“Indiana Resources Demands $113.6 Million from Tanzanian Government After ICSID Verdict


Tanzania President Samia Suluhu

ASX-listed Indiana Resources has demanded $113.6 million in recompense from the Tanzanian government following a verdict by the International Centre for Settlement of Investment Disputes (ICSID), it is reported.

Indiana Resources logo

The ICSID closed arbitration proceedings and found that the Tanzanian government breached the UK-Tanzania Bilateral Investment Treaty by unlawfully expropriating the Ntaka Hill retention license, which is a joint venture project involving Indiana Resources. The tribunal unanimously ruled that compensation was due to the claimants for the expropriation. Indiana Resources is now seeking payment from Tanzania and expects the country to fulfill its obligations under the treaty.

Leave a Reply

Your email address will not be published. Required fields are marked *