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Equatorial Resources Limited ( (AU:EQX) ) has shared an announcement.
Equatorial Resources has completed the final hearing in its international arbitration case against the Republic of Congo at ICSID, with its Mauritian subsidiary EEPL now preparing post-hearing submissions and a costs claim as the dispute enters its final procedural phase. The company is seeking between US$395 million and US$1.25 billion in damages, plus substantial interest and costs, over what it alleges were unlawful expropriations and unfair treatment relating to its Badondo and Mayoko-Moussondji iron ore projects, while a prior procedural ruling has already ordered Congo to pay A$1.2 million in costs. Equatorial is simultaneously pursuing clarification from the Guinea government on reports that its Nimba iron ore permits were cancelled, underscoring ongoing sovereign risk across its portfolio, but it stresses its openness to a negotiated settlement with Congo, its continued commitment to the region’s iron ore potential, and its solid cash position of about A$8.1 million at year-end 2025.
More about Equatorial Resources Limited
Equatorial Resources Limited is an Australia-based iron ore company focused on developing large-scale projects in Central and West Africa, notably the Badondo and Mayoko-Moussondji iron ore projects in the Republic of Congo and the Nimba Alliance Iron Ore Project in Guinea. The company positions itself as an early mover in what it views as a potentially globally significant iron ore-producing region spanning the Congo craton and adjacent jurisdictions.
Average Trading Volume: 171,196
Technical Sentiment Signal: Sell
Current Market Cap: A$25.63M
See more data about EQX stock on TipRanks’ Stock Analysis page.