AVZ Discussion 2022

wombat74

Top 20
Friday's extension should include intended cost cuttings moving forward.
 
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Dazmac66

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Marius absolutely feeding it to them in the last 10 minutes.
 
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whales

Regular
Whales are ready, just waiting around ready for some action

View attachment 33111
How can there be action when Cominiere still uncertain to be able to pass 10% to the Gov.
Pre requisite to obtaining mining licence ???
Do they have 25% currently or locked up in court decisions outcome.
Zijin plus Cong plus MMCS.
 
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Xerof

Have a Cigar 1975
As I said a couple of days ago, ICC case involving MMCS 5% holds the key to any real progress IMO. COMINIERE needs that back, as a minimum, to be able to cede the 10%

The other 15% can float about in a paper bag anywhere between COMINIERE, AVZI or Zijin, without upsetting any apple carts
 
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Roon

Regular
As I said a couple of days ago, ICC case involving MMCS 5% holds the key to any real progress IMO. COMINIERE needs that back, as a minimum, to be able to cede the 10%

The other 15% can float about in a paper bag anywhere between COMINIERE, AVZI or Zijin, without upsetting any apple carts
Could the ceding of 10% to government also cause a major problem I wonder? It's in our Joint Venture Agreement that it should come from Cominiere, the Mining Code doesn't specify that. For the ML to be issued the government just has to have the minimum 10%, so could Cominiere just sit on it and refuse to cede whatever happens with MMCS and Zijin, providing another avenue to disrupt the ML should they wish to? As a party to Dathcom this stalemate would need to be settled through ICC if they felt like adding a few years to the party. They know they would lose as its in the JVA, but could be a useful way to delay. And they could argue it publicly by saying its in the national interest to ensure the Congolese retains its fair share. Hopefully that would get reigned in on by the Gov, but who knows.

MoP had said before that AVZ should transfer 10% to the government. Whether that was in addition to that from Cominiere or instead was unclear, though you know Cominiere would love to sell their remaining chunk out for more snacks. The government may also be keen to push for more than the 10% - they have more equity in some other ventures (e.g 20% in Kamoa with Glencore). Maybe that's one of the sticking points in 'negotiations' that seem to have been running forever.

Or if as mentioned in the above posts if MMCS doesn't get settled, given the court cases i don't see how that 10% could be transferred at present. Let's hope that case does result in Cominiere's favor sometime soon, as otherwise we'll be stuck again.

Just thinking out loud.
 
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Xerof

Have a Cigar 1975
Could the ceding of 10% to government also cause a major problem I wonder? It's in our Joint Venture Agreement that it should come from Cominiere, the Mining Code doesn't specify that. For the ML to be issued the government has to have the minimum 10%, so could Cominiere just sit on it whatever happens with MMCS and Zijin, providing another avenue to disrupt the ML (like CAMI not processing the surface fees) should they wish to? As a party to Dathcom disputes would need to be settled through ICC if they felt like adding a few years to the party.

MoP had said before that AVZ should transfer 10% to the government. Whether in addition to that from Cominiere or instead was unclear, though you know they'd love to sell their remaining chunk out for more snacks. Or if as mentioned above if MMCS doesn't get settled the court cases should mean that this 10% can't be transferred at present.Or if as mentioned above if MMCS doesn't get settled the court cases should mean that this 10% can't be transferred at present.

The government may also be pushing for more than the 10% - they have more equity in some other ventures (e.g 20% in Kamoa with Glencore).

Just thinking out loud.
Shhhh, my brain hurts :confused::confused:

I agree they are looking for a bigger slice, but I think that (may) come as gifted equity in AVZ

But they still need all the shit sorted out first
 
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Frank

Top 20
Marius absolutely feeding it to them in the last 10 minutes.

*To remind,

Marius Mihigo | AVZ | lithium| DRC| subtitled Interview | March 8, 2023


 
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cruiser51

Top 20
This tells the amazing story of Zijin's (Chinese State Company and thus represents China in this dirty business) attempts to acquire for a criminal illegal fire sale price of US$33.4 million 15% of Dathcom's discovered and AVZ funded world class Tin and Lithium deposit in Manono.

Just unbelievable how he Chinese hung themself out to be seen, without any shame, as a bunch of cheap and nasty highway thieves.

