Commencement of arbitration

Summary by AI BETAClose X

Kodal Minerals Plc has announced the commencement of arbitration proceedings initiated by Kodal Mining UK Limited (KMUK) seeking indemnification for a US$15 million payment made to the Government of Mali. Kodal Minerals disputes this claim, asserting that the payment, related to the transfer of the Bougouni Lithium Project mining licence and migration to the Malian 2023 Mining Code, is not a tax liability for which it is responsible under the Hainan funding transaction. Despite discussions, no resolution has been reached, and Kodal is considering potential counterclaims.

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