Emmerson PLC (AIM:EML), in its interim results, told investors it will "continue zealously" to pursue legal recourse in its dispute over the Khemisset Potash Project in Morocco.
During the reporting period, Emmerson submitted a request for arbitration to the International Centre for Settlement of Investment Disputes regarding Khemisset, alleging breaches by Morocco under a bilateral investment treaty with the United Kingdom.
The company is seeking full compensation for the loss of the project, last valued internally at US$2.2 billion.
Emmerson has secured up to US$11 million in litigation funding to cover legal costs and working capital during the proceedings.
At the end of June, the company had around $600,000 of cash..
“The Claimants will continue zealously to pursue their claims in this matter,” the company stated in its release.
The arbitral tribunal is expected to be constituted around October, Emmerson noted, with initial submissions likely in early 2026.