PERTH (miningweekly.com) – The Supreme Court of Western Australia has granted ASX-listed Pilbara Minerals' request for a stay order on court proceedings started by fellow-listed Mineral Resources (MinRes).
MinRes earlier this month served Pilbara Minerals with a writ of summons to the Supreme Court, relating to a dispute over the validity of Pilbara Minerals' sales notice over lithium from the Pilgangoora project, in Western Australia.
Pilbara Minerals previously issued MinRes a notice of dispute over the sale of the lithium product, with the companies now obligated to call in an independent expert to assist in determining a suitable outcome to the issue.
Pilbara Minerals on Tuesday said that with the stay order granted, the dispute between the two parties would be heard and resolved before an independent expert, who had already been appointed.
Both parties are in the process of providing their written submissions to the expert, and Pilbara Minerals is hopeful that a final and binding determination will be made by Monday.
Should the independent expert determine that Pilbara Minerals' sales notice is valid, MinRes will have until the end of October to elect to purchase Pilbara Minerals' product on no less favourable terms than those offered by General Lithium, or to take a 2.5% royalty.
Edited by: Creamer Media Reporter
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