Indiana Resources (ASX:IDA) announced that it has reached a comprehensive settlement with the United Republic of Tanzania, resolving all outstanding disputes under the settlement deed originally concluded on July 29, 2024.
The settlement follows previous updates, including the receipt of US$30 million from Tanzania in April 2025 and subsequent steps taken by Indiana to address breaches of the agreement.
Indiana, as majority shareholder in Ntaka Nickel and Nachingwea UK, and manager of the joint venture including Nachingwea Nickel, confirmed that the London International Court of Arbitration has issued a consent award recording the full and final resolution of the dispute.
Additionally, the International Centre for Settlement of Investment Disputes has discontinued the annulment proceedings, completing all actions in this forum.
The settlement fully resolves all disputes, with no taxes, penalties, or other financial obligations due by the Claimant group in Tanzania.
Indiana stated it will now return its focus to exploration of its gold assets in the Gawler Craton of South Australia.
At the time of reporting, Indiana Resources' share price was $0.039.