Franco-Nevada disputes Burkina Faso court ruling on Karma Mine stream

Franco-Nevada Corporation (NYSE: FNV) said it is contesting a local court decision in Burkina Faso that purports to nullify a stream agreement related to the Karma Mine, following a news release by Riverstone Karma SA announcing the ruling.

The Toronto-based company said the stream agreement is governed by Ontario law and that it considers the Burkina Faso judgment invalid. Franco-Nevada said it is seeking to have the judgment vacated.

The company said it is also pursuing legal remedies in Ontario and other jurisdictions under the dispute resolution provisions of the agreement. The legal action is directed at Riverstone Karma SA, its parent Néré Mining SA, and other affiliates.

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