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Browsing: ARCH
- Graphite mining firm Pula Group sues South African billionaire Patrice Motsepe for $195M.
- Motsepe’s ARM mining faces breach of non-complete contract by investing in Australian firm Evolution Energy Minerals near Pula’s graphite project.
- ARM denies all claims, maintaining that they ‘considered’ but did not breach contract.
South African billionaire Patrice Motsepe is facing a $195 million lawsuit in Tanzania following allegations of a breach of contract by his mining companies in the East African country. The high profile case is being heard in Tanzania’s Commercial Court and is one of the biggest suits before the corridors of justice in recent years.
Patrice Motsepe owns a number of mining heavyweights including African Rainbow Minerals (ARM), African Rainbow Capital and ARCH Emerging Markets. He also has shares in Tanzanian mining company Pula Group.
In the roiling legal showdown, Pula Group is accusing billionaire Motsepe of breaching a 2021 non-compete contract by …