Arc Minerals (AIM:ARCM), a copper exploration company focused on the Kalahari Copper Belt in Botswana and Zambia's Central African Copperbelt, reported its full-year results for the year ended 31 December 2025 on 26 June, marking a period defined more by corporate reorganisation than drill results.
The most consequential operational shift was the termination of its joint venture with Anglo American in October 2025, which returned full control of the Kabompo West Project in Zambia to Arc via its 67% interest in Unico Minerals Historic drilling at Kabompo West has returned intercepts including 39 metres grading 1.47% copper and a more recent Anglo-era hole of 40.60 metres at 0.61% copper from 22.25 metres.
At the Botswana Virgo Project, where Arc holds a 75% interest across more than 208 square kilometres within MMG's Zone 5 corridor, a 2024 drilling campaign confirmed copper mineralisation with a best intercept of three metres at 1.29% copper equivalent. A geophysical programme commenced in early 2026 across a contact zone of up to 15 kilometres, targeting drill priorities for the second half of 2026.
Post-period, Arc converted approximately £1 million of outstanding liabilities into equity and cut fixed annual management fees by 20% from 1 January, followed by a £3 million placing in April 2026 to fund exploration.
Outstanding Zambian legal disputes were resolved through a Settlement Agreement announced in May 2026, removing a material overhang on the project's development options.
