Xerof
Flaming 1967
Can’t see any rescheduling for this, so perhaps it was finally thrown out. Have any of you locals phoned the Court for an update?
AVZ Discussion 2022
- Thread starter GazDix
- Start date
Hodlandwin69
Regular
Usually takes a few days for them to reschedule next date, revisit this in a week and we'll see
Xerof
Flaming 1967
Morning all, here’s today head shaker for consumption with your cornflakes
From Bloomberg
Congo Sues Apple Alleging ‘Pillaged’ Minerals in Products
The Democratic Republic of Congo filed lawsuits against Apple Inc. in France and Belgium. In them, it accuses the company of using minerals “pillaged” from the central African nation in its products.Congo’s lawyers have initiated criminal complaints against the US tech giant’s subsidiaries in the two European countries “over the contamination of Apple’s supply chain” with “blood minerals,” according to a statement on Tuesday from Amsterdam & Partners LLP, a law firm working for Congo’s government.
Eastern Congo, which is rich in tin, tungsten and tantalum, minerals widely used in electronics including the iPhone, has been wracked by conflicts involving its armed forces and dozens of militant groups for about three decades. The administration of President Felix Tshisekedi accuses neighboring Rwandaof fueling the violence and providing a conduit for traders to smuggle minerals and gold out of Congo. Rwanda has long denied the allegations.
The complaints allege that Apple uses minerals that have been “laundered through international supply chains.” They also claim that the firm has also deployed “deceptive commercial practices to assure consumers that the tech giant’s supply chains are clean.”
Apple didn’t immediately respond to a request for comment, but previously referred Bloomberg to a March filing in which it said that all of the smelters and refiners in its supply chain had participated in an audit, and suppliers who refused or failed were removed. The company said it was reasonably confident that none of its tin, tungsten or tantalum suppliers financed or otherwise benefited armed groups active in the region.
Congo’s international legal team is tasked with pursuing individuals and companies involved in the “extraction, supply and commercialization of natural resources” that have driven “a cycle of violence and conflict by financing militias and terrorist groups,” according to the statement.
Read More: Congo to Clamp Down on Companies Buying Conflict Minerals
Government spokesman Patrick Muyaya confirmed the country had filed the lawsuit, without providing more details.
This is the first case Congo has filed as part of a strategy to pressure end users who may be using products reliant on minerals that were smuggled or have contributed to conflict. According to a spokesperson for Amsterdam & Partners, the French and Belgium judicial systems are well suited for these kinds of legal actions.
Last year, Congo and Rwanda produced more than 60% of the tantalum used in the world’s portable electronics, according to the US Geological Survey.
— With assistance from Michael J Kavanagh
cruiser51
Top 20
Don't forget the DRC is highly likely up for a huge damages claim from AVZ, the money has to come from somewhere, might as well hit Apple and Tesla.
Good luck.
Lot of court cases in progress just 2 that should have results available have had HEARING in DECEMBER 2024
I heard NIGEL didn't attend...?????
4 Dathomir Dispute – the two ICC arbitration proceedings brought by AVZI against Dathomir in relation to Dathomir’s attempts to challenge the sale to AVZI of its 15% shareholding in Dathcom;
and 5 Fat Tail Dispute – the proceedings commenced by Fat Tail Holdings Pty Ltd (Fat Tail) against the Company and two of its directors (Mr Nigel Ferguson and Mr John Clarke) in the Supreme Court of Western Australia alleging oppressive conduct and misleading and deceptive conduct.
PERSONAL if you don't care you have your own opinions..!
But there is 20000 mum and DAD S H that do care...!
Nice if AVZ NIGEL updated their S H in regards to these matters..!
FAT TAIL has taken out serious court action in the W AUST court system..!
Many would want to know the outcome of this matter..!
But there is 20000 mum and DAD S H that do care...!
Nice if AVZ NIGEL updated their S H in regards to these matters..!
FAT TAIL has taken out serious court action in the W AUST court system..!
Many would want to know the outcome of this matter..!
This is great news as they will not have a leg to stand on when/if blood lithium is shipped out of the drc
I bet that Apple have paid for said resources - its just the money has been spent on consulting fees and snacks and never hit treasury. Gee that sounds familiar.
Apple should trigger a full audit on payments made to the DRC for these minerals - they might even find a minister or two with their hand in the cooky jar.
Just a thought bubble - SilentOne
Thanks to Amovatio on the crapper yesterday.
