Indiana Resources Secures $90M Tanzania Settlement

Indiana Resources Limited (AU:IDA) has released an update.

Indiana Resources Limited recently settled a dispute with Tanzania, following the illegal expropriation of the Ntaka Hill Nickel Project, with a compensation agreement of US$90 million—a significant boost considering their last reported cash balance. The company has confirmed compliance with ASX Listing Rules, particularly after a prudent delay in announcing the settlement to ensure all conditions were met. This financial win comes after arbitration proceedings by the International Centre for Settlement of Investment Disputes.

For further insights into AU:IDA stock, check out TipRanks’ Stock Analysis page.