ASX-listed Equatorial Resources has filed a $US1.1 billion ($1.6 billion) compensation claim against the Republic of Congo amid claims it was unlawfully stripped of iron ore mining rights in the nation where China exerts increased influence.
According to Equatorial Resources’ claim, the Congo government has until August to respond, subject to jurisdiction issues.
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Tom Richardson writes and comments on markets including equities, debt, crypto, software, banking, payments, and regulation. He worked in asset management at Bank of New York Mellon and is a member of the CFA Society of the UK as a holder of the Investment Management Certificate. Connect with Tom on Twitter. Email Tom at tom.richardson@afr.com
