Motsepe in court over R3.4bn Tanzanian suit

Billionaire Patrice Motsepe and his associate companies are being sued for $195 million (about R3.4 billion) in Tanzania, with one of the biggest suits to appear in front of the country's commercial court set to resume today.

Tanzanian mining firm Pula Group is suing Motsepe and his associate companies - including African Rainbow Minerals, African Rainbow Capital and ARCH Emerging Markets - for allegedly breaching a non-compete contract when it invested in Australia's Evolution Energy Minerals, next to Pula's graphite project, said company chair Charles Stith.

"The amount was based on a third-party valuation of what Pula stands to lose as a result of the competitive disadvantage resulting from the Motsepe associated companies' violation of a confidentiality and non-compete agreement," Stith said.