Shame on you China!!

Manono lithium certified by Dathcom Mining: the underside of a plot revealed​

February 17, 2023 Mining
lithium_220.jpg





While the recent report by the General Inspectorate of Finance (IGF acronym) highlighted the poor management and selling off of the mining assets of the Cominière Portfolio company by the members of its board of directors, a letter, related documents and three audios that have reached our editorial office bring to light a plot hatched in the shadows: to sell at all costs, and in defiance of the prescriptions of the law to a Chinese investor, Cominière's stake in Dathcom Mining, the joint venture company venture that it holds with the Australian AVZ International Ltd and Dathomir SASU, a company under Congolese law belonging to the discreet but no less powerful Simon Cong Mao huai.

It all starts when the Chinese mining company ZijinMINING, through its subsidiary Jin Cheng tries around November 2021 to acquire the shares of Cominière within Dathcom Mining, i.e. 15% of the shareholding of the joint venture company in November 2021 Zijin and Cominière sign a share transfer agreement without having notified AVZ International or having previously given it the possibility of exercising its right of first refusal as prescribed by law.

Faced with AVZ's refusal to endorse this irregular transfer, Zijin and Cominière returned to the charge, no longer frontally but, like a crab, sideways.

In a letter dated October 22, 2022 addressed to Cominière with the aim of "advancing the Manono lithium mining project" , Chen Jinghe, Chairman of the Board of Directors of Zijin Mining made a proposal to his interim counterpart at within the Congolese company: do everything to acquire the northern portion of the northern concession covered by Dathcom Mining's Exploitation License 13359, a part which the company would have renounced.

Mr. Jinghe, who describes the exercise by AVZ International of its right of pre-emption on any sale proposal by a shareholder as an '' abusive use of its majority ' ', informs Cominière of his company's desire to acquire from now on '' the northeast part of PR 13359, the part referred to .''
In return, Cominière will be rewarded by receiving 29% of the share capital of the company to be created to exploit the coveted portion of PE 13359.

But the game does not look very simple: according to the mining code, any portion of a permit which its holder renounces is first returned to the public domain of the State, leaving it up to any interested person to make the request to the Mining Cadastre. And given the lusts fueled by lithium at the moment and the number of companies jostling at the gate of the DRC to have a piece of the cake, it is not certain that the northern portion of PE 13359 will automatically return to Zijin or its subsidiary.

This is why the letter, in unequivocal terms, requires that Cominière "be able" to obtain this portion of the concession and the rights attached thereto, failing which Zijin will not transfer the 15 % of Dathcom's shareholding that it illegally acquired from Cominière for the tidy sum of 33, 4 million US dollars but of which it is unable to avail itself by virtue of the exercise, by AVZ International, of its right of first refusal.
Like what, it is never good to put the proverbial cart before the horse...

As Zijin's letter so eloquently states: '' To avoid any ambiguity, it should be specified that if COMINIERE fails to legally and effectively transfer the mining right of the Target Party to the Joint Venture, COMINIERE will not have the right to demand from JIN CHENG the retrocession of 15% of shares in DATHCOM, nor the waiver of the payment it made for the acquisition of 15% in the capital of DATHCOM on behalf of COMINIERE.' '

To tell the truth, Cominière would lose everything and would find itself in debt to the tune of 33.4 million dollars, an amount that this company, badly managed and without any income, would have all the trouble in the world to repay.

We therefore understand all of Cominière's despair, whose senior management, as the IGF report demonstrates, have already squandered part of the sum paid to it, and which it is already unable to repay to a Hard-pressed Zijin who was promised the moon to receive nothing but lead.
We also understand the peremptory tone of PCA de Zijin and the orders to the Board of Directors of Cominière to which she addresses herself as vulgar obedient and submissive lackeys.
Who hastened to put pressure on a Minister of Mines who granted them a Ministerial Order reporting PE 13359.

As detailed so well in the IGF report, Cominière perfectly illustrates the disastrous management of the companies in the Portfolio and the way in which they collude with a number of foreign companies to loot and sell off the natural resources which rightfully belong to the Congolese.
(Folder to follow)
By Mupungila Malu, New Congo and Leader.
 
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Remark

Top 20
Well Zijin can pick my most beautiful side...

