sur Sarama Resources Ltd. (CVE:SWA)
Sarama Resources Updates on Arbitration with Burkina Faso
Sarama Resources Ltd. has provided an update on its arbitration case against the Government of Burkina Faso concerning the expropriation of its Tankoro 2 Exploration Permit. The permit was crucial for the Sanutura Project in the Houndé Greenstone Belt. In December 2024, Sarama initiated arbitration with the International Centre for Settlement of Investment Disputes (ICSID), seeking over US$120 million in damages.
The arbitral tribunal has been formed, including experts appointed by Sarama and the ICSID. A procedural hearing occurred in July 2025, with further steps including a written Memorial by Sarama due by October 31, 2025. The Canadian company benefits from the Canada-Burkina Faso Bilateral Investment Treaty for investment protections.
Sarama secured a non-recourse litigation funding agreement with Locke Capital II LLC, ensuring US$4.4 million for legal expenses. Legal representation is provided by Boies Schiller Flexner, noted for its experience in similar arbitration cases.
R. P.
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