Pathfinder holds new discussions on Mozambique ownership dispute

Pathfinder Minerals said it had held discussions in Mozambique with General Jacinto Veloso as it attempts to recover control of mining licences it claims were lawfully taken away.

The company is still awaiting recognition from Mozambique courts of a ruling in 2012 by the English High Court that it had validly acquired its shares in the licence-holding subsidiary.

Pathfinder said it had held multiple meetings with General Veloso and his representatives, with the most recent exchange taking place in January.

While there have been twists and turns, we are optimistic that, subject to the fulfilment of certain criteria, a negotiated settlement is achievable,’ chief executive Nick Trew said.

‘We should be mindful nonetheless that, absent a negotiated settlement, the company believes the declaratory judgment from the English High Court in its favour will eventually be recognised in Mozambique.’

Source: Shares Magazine

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