18th Dec 2019 13:22
(Alliance News) - African phosphate producer Kropz PLC said Wednesday the water licence tribunal for the licence granted to its Elandsfontein project in South Africa will resume in February next year.
The hearing began last Wednesday, and was expected to finish last Friday, but the tribunal has requested a continuation to February 6.
In June, Kropz said that a group of local residents opposed to the project had made an internal administrative appeal against the granting of the licence, which has been postponed by the request of the residents several times since.
Speaking Wednesday, Kropz said: "The company would like to advise the market that, in order to allow the tribunal the appropriate opportunity to fully review the matter, it will not be providing further comment on the official proceedings until the water tribunal has announced its decision. The timing of the decision is currently unknown."
The company also noted, pending the tribunal decision, there is "no legal impediment to the continuation of the water use activities" authorised by the licence.
Shares in Kropz were untraded in London on Wednesday but last closed at 7.00 pence each.
By Paul McGowan; [email protected]
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