SHAFT Sinkers, once a leading provider of shaft-sinking services to the mining industry, has reached an "amicable" settlement with EuroChem, which was pursuing the company for $917m in a dispute relating to a Russian potash mine.Citing conditions in the agreement, Shaft Sinkers acting CEO and chairman Marius Heyns said on Wednesday he could not offer any additional comment to a statement from EuroChem on the resolution."EuroChem, Shaft Sinkers, Rossal No126 and International Mineral Resources announce that they have amicably resolved all matters relating to their dispute involving EuroChem’s potash mining project in Russia, and all litigation and arbitration associated therewith has been dismissed or withdrawn," EuroChem said on Monday.The arbitration, which cost Shaft Sinkers more than £10m and nearly destroyed the company, was one of the major factors that led to its South African division being put into business rescue and the termination of its listing in London.Impala Platinum ...
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