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Equatorial Resources Limited ( (AU:EQX) ) has provided an update.
Equatorial Resources Limited has completed the final hearing in its international arbitration case against the Republic of Congo at the ICSID in Washington, D.C. The dispute, initiated in 2021, involves claims of unlawful measures by Congo against Equatorial’s investments in two iron ore projects, with damages claimed ranging from US$395 million to US$1.25 billion. The tribunal’s decision is pending, with a potential final award expected in about 12 months. The tribunal has already ordered Congo to pay EEPL A$1.2 million for costs related to a previous hearing postponement.
More about Equatorial Resources Limited
Equatorial Resources Limited operates in the mining industry, focusing on the exploration and development of iron ore projects. The company’s primary market focus is on its investments in the Republic of Congo, specifically the Badondo Iron Ore Project and the Mayoko-Moussondji Iron Ore Project.
Average Trading Volume: 240,918
Technical Sentiment Signal: Buy
Current Market Cap: A$28.26M
See more insights into EQX stock on TipRanks’ Stock Analysis page.