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News Dear
Sumitomo Metal Mining Co., Ltd.
The appeal judgment of Solomon international bidding lawsuit
Sumitomo Metal Mining Co., Ltd. (Head Office: Minato-ku, Tokyo, President Yoshiaki Nakazato) Solomon Islands country exploration subsidiary of, SMM Solomon Limited (hereinafter referred to as "SMM Solomon Company"), as of 2014 10 years 24 date announcement, It had been appealed to the country's appellate court for losing verdict in the first trial of Solomon international bidding litigation.
Ruling in the appeal court on March 21, 2016 has been sentenced, SMM Solomon's appeal is granted in part, exploration rights granted to the appellant Akushomu KB (Axiom KB) Inc. has been canceled. However, for the cancellation disposal of rights acquired by the international tender that SMM Solomon company had asked the disabled, the disabled was not observed.
For the future, we plan to consider a corresponding review of the ruling.
(Contact for this matter)
Sumitomo Metal Mining Co., Ltd.
Public Relations IR part Hideki Motoki
For history, etc. of the litigation related to Solomon nickel exploration project international bidding
1. The Company, through the local exploration subsidiary SMM Solomon's Solomon Islands countries, participating in the international tender on Santa Isabel Island nickel deposit that has been published by the government on July 23, 2010, the same year on December 4, a bid target area (San George, Takata, Jejebo mining area, below, notice of a successful bid and (- site Letter of intent of the expiration date one year by the mining minister to the effect that to grant exploration rights contract acquisition as a condition of the landlord of the bid mining area of about) called "bid mining area", the receipt of the hereinafter referred to as the "LOI").
2. However, for January 2011 the successful bid and the LOI by the country's mining minister, a suitable reason description also is issued opportunity without any cancellation-like defense (However, cancellation form, to the first time SMM Solomon, Inc. is the same year March has been issued), in the same year on April 12, in the mining industry Council, an Australian exploration company of not participating in the international bidding together with the cancellation is ratified Akushomu (Axiom) a subsidiary of Akushomu KB (Axiom KB) company to, for Takata and San George mining area, along with the LOI is granted, for Takata mining exploration rights have been granted to three days later.
SMM Solomon Company, but was determined the corrective to the government, because the corresponding has not been made, it is suing the expiration date of the revocation proceedings, 2011 July 15, Akushomu KB who received the grant of the country's government and rights the company or the like as a partner, has filed a lawsuit seeking the cancellation or disposal in Solomon Islands Country High Court (High Court).
4. Together to apply for a temporary injunction prohibiting the Akushomu KB's exploration activities or the like, provisional disposition was observed first trial, also with the appeal court.
5. High Court, a preliminary hearing will focus on five of the issue by agreement of the parties, ruled to support the claim of SMM Solomon Company. Akushomu KB company appeal. November 2, 2012, Court of Appeals, to discard the High Court ruling, was remanded to the High Court.
6. High Court ruling that nearly support has been made a claim of Akushomu KB, Inc. on September 24, 2014.
7. SMM Solomon, Inc. on October 24, 2014 has appealed this as a complaint.
8. March 21, 2016 the appeal court ruling of our part favor sent down, was recognized legitimacy of our business activities. SMM Solomon's appeal is granted in part, exploration rights granted to the appellant Akushomu KB, Inc. was canceled. However, for the cancellation disposal of LOI acquired by international tender that SMM Solomon company had asked the invalid, it became a thing that can not be canceled by the legal interpretation of the issue of the court (3 mining area limit problem).
* 3 mining area limit problem
On the Solomon Islands countries Mining Act, 3 for the exploration rights application of the person who owns participating or more of exploration rights, but there is a provision that should not accept this, question of whether its provisions will be applied to the international tender. It should be noted, SMM Solomon Corp. this limited by the prior confirmation of the government and lawyers has been successful based on the view that does not apply and, appellate court denied this as a legal interpretation.
that's all