Sorry if already posted.
FYI:
Hello AVZ's ,
Following on from the Locke Funding Announcement and AGM does anyone have an update on the following Legal Case-
Dathcom JV dispute (Zijin/Dathomir) – From the AGM this hearing was to be the following week. Jincheng disputing our pre-emptive rights/Dathomir challenge over our 15% in Dathcom.
The outcome of this case will undoubtedly put us in the box seat for the ICC and ICSID Arbitration Cases – Title for 13359 ICSID claim against DRC.
Jincheng would have exhausted all avenues to gaining a small portion of Manono. So how does the DRC propose to meet its fine obligations and the economic fallout from these Arbitration hearings.
Will the DRC show its allegiance to China sooner to access the $50B offered by the Chinese President when Felix visited China a couple of months back as part of the African nations visit. This would certainly cover a negotiated settlement for the DRC to pay out AVZ and allow the Chinese to proceed full steam ahead with its quest to obtain control and dominance over the global Lithium market and other assets in the DRC. Or does the DRC favour the side of the recent US funding offer for the Lobito project. Without doubt any commitment shown by the DRC towards China would halt this funding and put the DRC at loggerheads again with its neighbours and international community.
IMO the DRC wanting to head to Arbitration is a smoke screen for the current negotiations that are proceeding. For the DRC to proceed and wait for a verdict to come out from an International court virtually condemning them for allowing this corruption to be played out would be suicidal to attracting future Western investment and this would not look great for wanting to attract other funding from international agencies such as the World Bank. Such a decision on the world stage would most certainly keep the critical resources in the ground indefinitely. The DRC cannot afford further delays in benefitting from the sale of its critical resources. It must act now to award the Full Mining Licence or pay out AVZ. A decision has to be made early in the new year and not allow Arbitration to proceed.
Felix is aware of the International pressures he is now faced with. How much longer does he let this go on before coming up with an outcome to break the deadlock?
Choosing to proceed to Arbitration will expose the names of his DRC Ministers, Cominiere Directors and China co as part of a consortium to steal Manono. This is guaranteed. Proceeding to Arbitration next June allows the Court process to run its course and deliver its verdict.
Felix may be deciding to do this so it publicly distances him from any responsibility while showing loyalty to his Ministers and their actions. When the verdict drops however, that loyalty will be lost and he will have the International verdict to prosecute those people directly responsible for the corruption and misconduct that has embarrassed his Nation. His hand will almost certainly be forced to jail all perpetrators and expel the Chinese miners from the DRC. The people will hold him to this.
The dilemna for Felix is does he wait for the verdict from the ICSID which will hold the DRC accountable for a $10B pay out. Alternatively, does he try and reach an agreement now, before Arbitration. The Arbitration verdict may determine AVZ retains the rights and entitlement to a full licence to Manono under International Law along with the payment of fines. Is the DRC willing to accept this outcome?
IMO their hand is now forced to reach an amicable settlement or risk the consequences of an international verdict and the fallout from this for many years to come.
The outcome for AVZ shareholders in the new year is looking extremely promising and we can only hope common senses prevails to reach an outcome soon.
Thanks to the AVZ Directors, Piper lawyers and Locke for the support provided to protect shareholder interests. Lets stop the corruption now, DRC!
Sorry if already posted.
FYI:
Hello AVZ's ,
Following on from the Locke Funding Announcement and AGM does anyone have an update on the following Legal Case-
Dathcom JV dispute (Zijin/Dathomir) – From the AGM this hearing was to be the following week. Jincheng disputing our pre-emptive rights/Dathomir challenge over our 15% in Dathcom.
The outcome of this case will undoubtedly put us in the box seat for the ICC and ICSID Arbitration Cases – Title for 13359 ICSID claim against DRC.
Jincheng would have exhausted all avenues to gaining a small portion of Manono. So how does the DRC propose to meet its fine obligations and the economic fallout from these Arbitration hearings.
Will the DRC show its allegiance to China sooner to access the $50B offered by the Chinese President when Felix visited China a couple of months back as part of the African nations visit. This would certainly cover a negotiated settlement for the DRC to pay out AVZ and allow the Chinese to proceed full steam ahead with its quest to obtain control and dominance over the global Lithium market and other assets in the DRC. Or does the DRC favour the side of the recent US funding offer for the Lobito project. Without doubt any commitment shown by the DRC towards China would halt this funding and put the DRC at loggerheads again with its neighbours and international community.
