Indiana Resources achieved advancements in its dispute with the United Republic of Tanzania, as confirmed by a ruling from the International Centre for Settlement of Investment Disputes.

The ICSID ad hoc committee rejected two out of three annulment grounds raised by Tanzania, deeming them legally baseless.

The decision bars Tanzania from revisiting the arguments during the annulment hearing.

The outcome positions the company to solidify the US$120 million ($183.8 million) award granted in July 2023, with approximately US$1 million ($1.5 million) in monthly interest until payment.