A company linked to South African billionaire Patrice Motsepe said a Tanzanian court has struck out a long-running case brought by Pula Group LLC against him and affiliated firms, in which Pula sought $195 million (around R3.2 billion) in damages.
The High Court made the ruling on 9 October, African Rainbow Minerals Ltd said in a statement Wednesday.
“ARM welcomes the judgment,” it said. “ARM has always viewed the Pula claim to be unfounded and fabricated.”
Pula and its Tanzanian unit sued Motsepe and his associate firms – African Rainbow Minerals Ltd, African Rainbow Capital Investments Ltd and ARCH Sustainable Resources GPCO Ltd – for allegedly breaching a non-compete contract when it invested in Australia’s Evolution Energy Minerals Ltd, whose Chilalo project is located next to Pula’s graphite project, according to court documents.
Judge FM Mirindo first struck the case off the roll in an 7 August judgment because Pula didn’t
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