The legal tussle between billionaire businessman Dr Patrice Motsepe's companies and their former US and Tanzanian business partners over a US$195 million mining deal is set to continue in South African courts.
The battle between billionaire businessman Dr Patrice Motsepe’s African Rainbow Capital (ARC) and his former business partners, US-based company Pula Group, over a US$195 million (about R3.3 billion) mining deal appears far from being finalised.
On Friday, Pula Group and its Tanzanian subsidiary Pula Graphite Partners were granted leave to appeal Gauteng High Court, Johannesburg, Judge Leicester Adams’ April judgment in favour of ARC.
Judge Adams granted Pula Group and Pula Graphite Partners leave to appeal to the full court of the Gauteng division and indicated that he did not believe that the complexity of the legal issues raised in the matter is such that he should grant leave to appeal to the Supreme Court of Appeal.
Last month, Judge Adams ruled that if the Pula Group was able to prove a breach of the agreement and the damages arising from that breach, its contractual remedies are only against another of Motsepe’s companies, African Rainbow Minerals (ARM).
