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Kidman Resources settles ownership row over Australian mine

Mining News - Published on Wed, 12 Dec 2018

Image Source: goldendragoncapital.com
Reuters quoted Kidman Resources, a supplier of lithium to US electric car maker Tesla, as saying that it had settled a court dispute that could have derailed joint development of a mine in Western Australian with Chile's SQM. In a statement announcing the settlement, Kidman did not specify terms. Court documents show the settlement was reached with private company Phoenix Rise and Jeffrey Hull, a retired geologist. Phoenix Rise and Hull had separately flagged that not enough had been invested enough in the Mount Holland site under government regulations before Kidman acquired it, and applied for the tenement holdings to be forfeited to them.

Kidman Chief Executive Martin Donohoe said in a statement which described the settlement sum as not material "This settlement resolves this matter completely."

Phoenix Rise could not be reached for comment and Hull declined to comment. The settlement unlocks payments by SQM that had been on ice during the dispute, and paves the way for development to get back on track. Kidman signed a deal to supply Tesla in May for when its operations are up and running in 2021.

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Posted By : Nanda Koijam on Wed, 12 Dec 2018
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