JOHANNESBURG (miningweekly.com) – South Africa-focused Nkwe Platinum and Australian businessperson Tony Sage’s International Petroleum have settled their court proceedings, the platinum company reported on Friday.
International Petroleum filed a $45-million claim against Nkwe Platinum in January, alleging that the platinum company had failed to pay for the purchase of its 10% interest in the Tubatse project, on the eastern limb of the Bushveld Complex.
Nkwe had filed a counterclaim of $10-million.
However, Nkwe said that the companies had now settled on the basis that each party had agreed to its claim against the other being dismissed, with no order as to costs.
Edited by: Creamer Media Reporter
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