AXIOM MINING: VICTORY IN ISABEL NICKEL BATTLE Honiara, Sep 24...

AXIOM MINING: VICTORY IN ISABEL NICKEL BATTLE


Honiara, Sep 24
The Solomon Islands High Court has ruled in favour of Australian-based Axiom Mining over prospecting rights to the big Isabel nickel deposit, which has been tied up in a legal dispute with Japan’s Sumitomo Metal Mining.
Confirming the ruling, Axiom CEO says the company is now free to recommence exploration work at the site.
The Solomon Islands govt and Axiom opposed the claim brought by Sumitomo over its loss of the concession after Axiom was awarded 80% of the project after the govt cancelled the Sumitomo letter of intent, but has been prevented from carrying out any exploration since 2011 because of the court case.
Axiom Mining
Exchange Code:
ASX:AVQ
Website:
http://www.axiom-mining.com
Brisbane-based company with advanced exploration tenements in Solomon Islands, Vietnam and Australia
Sumitomo Metal Mining Co Ltd
Exchange Code:
TSE:5713
Website:
http://www.smm.co.jp
Widely diversified Japanese group with core businesses in worldwide mineral resources exploration, smelting & refining and materials