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PhosCo Ltd (ASX:PHO)
ALERT: Price-sensitive ASX Announcement for PHO
Current share price for PHO : $0.140 0.074 (112.12%)+
Announcement
Release
1 Oct 2025 9:14AM
Price at Release
$0.066
Full Release
Summary
PhosCo Ltd announced the termination of ICC arbitration initiated by Tunisian Mining Services SARL, concerning Chaketma Phosphates SA. The ICC found TMS in breach of its rules due to non-payment of fees and withdrew the action against PhosCo and its subsidiary Celamin Pty Ltd. This development continues a pattern of TMS's obstructive behavior in the region. PhosCo aims to hold TMS accountable for its actions, especially as TMS has previously evaded paying A$7.5 million in damages since 2017.
Key Points
- PhosCo Ltd's arbitration with Tunisian Mining Services SARL (TMS) has been terminated.
- The ICC arbitration was related to Chaketma Phosphates SA (CPSA).
- TMS was found to breach ICC rules by not paying fees, leading to withdrawal of the action.
- PhosCo Ltd and its subsidiary Celamin Pty Ltd are no longer subject to the ICC action.
- PhosCo intends to hold TMS accountable for its actions.
- TMS has not paid A$7.5 million in damages from a previous arbitration since 2017.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.
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