Indiana Resources Limited (AU:IDA) has released an update.
Indiana Resources Limited has reached a settlement with the Government of Tanzania, agreeing on a payment of $90 million to resolve their long-standing dispute over the Ntaka Hill Nickel Project. The settlement represents 82.5% of the original amount awarded by the International Centre for Settlement of Investment Disputes and will be paid in three installments, with part of the first payment already received. The company plans to distribute the funds to shareholders and reinvest in its Central Gawler Craton Project in South Australia.
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