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Weatherly International plc (“Weatherly”), the resource company with copper mining and smelting operations in Namibia, is pleased to announce a new joint venture with Ambase Prospecting Pty Ltd a subsidiary of Anglo American plc. The joint venture will explore Weatherly’s tenement, EPL 2906, in the Grootfontein District of the Otjosondjupa Region, North West Namibia, close to the Berg Aukus Zinc Mine.
Under the terms of the agreement Anglo American will conduct exploration activities on EPL 2906 and commits to a minimum expenditure of US$2.0 million over a period of three years, depending on exploration results and progress.
Commenting on this JV, Rod Webster, CEO, said:
“We are delighted to have entered into this Joint Venture with Anglo American to explore the Otjosondjupa region of NW Namibia. We believe that our regional knowledge and experience will complement and enhance the skills and resources of such a reputable multi-national as Anglo American in this partnership.”