<\/p>\n
A company linked to South African billionaire Patrice Motsepe said a Tanzanian court has struck out a long-running case brought by Pula Group LLC against him and affiliated firms, in which Pula sought $195 million (around R3.2 billion) in damages.<\/p>\n
The High Court made the ruling on 9 October, African Rainbow Minerals Ltd said in a statement Wednesday.<\/p>\n
Read: Pula\u2019s $195m Motsepe claim thrown out of Tanzanian court on a technicality \u2013 for now<\/p>\n
\u201cARM welcomes the judgment,\u201d it said. \u201cARM has always viewed the Pula claim to be unfounded and fabricated.\u201d<\/p>\n
Pula and its Tanzanian unit sued Motsepe and his associate firms \u2013 African Rainbow Minerals Ltd, African Rainbow Capital Investments Ltd\u00a0and ARCH Sustainable Resources GPCO Ltd \u2013 for allegedly breaching a non-compete contract when it invested in Australia\u2019s Evolution Energy Minerals Ltd, whose Chilalo project is located next to Pula\u2019s graphite project, according to court documents.<\/p>\n
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Read:\u00a0Motsepe companies \u2018seek protection\u2019 in SA from Tanzanian court<\/p>\n
Judge FM Mirindo first struck the case off the roll in an 7 August judgment because Pula didn\u2019t join Evolution companies he considered necessary parties.<\/p>\n
He didn\u2019t determine if the confidentiality contract was breached and didn\u2019t award any damages.<\/p>\n
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Pula subsequently filed a notice of appeal on 24 August, saying it \u201cwas dissatisfied with the decision of the High Court of the United Republic of Tanzania\u201d and that the group appealed \u201cagainst the whole of that decision\u201d.<\/p>\n
African Rainbow Minerals share price<\/p>\n
\u00a9 2026 Bloomberg<\/p>\n
#Tanzanian #court #strikes #R3.2bn #case #Motsepe<\/p>\n","protected":false},"excerpt":{"rendered":"
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