Global Critical Resources Corporation (GCR) signed a settlement today, and the order has been lifted by the court, in the dispute between Tataki Mining Company Proprietary Ltd (“Tataki”) and Grindwell Proprietary Limited, trading as Discovery Drilling Contractors Africa (“Grindwell”). This follows the decision on Saturday, 31 January 2026, by Justice Reuben Lekorwe of the High Court of the Republic of Botswana to place Tataki under provisional liquidation following an application by Grindwell. Grindwell elected to escalate directly to liquidation proceedings, without notifying Tataki or completing the reconciliation process as outlined in the parties agreement.
This immediate, reduced-sum payment reflects the fact that the dispute between Tataki and Grindwell was a commercial matter and not an insolvency issue, and that Tataki rejected the original amounts invoiced by Grindwell.
However, Tataki and Grindwell have agreed and signed an immediate settlement, and Judge Reuben Lekorwe has rescinded the issued court order this afternoon effective immediately. This immediate, reduced-sum payment reflects the fact that the dispute between Tataki and Grindwell was a commercial matter and not an insolvency issue, and that Tataki rejected the original amounts invoiced by Grindwell.
GCR is grateful to the government of Botswana through the Minister of Minerals & Energy and the U.S. Embassy in Gaborone for their support in seeking a satisfactory resolution for both parties. GCR remains committed to its investment in Tataki Mine and Botswana and looks forward to achieving investment targets in the years to come.
