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Arc Minerals takes control of Zamsort in 'game-changing' deal

Arc Minerals Ltd (LON:ARCM) CEO Nick von Schirnding discusses with Proactive's Andrew Scott their move to acquire an additional 35% of Zamsort Ltd - a company that controls the Kalaba copper-cobalt project in Zambia.

Combined with a convertible loan note for 5% more, it takes Arc’s total holding to 54%, and it could go higher if further purchases take place.

Quick facts: Arc Minerals Limited

Price: 2.544 GBX

AIM:ARCM
Market: AIM
Market Cap: £18.77 m
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Glencore mine shutdown could prompt a near-term price hike in Cobalt

Mining Capital's Alastair Ford says the closure of Glencore’s Mutanda mine in the DRC comes in response to the collapse in the cobalt price over the last year or so. ''The price went very high in 2017 and then came back down and now it's at the $15/lb level which is where it started its rise...

on 16/8/19

2 min read