 
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Winenut

Go AVZ!
This tells the amazing story of Zijin's (Chinese State Company and thus represents China in this dirty business) attempts to acquire for a criminal illegal fire sale price of US$33.4 million 15% of Dathcom's discovered and AVZ funded world class Tin and Lithium deposit in Manono.

Just unbelievable how he Chinese hung themself out to be seen, without any shame, as a bunch of cheap and nasty highway thieves.

Shame on you China!!

Manono lithium certified by Dathcom Mining: the underside of a plot revealed​

February 17, 2023 Mining
lithium_220.jpg





While the recent report by the General Inspectorate of Finance (IGF acronym) highlighted the poor management and selling off of the mining assets of the Cominière Portfolio company by the members of its board of directors, a letter, related documents and three audios that have reached our editorial office bring to light a plot hatched in the shadows: to sell at all costs, and in defiance of the prescriptions of the law to a Chinese investor, Cominière's stake in Dathcom Mining, the joint venture company venture that it holds with the Australian AVZ International Ltd and Dathomir SASU, a company under Congolese law belonging to the discreet but no less powerful Simon Cong Mao huai.

It all starts when the Chinese mining company ZijinMINING, through its subsidiary Jin Cheng tries around November 2021 to acquire the shares of Cominière within Dathcom Mining, i.e. 15% of the shareholding of the joint venture company in November 2021 Zijin and Cominière sign a share transfer agreement without having notified AVZ International or having previously given it the possibility of exercising its right of first refusal as prescribed by law.

Faced with AVZ's refusal to endorse this irregular transfer, Zijin and Cominière returned to the charge, no longer frontally but, like a crab, sideways.

In a letter dated October 22, 2022 addressed to Cominière with the aim of "advancing the Manono lithium mining project" , Chen Jinghe, Chairman of the Board of Directors of Zijin Mining made a proposal to his interim counterpart at within the Congolese company: do everything to acquire the northern portion of the northern concession covered by Dathcom Mining's Exploitation License 13359, a part which the company would have renounced.

Mr. Jinghe, who describes the exercise by AVZ International of its right of pre-emption on any sale proposal by a shareholder as an '' abusive use of its majority ' ', informs Cominière of his company's desire to acquire from now on '' the northeast part of PR 13359, the part referred to .''
In return, Cominière will be rewarded by receiving 29% of the share capital of the company to be created to exploit the coveted portion of PE 13359.

But the game does not look very simple: according to the mining code, any portion of a permit which its holder renounces is first returned to the public domain of the State, leaving it up to any interested person to make the request to the Mining Cadastre. And given the lusts fueled by lithium at the moment and the number of companies jostling at the gate of the DRC to have a piece of the cake, it is not certain that the northern portion of PE 13359 will automatically return to Zijin or its subsidiary.

This is why the letter, in unequivocal terms, requires that Cominière "be able" to obtain this portion of the concession and the rights attached thereto, failing which Zijin will not transfer the 15 % of Dathcom's shareholding that it illegally acquired from Cominière for the tidy sum of 33, 4 million US dollars but of which it is unable to avail itself by virtue of the exercise, by AVZ International, of its right of first refusal.
Like what, it is never good to put the proverbial cart before the horse...

As Zijin's letter so eloquently states: '' To avoid any ambiguity, it should be specified that if COMINIERE fails to legally and effectively transfer the mining right of the Target Party to the Joint Venture, COMINIERE will not have the right to demand from JIN CHENG the retrocession of 15% of shares in DATHCOM, nor the waiver of the payment it made for the acquisition of 15% in the capital of DATHCOM on behalf of COMINIERE.' '

To tell the truth, Cominière would lose everything and would find itself in debt to the tune of 33.4 million dollars, an amount that this company, badly managed and without any income, would have all the trouble in the world to repay.

We therefore understand all of Cominière's despair, whose senior management, as the IGF report demonstrates, have already squandered part of the sum paid to it, and which it is already unable to repay to a Hard-pressed Zijin who was promised the moon to receive nothing but lead.
We also understand the peremptory tone of PCA de Zijin and the orders to the Board of Directors of Cominière to which she addresses herself as vulgar obedient and submissive lackeys.
Who hastened to put pressure on a Minister of Mines who granted them a Ministerial Order reporting PE 13359.

