Indiana Resources (ASX:IDA), its majority-owned Ntaka Nickel Holdings (NNHL), Nachingwea UK, and NNHL's unit Nachingwea Nickel have reached a comprehensive settlement with the United Republic of Tanzania by consent to resolve all outstanding matters between them, according to a Monday Australian bourse filing.

As a result, the tribunal in the arbitration proceedings between the parties at the London International Court of Arbitration ("LCIA") has issued a consent award recording the full and final settlement of the dispute, the filing added.

The company has already received the amount of $90 million as a settlement from Tanzania, which fully and finally resolves all disputes between the parties, and no taxes, penalties, or other financial obligations are due by the claimant group in the United Republic of Tanzania, the filing added.

The company's shares rose 8% in recent Monday trade.