FOR IMMEDIATE RELEASE
NOVEMBER 11, 2023
Anglo American completes formation of joint venture and advances exploration projects in Zambia
LUSAKA, ZAMBIA – Global mining company Anglo American has confirmed it is progressing early-stage copper exploration at a number of licences in Zambia’s North-Western Province, following completion of the formation of its joint venture with a subsidiary of Arc Minerals Ltd (“Arc”).
Under the terms of the joint venture agreement, which recently completed following satisfaction of the outstanding conditions (including regulatory approvals), Anglo American has a right to retain 70% of the joint venture company subject to meeting certain exploration commitments and payments to Arc.
Exploratory drilling at one of the key joint venture licences has already commenced.
Adriana Blesa, Anglo American Discovery Manager for Zambia said: “We are pleased to have finalised this joint venture with Arc in order to further our exploratory work in North-Western Province as we look to identify potential opportunities in copper and cobalt. As with all mineral exploration projects, these are long-term commitments that require significant capital investment and expertise to ascertain whether there are deposits that are economically viable enough to progress to a phase of full-scale mining.”
Notwithstanding the inherent uncertainty of such a long-term project, as part of its commitment to responsible mining, Anglo American has already invested in a wide-ranging programme of community development projects in Zambia in education, healthcare, access to water and small business development.
In May 2023 Anglo American launched a collaborative partnership with global humanitarian organisation World Vision to help improve access to education for 160 high school-aged girls in the Lyovu rural district in North-Western Province, located near an area where Anglo American is conducting mineral exploration activities.
“From mineral discovery activity right through to marketing our future-enabling products to customers, Anglo American is committed to creating enduring value for society. Despite being in the early stages of exploration in Zambia, we believe in delivering a positive impact without delay. This is the right thing for local people, regardless of the outcome of our preliminary exploration on future mining activities,” added Ms Blesa.
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About Anglo American
Anglo American is a leading global mining company and our products are the essential ingredients in almost every aspect of modern life. Our portfolio of world-class competitive operations, with a broad range of future development options, provides many of the future-enabling metals and minerals for a cleaner, greener, more sustainable world and that meet the fast growing every day demands of billions of consumers. With our people at the heart of our business, we use innovative practices and the latest technologies to discover new resources and to mine, process, move and market our products to our customers – safely and sustainably.
As a responsible producer of diamonds (through De Beers), copper, platinum group metals, premium quality iron ore and metallurgical coal for steelmaking, and nickel – with crop nutrients in development – we are committed to being carbon neutral across our operations by 2040. More broadly, our Sustainable Mining Plan commits us to a series of stretching goals to ensure we work towards a healthy environment, creating thriving communities and building trust as a corporate leader. We work together with our business partners and diverse stakeholders to unlock enduring value from precious natural resources for the benefit of the communities and countries in which we operate, for society as a whole, and for our shareholders. Anglo American is re-imagining mining to improve people’s lives.
www.angloamerican.com
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