As detailed so well in the IGF report, Cominière perfectly illustrates the disastrous management of the companies in the Portfolio and the way in which they collude with a number of foreign companies to loot and sell off the natural resources which rightfully belong to the Congolese.
(Folder to follow)
By Mupungila Malu, New Congo and Leader.


"it is not certain that the northern portion of PE 13359 will automatically return to Zijin or its subsidiary."

I find that statement odd and probably wrong????

Zijin didn't pay for the northen part of PE 13359 or buy it in any way....so how can it be returned or not returned??

Zijin purchased a 15% interest in Dathcom from Cominiere

Or have I lost my mind

Or did it purchase a 15% interest in the JV??

Sorry I've lost the plot on all this :rolleyes:
 
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geo_au

Regular

DRC-Mines: the government suspends the activities of the Chinese company JIANG MINING SPRL following the pollution of the Aruwimi River​

March 28, 2023 NEWSCD No comment
IMG-20211110-WA0022-780x470-1.jpg


The government of the Republic suspends the activities of the Chinese mining company JIANG MINING SPRL, accused of illicit exploitation and of being at the root of the water pollution of the Aruwimi river (La Lohale), in the province of Tshopo.
This is what emerges from a decision signed on March 25 by the Minister of Mines, a copy of which has reached our editorial office. In her letter, Antoinette Kalambayi, who cites her sources, notes that this company engaged in the exploitation and extraction of gold ore, diamonds and rare metals on the bed of the Aruwimi river, without authorisation.
Qualifying this behavior as a repeat offender, the Minister of Mines decided, on behalf of the Congolese government, to suspend all activities of JIANG MINING SPRL.
To this end, it instructs the head of the provincial mining division in the Tshopo to take all necessary measures to ensure that the minerals exploited by this company are confiscated in compliance with the legal provisions.
This decision also follows the visit in January 2022 of the Deputy Prime Minister, Minister of the Environment and Sustainable Development, Ève Bazaïba Masudi to Basoko to get an idea of this pollution.
JJ KITENGE
What is clear is that Felix is resolute in
 
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Mute22

Regular
What is clear is that Felix is resolute in
Can you give us any hint what you know Geo, losing my mind over here. How much longer?
 
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geo_au

Regular
No doubt this is FT pulling her strings, she is useful in more ways then one.
 

Winenut

Go AVZ!
Someone's pulling something....
 
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wombat74

Top 20
Can you give us any hint what you know Geo, losing my mind over here. How much longer?
Mate , geo-au knows a lot less than you do . imo
 
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cruiser51

Top 20
"it is not certain that the northern portion of PE 13359 will automatically return to Zijin or its subsidiary."

I find that statement odd and probably wrong????

Zijin didn't pay for the northen part of PE 13359 or buy it in any way

It's purchased a 15% interest in Dathcom from Cominiere

Or have I lost my mind

Or did it purchase a 15% interest in the JV??

Sorry I've lost the plot on all this :rolleyes:
It's probably lost in translation.

The stint Zijin was trying to pull, was:

I give you the 15% of the southern section, for which I paid US$33.4 million and in return you give me 70% of the northern section and we call it quits.

Ever done business with Chinese people?

Zijin first learned this trick:



Got it?
 
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Bin59

Regular
They should be talking about the Monster of Manono not Haut-Lomami.

 
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RHyNO

Regular
The end result in all this is going to come down to the BOD and their capacity to do what they are paid enormously for. It reminds me of going for dinner at some of the restaurants around Fitzroy and melbourne that charge an arm and a leg. If the food and wine is brilliant. Happy to part with $350 for dinner for 2. Fair game. Takes talent. But often you’ll go and they act like their food is worth $350 when it’s just some shit I could whip up at home And a fucking naked wines subscription. Now the question is. Is the BOD a premium BOD like @geo_au is claiming or are they just a cheeky overpaid pack of poorly dressed ding dongs who are out of their depth? Time will indeed tell, however I must say and I’m sure I speak for a few of us here. “If the milk turns sour I’m not the type of pussy to drink it”
 
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Peterg

Member
Ann Friday?
Come on team
 
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Bin59

Regular
An article which I previously missed having some info on SEZ zones:

(ZES) Special Economic Zone for lithium and batteries, with Australians, Chinese or Americans and Zambians?​

February 25, 2023
Kiki Kienge
AVZ.jpeg

"We are very happy to be able to count on AVZ. » Julien Paluku
By Kiki Kienge

This is following a tweet from the Minister of Industry of the DR Congo, Julien Paluku after a tête-à-tête with the Chinese ambassador to DR Congo, Zhu Jing to guarantee the interests of Chinese companies in DR Congo. That many Congolese have called for caution and vigilance on the creation of a Chinese Special Economic Zone (SEZ), for the development of a value chain for Manono's lithium electric batteries.


