Karelian Diamond Resources PLC (AIM:KDR), the exploration company, announced that the Finnish Land Court has upheld the original decision regarding a dispute with two farmers.
The dispute centred around the boundaries of the Lahtojoki diamond deposit in the Kuopio-Kaavi region of Finland and potential compensation for the two farmers.
This decision, which is subject to appeal within sixty days, confirmed that there will be no changes to the mine boundary.
The court also addressed compensation claims by two local landowners, rejecting most of their claims.
However, three specific items have been referred back to the National Land Survey for further review.
The appellants were ordered to contribute to the company’s legal costs.
The finalisation of the mine boundaries is an important step for Karelian Diamonds as it progresses toward developing what is expected to be the first diamond mine in the European Union.
Professor Richard Conroy, chairman of Karelian Diamond Resources PLC (AIM:KDR), said: "We are pleased to receive the decision of the Finnish Land Court which brings finalisation to the establishment of the mine boundaries.
“We will await the completion of proceedings in relation to the compensation to the two landowners concerned."