Skip to main content
The Markets by Proactive
Go to Proactive Australia

General mining & base metals

Bushveld updates on Lemur permit case

Bushveld Minerals (LON:BMN) shares went higher as it updated on legal proceedings on Lemur Resources' permit 4578 in Madagascar.

Bushveld has a controlling 57.21% interest in Lemur, which owns the Imaloto coal project in the country.

An appeal has been lodged with the court, against its decision last November to grant Lemur the 4578 permit.

The matter comes back to court in March this year, when the plaintiff will have to file submissions supporting the case.

Lemur's legal advisers say the appeal is ill-founded but there is no guarantee it won't be successful.

Bushveld shares rose 8.05% to 2.35p.