Iron Ore|Mining|PROJECT|Projects|Resources
Iron Ore|Mining|PROJECT|Projects|Resources

Equatorial Resources makes $1.1bn claim against Congo

16th March 2023

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia


Font size: - +

PERTH ( – ASX-listed Equatorial Resources has launched a $1.1-billion compensation claim against the Republic of Congo, claiming that the government of that country had taken unlawful measures against the company.

Equatorial previously referred its investment dispute with Congo to arbitration at the International Center for Settlement of Investment Disputes (ICSID), in the US, claiming that unlawful measures had been taken against its Mauritanian subsidiary EEPL at two of its investment projects in Congo.

The company claims that its actions at its Badondo iron-ore project in 2020 included expropriation as part of a wider campaign by the government to dispossess foreign mining companies of their iron-ore interest in Congo in favour of granting them to a Chinese-linked company.

Equatorial also claimed that measures taken at its Mayoko-Moussondji project in 2021, saw the Congolese government unlawfully revoke the exploitation permit held over the tenements.

Equatorial said in a statement on Thursday that measures by the Congolese government violated multiple provisions in the Congo-Mauritius bilateral investment treaty, including the prohibition against unlawful expropriation and the fair and equitable treatment standard.

The Congolese government has until August to respond to the claims.

Equatorial has meanwhile told shareholders that the company is evaluating the merits of a litigation funding agreement, which would provide the company with non-recourse funding to cover the legal fees and other costs of the arbitration against Congo.

Edited by Creamer Media Reporter


Latest News

Magazine round up | 09 June 2023
Magazine round up | 09 June 2023
9th June 2023


Sandvik load image
Sandvik Mining and Rock Solutions

As a world-leading mining equipment manufacturer, we are committed to improving your productivity and profitability. Sandvik Mining and Rock...

AMS Haden Instrument & Mining Services (pty) Ltd
AMS Haden Instrument & Mining Services (pty) Ltd

At AMS Haden, we are a supplier of specialist instrumentation to numerous industries and markets for the specific tasks of monitoring, evaluating...


Latest Multimedia

sponsored by

Magazine round up | 09 June 2023
Magazine round up | 09 June 2023
9th June 2023

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?







sq:0.068 0.1s - 93pq - 2rq
Subscribe Now