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LONDON - Arc Minerals Ltd (LSE:ARCM) announced on Tuesday that it has received approval for the renewal of two large-scale exploration licences in Zambia, according to a company press release.
The renewed licences include Large Scale Exploration Licence 23005-HQ-LEL held by Zaco Investments Limited and Large Scale Exploration Licence 28700-HQ-LEL held by Afrimin Resources Limited. Both companies are subsidiaries of Handa Resources Limited, which is a joint venture with a subsidiary of Anglo American (JO:AGLJ).
The company stated that the licence renewals are subject to payment of statutory area charges, which is currently in progress.
Arc Minerals describes itself as an exploration company focused on developing Tier 1 copper deposits. The company’s operations in Zambia are part of its ongoing exploration activities in the region.
The announcement was classified as inside information under the Market Abuse Regulations as in force in the United Kingdom (TADAWUL:4280).
No additional details were provided regarding exploration plans or timelines for the renewed licences.
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