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SOLKROC LIMITED v. ANGLOGOLD ASHANTI (GHANA) LIMITED

June 20, 2018

HIGH COURT

GHANA

CORAM

  • ANGELINA MENSAH-HOMIAH (MRS.) JUSTICE OF THE HIGH COURT

Areas of Law

  • Contract Law
  • Evidence Law
  • Civil Procedure

AI Generated Summary

Solkroc Limited sued AngloGold Ashanti (AGA) over the termination of a three-year ore and waste haulage contract (C4033) at AGA’s Obuasi Mine. Solkroc had arranged financing from Standard Chartered Bank to acquire four additional Howo dump trucks, supplied by JA Plant Pool, relying on income from the contract. AGA terminated the contract after about nineteen months due to operational restructuring, giving written notice and subsequently agreeing to extend the termination date. Solkroc sought declaratory relief, expected revenues for the unexpired term, profits, special damages, and interest, arguing unfair breach and reliance-based estoppel. The High Court held that Clause 25.3 allowed termination with notice, quantities were indicative and not guaranteed, AGA expressly disclaimed guaranteeing Solkroc’s financing, and Solkroc acknowledged the termination and extension. Finding no breach, the court denied all reliefs and awarded costs of GHC 5,000 against Solkroc.

JUDGMENT