The arbitration court found that 'the termination of the contract by Burkina was valid and justified in law,' spokesman Remi Dandjinon said in a statement.
A Paris court has dismissed a $2.2 billion claim against Burkina Faso lodged by firms in businessman Frank Timis's Pan African Minerals Group in a dispute over one of the world’s largest manganese mines, a government spokesman said on Thursday.
The arbitration court found that"the termination of the contract by Burkina was valid and justified in law," spokesman Remi Dandjinon said in a statement. "For the Burkinabe government, this is satisfactory because it allows us to regain control of the deposit."
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
This president is putting his money where is mouth is when it comes to an NHIThis country famously tried to make moms & tots pay up for healthcare. Find out what happened next & why it’s changing course in a big way. Bhekisisa_MG reports.
Read more »
This president is putting his money where his mouth is when it comes to an NHIWhere there's a political will, there's a way: Find out why free healthcare for moms and tots has a big pay off in this Bhekisisa_MG report.
Read more »
Days of Zondo: Tangled tale of resignations, coal mines and costly contractsAt the height of the Optimum Coal Mine heist, a Gupta-linked ministerial adviser under Mosebenzi Zwane, took it upon himself to get rid of DG, Dr Thibedi Ramontja.
Read more »
Zuma's application for stay of prosecution must be dismissed, NPA argues in court papersThe National Prosecuting Authority says former president Jacob Zuma's application for a stay of prosecution should be dismissed, as it believes that there is a strong case against him.
Read more »
Zim schools say mines took gems but failed to build promised classroomsPupils in Arda Transau, in the diamond-rich Marange area, have complained that mining companies that used to operate in the area failed to build classrooms as part of corporate social responsibility pledges
Read more »
Eskom tariff hikes could see struggling mines fold, says Minerals CouncilThe National Energy Regulator of South Africa has approved a tariff hike of 9.41% for this year.
Read more »
Solskjaer says Molde contract endedManchester United are unbeaten in the league since Ole Gunnar Solskjaer arrived in December.
Read more »
'Everyone wrote off Manchester United going to Paris‚' says Pirates coach SredojevicMilutin Sredojevic gave an impassioned rallying cry for why Orlando Pirates will beat Horoya AC in Conakry‚ Guinea on Saturday to reach the Caf Champions League quarterfinals.
Read more »
'Everyone wrote off Manchester United going to Paris‚' says Pirates coach SredojevicMilutin Sredojevic gave an impassioned rallying cry for why Orlando Pirates will beat Horoya AC in Conakry‚ Guinea on Saturday to reach the Caf Champions League quarterfinals.
Read more »