Eastern Platinum's (Eastplats') South African subsidiary, Barplats Mines, received a joint summons from ABT Toda in connection with the current arbitration between Advanced Beneficiation Technologies (ABT) and Barplats.
ABT Toda filed the summons at the High Court of South Africa (North West Division).
Barplats is currently engaged in a confidential arbitration process with ABT to resolve a dispute over the termination of a project framework agreement for the development and construction of a modular plant to process PGMs from the Zandfontein tailings dam located at the Crocodile River Mine, called the Circuit H project.
The deal required numerous milestones to be met to complete and construct the Circuit H project, including a joint venture agreement between Barplats and ABT, finance agreements, and offtake agreements.
None of these agreements were signed before the agreement's cancellation.
ABT Toda is ABT's planned candidate to hold its shareholding in the joint venture, said Eastplats.
The firm will seek guidance and decide on the best course of action.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
