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Anglo starts exploratory drilling on copper licences in Zambia

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Anglo starts exploratory drilling on copper licences in Zambia

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13th November 2023

By: Marleny Arnoldi

Deputy Editor Online

     

Font size: - +



After forming a joint venture (JV) with a subsidiary of London-listed Arc
Minerals, global diversified miner Anglo American has started progressing
early-stage copper exploration at a number of licences in the Lyovu district of
Zambia’s North-Western province.

Under the terms of the $90-million deal, which recently completed following
satisfaction of the outstanding conditions, Anglo has a right to retain 70% of
the JV company subject to meeting certain exploration commitments and payments
to Arc, while the Arc subsidiary, Unico Minerals, will hold a 30% interest.



In turn, Arc holds 67% of the subsidiary.

Anglo discovery manager for Zambia Adriana Blesa says the company is pleased to
have finalised the JV with Arc that now allows it to advance exploration in
North-Western province, as the company looks 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 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, 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 is conducting mineral exploration
activities.

“From mineral discovery activity right through to marketing our future-enabling
products to customers, Anglo 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,” Blesa states. 

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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At TGOOD, we pride ourselves on our passionate team of professionals. As a world
leader in pre-fabricated outdoor electric substation buildings, we...

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Load & Haul
Sandvik Mining and Rock Solutions

Sandvik offers a wide range of loaders and trucks for underground hard rock
mining, all engineered for safety, productivity and reliability in the...

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AngloGold advancing decarbonisation in Tanzania, has begun renewables project in
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10th November 2023 By: Martin Creamer
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The Olympics, Phalaborwa, Harmony Gold make headlines
10th November 2023
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10th November 2023
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AngloGold reaffirms 2023 production guidance
9th November 2023 By: Martin Creamer


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Weir Minerals Africa

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Multotec

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Announcements

Clean water flows for Nongoma communities

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Exyn Technologies Appoints Industry Pioneer Brandon Torres Declet as Chief
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Melbourne gas mains ready for 100% renewable hydrogen 

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Invitation to the Mining Qualification Authority's 2023 Inaugural Mining Skills
Lekgotla

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Tshwane swing by? NSDV - Specialist Mining, Construction, and Environmental Law
Firm Expands Footprint in Gauteng

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What's On

Mines and Money Miami, 2024

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Resourcing Tomorrow

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The E in ESG for Mining - Environmental Compliance for Mining

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JMP 2023: 10th Mali Mining and Petroleum Conference & Exhibition

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EMCSA Thought Leadership Summit (EMCSA2023)

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