Burkina Faso's move to terminate manganese mine contract deemed valid by court

A Paris court has dismissed a $2.2 billion claim against Burkina Faso lodged by firms in businessman Frank Timis's Pan African Minerals Group in a dispute over one of the world’s largest manganese mines, a government spokesman said on Thursday.

The arbitration court found that "the termination of the contract by Burkina was valid and justified in law," spokesman Remi Dandjinon said in a statement. "For the Burkinabe government, this is satisfactory because it allows us to regain control of the deposit." Pan African Minerals Group did not immediately respond to requests for comment.

(With inputs from agencies.)