Arc Minerals Shares Rise on Zambia Copper-Cobalt Project Joint-Venture Extension
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)
Copyright (c) 2023 Dow Jones & Company, Inc.-
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