Motsepe firms face $195m suit in Tanzania
US company alleges ARM and ARC spurned graphite joint venture to join forces with Australian rival at nearby deposit
03 November 2024 - 08:23
A US-based company with mining rights in Tanzania has lodged a $195m claim against Patrice Motsepe’s African Rainbow Minerals (ARM) and African Rainbow Capital (ARC), accusing them of breaching a confidentiality agreement regarding a proposed joint venture to develop a graphite mine in the east of the country.
Pula Graphite Partners, owned by former US ambassador to Tanzania Charles Stith, alleges that ARM and ARC violated a non-competition agreement and gained access to confidential, market-sensitive information during discussions about the project in Tanzania’s Ruangwa district...
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