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Goldplat, Rand Refinery settle silver sulfide processing dispute

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Goldplat, Rand Refinery settle silver sulfide processing dispute

Goldplat Plc signed a final settlement agreement with Rand Refinery Pty. Ltd., ending a dispute between the two companies over a silver sulfide processing agreement.

Goldplat's Goldplat Recovery Pty. Ltd. unit signed a memorandum of understanding for the settlement deal in mid-January.

The companies agreed to arbitration in December 2017 after Goldplat announced plans in April 2017 to initiate legal proceedings against Rand Refinery to recover 13.5 million South African rand of unpaid invoices.

Goldplat did not disclose the settlement amount payable by Rand Refinery in its Feb. 22 release.