Tanzania has reached an out-of-court settlement with Australian mining company Indiana Resources, agreeing to pay $90 million to end arbitration proceedings at the International Centre for Settlement of Investment Disputes (ICSID).
This potentially ends the long-running dispute, although the settlement amount is less than the $109 million award that ICSID had ordered Tanzania to pay Indiana in July 2023, after ruling that it had unlawfully expropriated the company's licence to conduct nickel mining operations in the country.
