Diamond Fields International Ltd. has amicably resolved arbitration proceedings initiated in 2011 against the government of Liberia, in which the company alleged that the government wrongfully terminated the company’s licence on the Henry Town gold project (see news release dated Feb. 9, 2011). The parties began working toward a settlement in April, 2014, but discussions were postponed indefinitely due to the 2014 Ebola outbreak. Recently, the parties resumed negotiations and reached an agreement in February, 2016, to dismiss the arbitration without prejudice to refiling and with each party bearing its own costs. A final order was entered at International Center for Settlement of Investment Disputes on March 11, 2016.
Diamond Fields believes that dismissing the arbitration will serve as a foundation for future, mutually beneficial opportunities in Liberia.
