LONDON – Arc Minerals Ltd (LSE: ARCM), a mining and exploration company, has announced that the High Court in Zambia has granted an interim injunction in favor of the company and its associated parties, including the joint venture with Anglo American (JO:), against interference in their Zambian operations.
The injunction, issued on Thursday, restrains Mumena Mushinge and Zambia Mineral Exchange Corporation Limited, collectively referred to as the Defendants, from interfering with Arc’s affairs, existing licenses, license applications, and any future licenses in Zambia until the inter-parties hearing anticipated before the end of Q3 2025.
This legal action follows Arc’s July 2024 proceedings against the Defendants for alleged breach of the Zambian Settlement Agreement and Consent Judgment, claiming damages and seeking to compel the Defendants to comply with the terms agreed upon.
Nick von Schirnding, Executive Chairman of Arc Minerals, stated that the injunction provides comprehensive protection of their interests in Zambia and is a significant step in safeguarding the company’s operations and shareholder interests against unwarranted interference.
The Directors of Arc have confirmed that there is no known connection between this injunction and another one announced previously on November 18, 2024. They also accept full responsibility for the content of this announcement, stating that neither Anglo American nor any other party is responsible for the adequacy or accuracy of the news release.
Arc Minerals has said it will provide further updates in due course and has not disclosed any additional information regarding the financial implications of the injunction or the ongoing legal proceedings. This announcement is based on a press release statement from Arc Minerals Ltd.
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