Indiana Resources (ASX:IDA) said that Nachingwea UK (NUKL), shareholder of claimant Ntaka Nickel Holdings, has completed repayment of an intercompany loan following receipt of $30 million settlement funds from the government of Tanzania, according to an April 11 filing by the Australian bourse.

The company has been working to negotiate the distribution of the settlement funds between the claimants and its shareholders NUKL and Loricatus Resource Investments, the filing said.

Indiana Resources said it will retain the settlement proceeds until the dispute is resolved, adding that its AU$52 million cash balance will support exploration at its South Australian project.