Arc, Anglo agree on exploration services provision

By Romel S. Gurky

Australia-listed gold company Arc Exploration Limited said it had reached an agreement with Anglo American in Indonesia to provide geological evaluation and exploration services.

The company said in a press statement on Monday that the agreement would provide an opportunity for the Arc Exploration team to build a closer working relationship with Anglo American as well as offset Arc Exploration management and technical costs in Indonesia.

?We value our existing partnership with Anglo American and look forward to the possibility of broadening this elsewhere in Indonesia," Arc Exploration Managing Director, John Carlile, said.

He noted that the agreement stood as an endorsement of his company's technical skills and ability to work effectively in Indonesia, and that the significant cost savings to Arc Exploration would assist in preserving capital which can be applied to other opportunities as they arise.

Editing by Benget Besalicto Tnb.