African Rainbow Minerals (ARM) is reportedly in preliminary discussions with Newmont Corporation to explore a potential copper mining venture in Papua New Guinea, according to Financial Times. The proposed collaboration aims to leverage ARM’s African mining expertise alongside Newmont’s global operational capabilities.
Sources cited by Bloomberg suggest that the venture could diversify ARM’s portfolio beyond Africa, tapping into one of the world’s significant copper reserves. Both companies are said to be evaluating geological surveys, regulatory requirements, and investment commitments before finalizing any deal.
Market analysts highlighted by Reuters noted that such a partnership could strengthen ARM’s international presence and provide exposure to rising copper demand driven by electric vehicle production and renewable energy infrastructure.
While details remain under negotiation, ARM executives reportedly confirmed to Business Day that the company is “actively exploring strategic opportunities abroad,” emphasizing a cautious approach pending government approvals and feasibility assessments.
