Insurers Pay $7.5M For Sierra Leone Mining Accident

Law360, New York (April 26, 2010, 2:34 PM EDT) -- Titanium Resources Group Ltd., a mining company with operations in Sierra Leone that at one time accounted for 75 percent of the country's exports, said Monday it will receive $7.5 million from its insurers to settle a lawsuit seeking coverage for a mining accident.

The company, which sued its insurers after a mining platform, Dredge D2, collapsed in 2008, said the agreement should end the suit. The company filed the case in U.K. Commercial Court in London on behalf of a subsidiary.

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