Africa-focussed base metals junior explorer Arc Minerals and diversified miner Anglo American have agreed to extend an exclusivity agreement in terms of which the latter wants to buy up to a 70% interest in a joint venture (JV) holding Arc’s copper interests in Zambia's North Western province, to March 31. Arc has substantially progressed negotiations with Anglo, including the terms and conditions of a JV agreement and associated definitive agreements, with both parties currently closing out remaining due diligence, technical and structural issues, which are expected to be concluded in the next few weeks.
