BUZZ-Australia's Equatorial Resources rises as Congo arbitration decision nears
Reuters
Nov 12
BUZZ-Australia's Equatorial Resources rises as Congo arbitration decision nears
** Shares of iron ore miner Equatorial Resources EQX.AX rise 2.5% to A$0.205, on track for strongest session since November 4
** Co says final hearing in its arbitration against the Republic of Congo was completed on Tuesday; adds tribunal will now render a decision in due course which could include a final award** As part of the arbitration, co's Mauritian unit, EEPL Holdings, is claiming damages ranging from $395 million to $1.25 billion against Congo** Unit claims Congo unlawfully expropriated its investments in two projects, in violation of a Congo-Mauritius investment treaty** Stock up 86.4% YTD
(Reporting by Jasmeen Ara Shaikh in Bengaluru)
((Jasmeenaraislam.shaikh@thomsonreuters.com))
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