JOHANNESBURG (miningweekly.com) – Dual-listed Eastern Platinum (Eastplats) is seeking to have a notice of civil claim filed against it by China-based precious metals mining services provider Hebei Zhongheng Tianda Platinum (HZT) dismissed with costs.
The group said in an update to shareholders on Tuesday that its response for dismissal with costs against HZT has now been filed.
In December, HZT hit Eastplats and several of its subsidiaries with the notice of civil claim in the British Columbia Supreme Court over an alleged repudiation and breach of a share purchase agreement entered into between Eastplats’ former management and HZT in June last year.
Eastplats, following the election of a new board in July 2016, had embarked on several reviews of agreements and transactions made by the former board of directors, including that of the proposed sale of Eastplats’ South Africa subsidiary Barplats Mines and associated intercorporate investments and loans to HZT for $50-million.