Anglo JV Payment
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Arc Minerals (LSE: ARCM) is pleased to announce that it has received further payment of USD 1 million under the Joint Venture with a subsidiary of Anglo American ("Anglo JV").
The commercial terms of the Anglo JV were set out in the Company's announcement of 12 May 2022. All payments under the agreement are receivable by Arc on behalf of its subsidiary Unico Minerals Ltd, with Arc retaining 67% of amounts received and the balance attributable to its fellow Unico shareholder.
Unico Minerals Ltd is a 67%-owned subsidiary of Arc.
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