PhosCo Says ICC Terminates Arbitration Over Chaketma Phosphates; Shares Rise 11%

MT Newswires Live

2025/10/01

PhosCo (ASX:PHO) said the International Chamber of Commerce (ICC) has terminated the arbitration brought by Tunisian Mining Services (TMS) related to alleged breaches in their joint venture over the Chaketma phosphate project, according to a Wednesday filing with the Australian bourse.

The ICC said TMS has breached its rules for non-payment of AU$7.5 million in damages awarded in a 2017 ruling, the filing said.

The Chamber has also withdrawn the action against both the company and its unit Celamin, the filing added.

Shares of the company rose 11% in recent Wednesday trade.

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