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Weatherly, Wadi Al Rawda And Burkina Faso Settle Dispute Over Tambao Project

Weatherly International plc. (WTI.L), Wadi Al Rawda Investments LLC and Burkina Faso announced that they have settled their dispute with respect to the Tambao manganese deposit in Burkina Faso.

Wadi entered into an agreement with Burkina Faso dated 3 April 2007 .

In June 2007, Wadi asked Weatherly to complete a feasibility study regarding the Tambao Project. Wadi submitted it to Burkina Faso in September 2008.

A dispute arose between Wadi and the State of Burkina Faso regarding the rights over the deposit, which was submitted in April 2011 for resolution to an arbitral tribunal constituted under the auspices of the International Court of Arbitration of the International Chamber of Commerce.

That dispute has now been settled and Wadi has agreed to discontinue the arbitration.

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