Arc Minerals Shares Rise on Zambia Copper-Cobalt Project Joint-Venture Extension
March 31 2023 - 5:19AM
Dow Jones News
By Anthony O. Goriainoff
Shares in Arc Minerals Ltd. rose Friday after the company said
that an extension has been agreed with its joint venture partner--a
subsidiary of Anglo American PLC--regarding its copper-cobalt
project in Zambia.
Shares at 0805 GMT were up 0.55 pence, or 16%, at 4 pence.
The London-listed mining group said that an extension of 13
business days to April 21 had been agreed so as to accommodate the
completion of certain outstanding steps. All substantive commercial
terms of the proposed joint venture remain unchanged, it added.
"I am very pleased with progress made to date and look forward
to updating shareholders in more depth soon," Executive Chairman
Nick von Schirnding said.
Write to Anthony O. Goriainoff at
anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
March 31, 2023 05:04 ET (09:04 GMT)
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