Browsing: ARM

• 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 …

Patrice Thlopane Motsepe has entrepreneurship baked in his bones.

It seems the South African born mining magnate has natural instincts for enterprise.

Looking at his accomplishments in the mining industry and business world its not hard to imagine that he possesses the so called “animal spirits” that renowned British economist John Maynard Keynes said drives entrepreneurs and causes them to see opportunities for value where others cannot.

• Patrice Motsepe is a South African billionaire who has made a fortune estimated by Forbes to be in the region of US$ 2.6 billion.
• His fortune has come from investments in the mining industry through a company he founded in 1997 called African Rainbow Minerals Limited.
• African Rainbow Minerals is involved in the mining of gold, platinum, coal, ferrous and base metals.

According to Forbes, Motsepe’s personal fortune is estimated to be in the region of US$ 2.6 billion. Motsepe founded and …