Kazera awarded $11.9m in Aftan arbitration
Aim-listed Kazera Global has received a comprehensive and favourable ruling in binding arbitration proceedings against Namibian company Hebei Xinjian Construction, with a total award of about $11.9-million plus costs. The binding arbitration proceedings, held in Windhoek, Namibia, and governed by the dispute resolution provisions of a December 2022 sale agreement, concluded that Hebei had breached its contractual obligations by failing to make full and timely payment to Kazera for the acquisition of Kazera’s interest in African Tantalum (Aftan), Kazera reports.
Aim-listed Kazera Global has received a comprehensive and favourable ruling in binding arbitration proceedings against Namibian company Hebei Xinjian Construction, with a total award of about $11.9-million plus costs. The binding arbitration proceedings, held in Windhoek, Namibia, and governed by the dispute resolution provisions of a December 2022 sale agreement, concluded that Hebei had breached its contractual obligations by failing to make full and timely payment to Kazera for the acquisition of Kazera’s interest in African Tantalum (Aftan), Kazera reports.
