Blog Exposure – Nevsun Approaches Supreme Court of Canada Against Lower Court’s Ruling Allowing Hearing of Eritrean Workers’ Lawsuit

Stock Monitor: Freeport-McMoRan Post Earnings Reporting

LONDON, UK / ACCESSWIRE / January 30, 2018 / Active-Investors.com has just released a free research report on Nevsun Resources Ltd (NYSE NSU) (“Nevsun”). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=NSU as the Company’s latest news hit the wire. Media reports from News Agency Reuters on January 27, 2018, indicate that Nevsun has approached the Supreme Court of Canada to appeal against the ruling by a lower Canadian Court, which allowed a lawsuit filed by Eritreans workers against the Company to proceed in British Columbia (BC), Canada. The lawsuit was filed by the workers in 2014. Nevsun has filed the appeal with the Canadian Supreme Court on January 19, 2018. Register today and get access to over 1,000 Free Research Reports by joining our site below:

www.active-investors.com/registration-sg

Active-Investors.com is currently working on the research report for Freeport-McMoRan Inc. (NYSE: FCX), which also belongs to the Basic Materials sector as the Company Nevsun Resources. Do not miss out and become a member today for free to access this upcoming report at:

www.active-investors.com/registration-sg/?symbol=FCX

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Nevsun Resources most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=NSU

Nevsun’s Appeal to Canada’s Supreme Court

Nevsun’s appeal to Canada’s Supreme Court comes after the Appeals Court rejected its plea and confirmed that the case could continue to be heard in the Courts of BC. The right to grant or deny Nevsun’s appeal rests with the Supreme Court, however there is no fixed time for it to reach a decision. In its appeal to the Supreme Court, Nevsun has contended that it was inappropriate for a BC judge to question the legality of a sovereign state’s conduct. The Company called the matter an issue of national importance for Canada. It further said that the BC Court’s ruling was “out of step with international consensus and common law Courts that do not recognize damage claims based on breaches of international law”.

Significance of the Supreme Court’s ruling

The matter gains significance for the Company as the Supreme Court’s decision would impact the lawsuits filed by an additional 59 Eritrean nationals against the Company on similar grounds. If the Company loses the case, it will be liable to pay significant damages to these workers.

The Supreme Court’s decision is being monitored closely by other Canadian mining Companies with operations outside Canada. The ruling in this case could set a precedent for further litigations, especially if the operations are in countries with weak human rights records or where there is no independent rule of law. It would ensure that Canadian mining companies as well as its suppliers, contractors, and subcontractors respect human rights and not be willfully blind to or involved in human rights violations abroad.

About the lawsuit filed by Eritreans workers

Three Eritreans workers had filed a lawsuit against Nevsun in November 2014 with the BC Supreme Court claiming damages from the Company. These workers were employed with a local sub-contractor from 2008 to 2012 at the Company’s copper-zinc Bisha Mine located 150km west of Asmara, Eritrea in East Africa. The State of Eritrea owns 40% stake in Bisha Mine via state-owned Eritrean National Mining Company (ENAMCO) and the remaining stake is owned by Nevsun.

These three workers alleged that the local sub-contractor, an Eritrean government-owned construction firm, used them as slaves during the construction of Nevsun’s Bisha mine. Since Nevsun has partnered with the Eritrean’s government for developing the Bisha mine, Nevsun is responsible for the alleged forced labor, torture, and cruel and inhuman treatment of these workers by contractors and military personnel supervising the construction work at the mine. The Company has denied the allegations and said it was prepared to defend itself against the claims. The Company’s argument is that its mine is a model development and that the Eritrean military never provided labor to the mine. Even if this was true, the Company believes that its was not directly responsible for employing the workers. The Company argued that since the case was related to a mine in Eritrea, the case did not fall under Canada’s jurisdiction and should be tried in Eritrea and not in Canada.

In October 2016, the trial Court dismissed Nevsun’s application and allowed the case to be filed in BC as Nevsun was not established in Eritrea and as there was a risk that the trials would not be fair if tried in Eritrea, due to the country’s poor human rights record and totalitarian practices of the Eritrean government. Nevsun had appealed against the trial Court’s judgement to the Appeals Court. In November 2017, the three judges of the BC Appeals Court rejected Nevsun’s appeal and supported the lower Court’s ruling and allowed the case to be argued in Canada. The Court also allowed the workers to move forward with their claims of crimes against humanity, slavery, forced labor, and torture against the Company. Nevsun had the option of approaching the Supreme Court of Canada over the ruling of the Appeals Court.

About Nevsun Resources Ltd

Vancouver, British Columbia-based Nevsun is a leading mid-tier base metals company. The Company owns 100% of copper-gold Timok Upper Zone and 60.4% stake in Timok Lower Zone in Serbia. The Company also owns 60% stake in copper-zinc Bisha Mine in Eritrea.

Stock Performance Snapshot

January 29, 2018 – At Monday’s closing bell, Nevsun Resources’ stock dropped 2.12%, ending the trading session at $2.31.

Volume traded for the day: 574.47 thousand shares.

Stock performance in the previous three-month period – up 13.24%

After yesterday’s close, Nevsun Resources’ market cap was at $690.55 million.

The stock has a dividend yield of 1.73%.

The stock is part of the Basic Materials sector, categorized under the Copper industry.

Active-Investors:

Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

A-I has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third-party research service company (the “Reviewer”) represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charterholder (the “Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you’re a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: info@active-investors.com

Phone number: 73 29 92 6381

Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Active-Investors

ReleaseID: 487329