PULA Group has appealed a Tanzanian court ruling that struck its $195m damages claim against billionaire Patrice Motsepe and companies linked to him off the roll, Bloomberg reported.
Pula and its Tanzanian unit sued Motsepe, African Rainbow Minerals (ARM), African Rainbow Capital Investments and ARCH Sustainable Resources, alleging they breached a confidentiality and non-compete agreement by investing in Australia’s Evolution Energy Minerals.
Evolution’s Chilalo graphite project is next to Pula’s own graphite project in Tanzania.
Judge FM Mirindo struck the case off the roll on August 7 because Pula had not joined Evolution companies that he considered necessary parties. The judge did not rule on whether the agreement had been breached or award damages.
Pula chairman Charles Stith, a former US ambassador to Tanzania, told Bloomberg the company filed its appeal on August 24. He said Pula could also refile the case.
African Rainbow Capital said it was aware of the appeal but that it was too early to comment because the notice did not set out Pula’s grounds. ARM said it respected both the court’s ruling and Pula’s right to appeal.
Stith said Pula’s damages claim could ultimately exceed $195m after an Evolution investor document valued the company at $340m.
