Indiana Resources (ASX:IDA) confirmed that it received all installments from the Tanzanian government in compliance with an earlier settlement deed, and the outstanding amount of the full award as of May is $36.9 million, according to a Tuesday Australian bourse filing.
It applied for a tax ruling from the Australian Taxation Office to make a payment to shareholders as a capital return and is awaiting final confirmation from the office as to the amount that can be paid as a capital return.
It also lodged a notice of arbitration with the London Court of International Arbitration after it received a "Notice of Jeopardy Assessment" from the Tanzanian Revenue Authority's regional Lindi office. Tanzania failed to withdraw the assessment as requested and continues to be in breach of the settlement deed.
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