Last checked at 9 Sep 2021 16:03
9 September 2021
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
Kropz Plc
("Kropz" or the "Company")
Update on Appeal against Water Use Licence
Kropz Plc (AIM: KRPZ), an emerging African phosphate explorer and developer, confirms receipt today of the ruling from the Water Tribunal ("Water Tribunal") on the appeal against the integrated Water Use Licence ("WUL") for its Elandsfontein Project. The appeal has been dismissed.
By way of background, the South African Department of Water and Sanitation (the "Department") granted the WUL to Kropz Elandsfontein (Pty) Ltd ("Kropz Elandsfontein") on 7 April 2017. The water use activities were approved by the Director General, who was satisfied - upon consideration of the extensive evidence by highly-regarded and qualified experts - that no environmental damage would result from those activities, and that any impact on the environment could be prevented or would be adequately mitigated.
An appeal was lodged by a small group calling themselves the West Coast Environmental Protection Association ("WCEPA"), on 26 June 2017. The appeal was heard, over four sittings, from October 2019 to February 2021. As referenced above, their appeal has been dismissed by the Water Tribunal.
In terms of the South African Promotion of Administrative Justice Act, the appellant has 180 days to take the decision on review. If the Appellant opts for further litigation, the Hight Court would have to consider such review action. Although this may be possible, the appellant must still consider the reasons for the judgement, which will only be provided in due course. The Water Tribunal has committed to provide written reasons for its judgement later in the year.
Kropz CEO Mark Summers, stated: "Elandsfontein is a world-class operation, conducted in accordance with internationally accepted sustainable mining principles, with due and proper consideration for the environment. We are delighted that this matter has finally been dealt with."
For further information visit www.kropz.com or contact:
Kropz Plc | |
Mark Summers (CEO) | +27 (0) 79 744 8708 |
Grant Thornton UK LLP | Nominated Adviser |
Samantha Harrison Harrison Clarke George Grainger | +44 (0) 20 7383 5100 |
Hannam & Partners | Broker |
Andrew Chubb Ernest Bell | +44 (0) 20 7907 8500 |
Tavistock | Financial PR & IR (UK) |
Nick Elwes Jos Simson Oliver Lamb | +44 (0) 207 920 3150 kropz@tavistock.co.uk |
R&A Strategic Communications | PR (South Africa) |
James Duncan | +27 (0) 11 880 3924 james@rasc.co.za |
About Kropz Plc
Kropz is an emerging African explorer and developer of plant nutrient feed minerals with phosphate projects in South Africa and the Republic of Congo. The vision of the Group is to become a leading independent phosphate rock producer and to develop into an integrated, mine-to-market plant nutrient company focusing on sub-Saharan Africa.
-ENDS-