AFRICAN Rainbow Minerals (ARM) said on Wednesday Tanzania’s High Court had struck out a $195m damages claim brought against the group and other companies linked to Patrice Motsepe.
ARM said the court handed down its judgment on October 9.
The company did not provide further detail on the ruling beyond saying the action had been struck out.
Pula alleged ARM and other parties had breached a confidentiality and non-compete agreement through an investment in Australia’s Evolution Energy Minerals, whose Chilalo graphite project is adjacent to Pula’s project in Tanzania.
ARM said it had always regarded the claim as “unfounded and fabricated”.
The diversified miner said it would take appropriate legal steps to protect its rights and interests and would keep shareholders informed of any material developments.