Arc Minerals is pleased to announce the appointment of Mr. Mumena Mushinge as a non-executive director, effective immediately. As a highly respected figure in the mining industry, Mr. Mushinge is the founder of Zamsort Limited, a key player in Zambia's mining sector. His extensive experience spans several decades, having worked on a number of significant mining projects with both local and international mining companies.
Nick von Schirnding, Executive Chairman of Arc Minerals, commented:
“I am delighted to welcome Mumena to the board of Arc Minerals. His wealth of experience in Zambian mining and his insights into key projects will greatly benefit the company as we continue to focus on delivering value from our operations in Zambia. Mumena’s appointment also brings balance to our board, given our substantial exposure to Zambia."
Arc Minerals Ltd (‘Arc Minerals’ or the ‘Company’)
Board Appointment
Arc Minerals is a dynamic AIM listed exploration and mine development company focused on the discovery and development of large-scale copper and copper cobalt deposits in the Western part of the Zambian Copperbelt.
ARC Minerals current holdings include:
A 66% equity interest in Zamsort Limited ("Zamsort"), a private company focused on a prospective copper t licence in the Zambia Copperbelt, together with a convertible loan to Zamsort which converts into approximately a five percent additional equity interest in Zamsort.
A 72.5% equity interest in Zaco Investment Limited (“Zaco”), a private company focussed on a prospective copper and cobalt license adjacent to Zamsort.
Mr. Mushinge has been instrumental in advancing numerous projects across Zambia, particularly in copper and cobalt mining, which aligns perfectly with Arc Minerals’ strategic focus in the region. His deep knowledge of the local mining landscape and his vast expertise in project development and partnerships with international mining entities are seen as major assets to Arc Minerals as it seeks to expand its influence in the Zambian Copperbelt.
Mr. Mushinge expressed his enthusiasm about joining the board:
“I am thrilled to be joining the board of Arc Minerals at such an exciting time. I look forward to working with the team as we continue to execute on the company's strategy and unlock the potential of its Zambian assets."
At the time of this announcement, Mr. Mushinge holds a beneficial interest in 73,937,495 ordinary shares of Arc Minerals, representing approximately 11.69% of the company’s issued share capital. His deep involvement in the company underscores his confidence in Arc Minerals’ strategic direction and its potential to deliver substantial shareholder value.
Over the last five years, Mr. Mushinge has held directorships and partnerships in several companies, including Cupriferous Resources Ltd, Terra Metals Ltd, Luapuka Hydro Power Corporation Ltd, Zamsort Ltd, and Zaco Investments LLC. His leadership in these roles has been pivotal in advancing green mining initiatives and sustainable energy projects in Zambia and beyond.
Arc Minerals remains committed to strengthening its board with individuals who not only possess exceptional industry knowledge but also share the company’s values of sustainability, growth, and operational excellence.
Contacts
Arc Minerals Ltd
Nick von Schirnding (Chairman)
+44 (0) 20 3874 8664
SP Angel (Nominated Adviser & Broker)
Ewan Leggat / Lindsay Mair / Soltan Tagiev
+44 (0) 20 3470 0470
This information is sourced from Arc Minerals News.
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