ARC Minerals Ltd (ARCM.L) on Wednesday said it has signed a settlement agreement resolving all outstanding litigation in Zambia related to its exploration assets.
The company said that the agreement between Arc Minerals, Handa Resources Limited, Unico Minerals Limited and Kopara Investments Limited (together, Party A) and Zambia Mineral Exchange Corporation Limited, Lunda Resources Limited and Mumena Mushinge (together, Party B), terminates eight ongoing legal proceedings across multiple Zambian courts and tribunals, resolving all litigation affecting Arc in Zambia.
As part of the settlement, Party B has agreed to make a contingent settlement payment of $200,000 to Party A if a JORC-compliant measured mineral resource of at least 30 million tonnes at a 1.5% copper cut-off grade is defined on Lunda's Licence 41777-HQ-LEL by December 31, 2031.
The agreement also confirms that Handa retains ownership of exploration licence 19906-HQ-LEL, while Lunda retains ownership of licence 41777-HQ-LEL, which Arc described as immaterial to the group.
"This settlement allows us to focus entirely on advancing our exploration and development activities across Botswana and Zambia. Arc's Kabompo West project represents one of the largest exploration footprints in the Domes region of Zambia," commented Rémy Welschinger, CEO of Arc Minerals.
For comments and feedback contact: editorial@rttnews.com
Business News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.