Special Economic Zones (SEZs) are free zones often created by the central government, at the scale of a port, neighborhood or city, functioning as economic and fiscal enclaves.

A geographical region in which economic laws are more liberal and advantageous for the companies that settle there, than those in the rest of the country. The SES offers a combination of tax incentives, favorable customs duties, simplified customs procedures and limited regulations.

Why this concern of the Congolese about the Chinese ESS?

Recently in DR Congo there have been negative economic revelations in the majority of Chinese companies. Finally, it was the report of the General Inspectorate of Finance (IGF) under the batons of the chief inspector, Jules Alingete, who revealed the underside of the figures of the Sino-Congolese contract, a barter signed in 2008 under the Joseph Kabila regime between DR Congo and a consortium of Chinese companies.

Manono ZES (AVZ), Chinese ZES (CATL) and the DRC/USA/Zambia value chain

Upstream on the development of Manono lithium that will be exploited in Tanganiyka by Dathcom, a joint venture between the Congolese State with COMINIERE and the Australians of AVZ Minerals, we must talk about the special economic zone of Manono, a concept of AVZ Minerals with Dathcom for the recovery and good exploitation of lithium and tin from Manono

In short, below are some passages from AVZ Minerals' press release of February 18, 2020 after the meeting between its representatives in DR Congo with that of the Congolese government, Industry Minister Julien Paluku;

AVZ signs a memorandum of understanding with the Ministry of Industry to create a

special economic zone in Manono

  • AVZ signed a memorandum of understanding with the Congolese government to create a special economic zone in Manono, Tanganyika province, DRC.
  • The special economic zone has the potential to have important economic benefits for the development and profitability of the company. important economic benefits for the development and profitability of the Manono lithium and tin project, including exemptions or reductions on corporate tax and customs taxes.
  • AVZ Minerals Limited (ASX: AVZ, "the company") is pleased to announce that AVZ has signed a memorandum of understanding ("MoU") with the Ministry of Industry for the development of a lithium and tin extraction project.
  • The objective of the Memorandum of Understanding is to establish the conditions for collaboration and negotiation between the Ministry of Industry and AVZ for the establishment of the "Manono Special Economic Zone" in Tanganyika province and the development of basic infrastructure in this area.
  • The geographical area defined will initially include all essential infrastructure such as water, electricity (the Mpiana Mwanga hydroelectric facility) and health services, electricity (Mpiana Mwanga hydroelectric power plant) and roads, including Manono Lithium and Tin project licenses (PR13359, PR4029 and PR4030) to facilitate successful mining.
AVZ CEO Nigel Ferguson said: "We are extremely excited about this major step for the Manono lithium and tin project (...)"

Julien Paluku, Minister of Industry, said in particular: "We are very happy to be able to count on AVZ. Industry must now be a factor of stability and peace with the creation of wealth and jobs..."

To understand AVZ's press release, this Manono ZES would not be linked to the electric battery value chain project, because AVZ Minerals is not a battery manufacturer.

But the question arises when we look at the entry of the Chinese giant in the manufacture of batteries, CATL with 24% in AVZ Minerals for a possibility of valuing Manono's lithium and why not the manufacture of batteries in the future.

But here it is that in Minister Julien Paluku's Tweet, we talk about another Chinese ZES with the same CATL operated in AVZ Minerals for the development of a project in the value chain of Manono lithium electric batteries.

In addition to the two possible lithium-related ZES, from Manono with AVZ/CATL and the Chinese ZES, there is also the area to be created in Upper Katanga on the basis of the agreement between the same government of DR Congo, Zambia and the United States for the manufacture of Manono's lithium-related batteries.

6bff5a0657d5d8088ceed3c12a03e6d2

 
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