THE Court of Appeal last week ruled that the letter of intent given to Axiom KB Ltd over Takata and San Jorge by the Minister of Mines and Energy is “invalid”.
The Court of Appeal delivered its ruling on Tuesday last week following the long running dispute between SMM Solomon Ltd and Axiom KB Ltd.
The court said the letter of intent issued on 12th April 2011 to Axiom KB Ltd by the Minister of Mines should be quashed.
Axiom KB Ltd asked the court to limit that order to Takata but the court did not grant Axiom KB Ltd’s request.
A statement from SMM Solomon Ltd yesterday said Axiom Mining has published statements and articles have appeared in local and international newspapers alleging that SMM Solomon Ltd has been in contempt of the Honourable High Court of Solomon Islands by allegedly breaching an order made on 24 September 2014.
“That order was set aside by the Court of Appeal when it gave its judgment on 21 March 2016.
“SMM Solomon Ltd deniesany alleged breach of orders in contempt of the Honourable High Court of Solomon Islands,” the statement said.
SMM Solomon Ltd describes Axiom Mining’s allegations as “baseless”.
“SMM Solomon Ltd will continue to strongly defend those claims andbelieves that it will be successful,” the statement said.