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ARM is conscious of the need to ensure continued growth beyond the ore bodies that currently comprise its portfolio, and is in the process of implementing changes and a strategic review of its exploration strategy. This will ensure that the ARM Explorationís strategy focuses on identifying, exploring for, evaluating and acquiring mineral resource projects that have the ability to outline and define sustainable mineral resource for mine development.
* ARM Exploration is involved in identifying and assessing exploration and mineral business opportunities in sub-Saharan Africa.
Chief Executive: Strategic Services and Exploration
ARM Exploration is a new division, and previously represented the Vale/ARM Joint Venture which was subsequently renamed ARM Copper.
ARM Exploration has established a large database of mining and exploration undertakings in Africa, focusing on platinum group metals, manganese ore, base metals and coal.
In July 2011 ARM signed an agreement with Rovuma Resources Limited (Rovuma), a British Virgin Island registered Mozambican exploration company. Rovuma has been exploring in Mozambique since 2007 and a number of occurrences of copper/zinc/silver/ gold, nickel/copper/ PGE, chromite/nickel and graphite mineralisation have been identified.
ARM agreed to continue with the second year of exploration (commencing April 2012) and to fund exploration at a cost of US$7 million per year. In terms of the agreement ARM has exclusive rights to exercise options to purchase prospecting and/ or mining rights to the resources.
In Zambia, ARM Exploration has undertaken reconnaissance exploration work on prospective areas for high grade manganese mineralisation. Numerous targets have been identified and discussions with the rights holders have commenced.