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.

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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.