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Court Dismisses Royalty Claim Against Lucara

Feb 7, 2014 12:10 PM   By Jeff Miller
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RAPAPORT... Lucara Diamond Corporation confirmed that Botswana's Court of Appeals today upheld the High Court's dismissal of a royalty claim against the mining company's subsidiary, African Diamonds Plc.

Lucara was taken to court in August 2011 by two former directors of African Diamonds, alleging that they were entitled to a 3 percent royalty on production from the Karowe (AK6) diamond mine. The High Court dismissed the claim in June 2011, the plaintiffs appealed and the Court of Appeals heard the case on January 21, 2014.

Tags: Botswana, Jeff Miller, Lucara Diamond, royalties
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