ARM will aquire 15% of Toronto-listed exploration company Surge Copper.

African Rainbow Minerals (ARM) is set to acquire 15% of Toronto-listed exploration company Surge Copper for C$3.8 million (US$2.8). The deal comes just a month after Surge Copper reported promising exploration results at its Berg property in Canada’s British Columbia, where results show significant deposits of copper in association with molybdenum, gold, and silver.

While not a particularly large investment for ARM, it gives it a solid foot in the door at one of the more exciting North American copper projects at a time when the outlook for copper is bullish.