LONDON – Arc Minerals Ltd (LSE:ARCM), a mining and exploration company, announced that the High Court of Zambia has granted an interim injunction in favor of the company and associated parties, including the joint venture with Anglo American (JO: ) against interference with their operations in… Zambia.
The injunction, issued on Thursday, prohibits 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-party hearing expected before then. End of the third quarter of 2025.
This legal action follows Arc’s actions in July 2024 against the defendants for alleged breach of the Zambian Settlement Agreement and Consent Judgment, seeking damages and seeking to compel the defendants to comply with the agreed terms.
Nick von Scherending, CEO of Arc Minerals, said the injunction provides comprehensive protection for their interests in Zambia and represents an important step in protecting the company’s operations and shareholders’ interests against unwarranted interference.
Arc Directors have confirmed that there is no known connection between this injunction and another previously announced on 18 November 2024. They also accept full responsibility for the content of this announcement, noting that neither Anglo American nor any other party is responsible for the adequacy or accuracy Press release.
Arc Minerals said it would provide further updates in due course and did not disclose any additional information regarding the financial implications of the injunction or the ongoing legal proceedings. This announcement is based on a press release issued by Arc Minerals Ltd.
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