11th Dec 2019 11:47
(Alliance News) - African phosphate producer Kropz PLC said Wednesday it will be no longer commenting on the appeal hearing against the integrated water use licence granted to its Elandsfontein project in South Africa.
The hearing is set to begin on Wednesday.
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 Thursday at 7.50 pence each.
By Paul McGowan; [email protected]
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