Panthera Resources PLC (AIM:PAT) today issued a new statement giving investors details about its ongoing dispute with the authorities in India.
It comes after the company’s subsidiary, in January, formally issued a notice of dispute to India in relation to the Bhukia project.
That document, under an investment treaty between the Government of Australia and the Government of the Republic of India, guides that the parties in the dispute must attempt to reach an amicable settlement.
The company told its investors that “efforts are ongoing to determine if any potential exists for such a settlement of the dispute”.
It also noted that if the efforts at settlement prove ineffective, the business will “promptly deliver a notice of arbitration to the Government of India”.
Panthera said it will provide its investors further updates as appropriate.