broker) Damon Heath	Tel: [phone]

                                                  

For more information, visit www.arcminerals.com.

 

 

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