Aquila to take JV disputes to High Court

Como-based mining company Aquila Resources Ltd will go to the High Court to challenge a ruling that a joint venture partner's sale of its stake did not result in a change of control over the project under their agreement.

Aquila had argued a move by AMCI, which held 50 per cent stakes in the Australian Premium Iron Joint Venture and the Belvedere Coal Joint Venture, to sell its stakes to Brazilian mining giant Vale (formerly CVRD) triggered a change of control under their agreements, which would have given Aquila rights to acquire the company's interests.

After considering the reasons for the Queensland Supreme Court's decision with its legal team, Aquila executive chairman Tony Poli said Aquila had instructed its legal representatives to seek special leave to appeal.

Allan Myers AO QC will continue to represent Aquila in the matter.