REG - Arc Minerals Limited - Zambia Legal Update

ARC MineralsAnnouncement

15/08/2025 11:30

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RNS Number : 5398V  Arc Minerals Limited  15 August 2025

15 August 2025

 

Arc Minerals Ltd

('Arc Minerals', 'Arc', or the 'Company')

Zambia Legal Update

Arc Minerals is pleased to announce that a judge at the Zambian High Court in
Lusaka has concluded that the Consent Judgment obtained in March 2022 closed
the court record and that the Court has no jurisdiction to entertain further
applications. This adds strong support to the Company's defenses in the
various spurious and vexatious claims brought by a former director.

The Company is taking the necessary steps through separate court filings to
secure the full practical effect of the judge's conclusion. Further updates
will be provided as these matters progress.

Background

As part of the ongoing efforts from a former director of the Company and
Zambia Mineral Exchange Corporation Limited ("Zamex") to interfere in Arc's
affairs and the affairs of the Company's associates, which is prohibited under
the Zambian Settlement Agreement (as defined below), Zamex filed a writ of
fieri facias  ex parte (without Arc being represented), against Arc, its
joint venture company (Handa Resources Limited) and others in 2024 in the
Zambian High Court (the "Writ"). The Writ sought to recover up to US$650,000
in alleged damages from assets held in Zambia from the parties. This was
issued in connection with allegations of a default of the March 2022
Settlement Agreement (see announcement dated 18 February 2022 for details of
the Settlement Agreement) (the "Zambian Settlement Agreement"). The Zambian
Settlement Agreement was incorporated into a Consent Judgment at that time
(see announcement dated 16 March 2022), giving it the full force of law.

The Company's lawyers have advised that impropriety is evident in both the
documentation submitted in support of the Writ, as well as the process
followed, not least because there has been no default on the part of the
Company with respect to the Zambian Settlement Agreement. The Writ was
immediately subject to a court-ordered stay of execution, which is being
replaced by a new stay of execution that is already in effect. Whilst the Writ
is being challenged in the courts on the basis of these irregulatities, the
recent conclusion by the judge in the Zambian High Court supports the
Directors' full confidence that the Writ is and will be declared invalid.

Arc Minerals has no assets of substance in Zambia other than its 20% effective
indirect interest in Handa Resources Limited and the Directors confirm that
the Company's licences, joint venture interests and operations remain
unaffected.

 

The Directors of Arc are solely and entirely responsible for the content of
this announcement. Neither Anglo American nor any other person, accepts
responsibility for the adequacy or accuracy of this news release.

Forward-looking Statements

This news release contains forward-looking statements that are based on the
Company's current expectations and estimates. Forward-looking statements are
frequently characterised by words such as "plan", "expect", "project",
"intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other
similar words or statements that certain events or conditions "may" or "will"
occur. Such forward-looking statements involve known and unknown risks,
uncertainties and other factors that could cause actual events or results to
differ materially from estimated or anticipated events or results implied or
expressed in such forward-looking statements. Such factors include, among
others: the actual results of current exploration activities; conclusions of
economic evaluations; changes in project parameters as plans continue to be
refined; possible variations in ore grade or recovery rates; accidents, labour
disputes and other risks of the mining industry; delays in obtaining
governmental approvals or financing; and fluctuations in metal prices. There
may be other factors that cause actions, events or results not to be as
anticipated, estimated or intended. Any forward-looking statement speaks only
as of the date on which it is made and, except as may be required by
applicable securities laws, the Company disclaims any intent or obligation to
update any forward-looking statement, whether as a result of new information,
future events or results or otherwise. Forward-looking statements are not
guarantees of future performance and accordingly undue reliance should not be
put on such statements due to the inherent uncertainty therein.

**ENDS**

For further information, contact:

 Arc Minerals
 Ltd

                                                                                                                               info@arcminerals.com
 Nick von Schirnding (Executive Chairman)

 Zeus Capital Ltd (Nominated Adviser & Joint Broker)                                                                             Tel: +44 (0) 20 3829 5000

 Katy Mitchell/Harry Ansell

 Shard Capital Partners LLP (Joint Broker)                                                                                       Tel: +44 (0) 20 7186 9952

 Damon Heath

 

For more information, visit www.arcminerals.com (http://www.arcminerals.com) .

 

 

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