Anglo American Advances Exploration Projects in Zambia Through Joint Venture Completion
Anglo American, the global mining company, has successfully concluded the formation of a joint venture with a subsidiary of Arc Minerals Ltd (“Arc”) and is now progressing early-stage copper exploration in Zambia’s North-Western Province.
Under the recently completed joint venture agreement, which received regulatory approvals, Anglo American has the right to retain 70% ownership of the joint venture company, contingent on fulfilling specific exploration commitments and payments to Arc.
Exploratory drilling has already commenced at one of the key joint venture licenses, signaling the company’s commitment to advancing exploration projects in the region.
Adriana Blesa, Anglo American Discovery Manager for Zambia, stated, “We are pleased to have finalized this joint venture with Arc to further our exploratory work in North-Western Province as we look to identify potential opportunities in copper and cobalt.”
Ms. Blesa emphasized the long-term nature of such projects, requiring significant capital investment and expertise to determine the economic viability of deposits for full-scale mining.
Despite the inherent uncertainty, Anglo American has already invested in a comprehensive community development program in Zambia, focusing on education, healthcare, access to water, and small business development.
In May 2023, Anglo American initiated a collaborative partnership with the global humanitarian organization World Vision, aiming to enhance access to education for 160 high school-aged girls in the Lyovu rural district in North-Western Province, near the area of Anglo American’s 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.