IMO the DRC wanting to head to Arbitration is a smoke screen for the current negotiations that are proceeding. For the DRC to proceed and wait for a verdict to come out from an International court virtually condemning them for allowing this corruption to be played out would be suicidal to attracting future Western investment and this would not look great for wanting to attract other funding from international agencies such as the World Bank. Such a decision on the world stage would most certainly keep the critical resources in the ground indefinitely. The DRC cannot afford further delays in benefitting from the sale of its critical resources. It must act now to award the Full Mining Licence or pay out AVZ. A decision has to be made early in the new year and not allow Arbitration to proceed.
Felix is aware of the International pressures he is now faced with. How much longer does he let this go on before coming up with an outcome to break the deadlock?
Choosing to proceed to Arbitration will expose the names of his DRC Ministers, Cominiere Directors and China co as part of a consortium to steal Manono. This is guaranteed. Proceeding to Arbitration next June allows the Court process to run its course and deliver its verdict.
Felix may be deciding to do this so it publicly distances him from any responsibility while showing loyalty to his Ministers and their actions. When the verdict drops however, that loyalty will be lost and he will have the International verdict to prosecute those people directly responsible for the corruption and misconduct that has embarrassed his Nation. His hand will almost certainly be forced to jail all perpetrators and expel the Chinese miners from the DRC. The people will hold him to this.
The dilemna for Felix is does he wait for the verdict from the ICSID which will hold the DRC accountable for a $10B pay out. Alternatively, does he try and reach an agreement now, before Arbitration. The Arbitration verdict may determine AVZ retains the rights and entitlement to a full licence to Manono under International Law along with the payment of fines. Is the DRC willing to accept this outcome?
IMO their hand is now forced to reach an amicable settlement or risk the consequences of an international verdict and the fallout from this for many years to come.
The outcome for AVZ shareholders in the new year is looking extremely promising and we can only hope common senses prevails to reach an outcome soon.
Thanks to the AVZ Directors, Piper lawyers and Locke for the support provided to protect shareholder interests. Lets stop the corruption now, DRC!
Will this happen before the DRC Government will highly likely be found guilty of one of the biggest acts of Corruption and Theft against a Foreign Investor in history , or after ?
If anyone else wants to contact senator Katy Gallagher, Minister for Finance and/or Jim Chalmers MP, Treasurer about the Future Fund their contact addresses are below.
senator.katy.gallagher@aph.gov.au
jim.chalmers.mp@aph.gov.au
As we are aware, Australia's Future Fund holds 16,787,107 shares in AVZ Minerals within its portfolio of investments. This investment represents 0.01% of its portfolio, and is valued at approx $AU13 million (30 June 2024). This is taxpayers' money.
The Minister for Finance and the Treasurer have joint portfolio responsibility for this fund.
I have contacted both ministers about their knowledge of the web of corruption and illegalities facing one of the Future Fund's holdings in the Democratic Republic of Corruption (DRC), and what (if any) steps have been taken to protect the Australian taxpayer from a total wipe-out of their investment.
Australia will probably have a federal election in early 2025, so now is a good time to ask these questions.
Cheers
F
senator.katy.gallagher@aph.gov.au
jim.chalmers.mp@aph.gov.au
As we are aware, Australia's Future Fund holds 16,787,107 shares in AVZ Minerals within its portfolio of investments. This investment represents 0.01% of its portfolio, and is valued at approx $AU13 million (30 June 2024). This is taxpayers' money.
The Minister for Finance and the Treasurer have joint portfolio responsibility for this fund.
I have contacted both ministers about their knowledge of the web of corruption and illegalities facing one of the Future Fund's holdings in the Democratic Republic of Corruption (DRC), and what (if any) steps have been taken to protect the Australian taxpayer from a total wipe-out of their investment.
Australia will probably have a federal election in early 2025, so now is a good time to ask these questions.
Cheers
F
Meanwhile, more than 21,000 shareholders are caught in the crossfire, uncertain if they’ll ever see their investments again. This is the kind of blow no investor deserves.
While AVZ management remains committed to a resolution and maintains they’re still fighting for their shareholders, numerous questions remain:
Questions to be asked
- Can AVZ expect to be awarded a mining licence in the near future?
- How will the ongoing legal proceedings impact AVZ’s relationship with the DRC government?
- Would a full sale of the Manono project be in shareholders’ best interest?
- Will AVZ relist?
- Will the fines imposed by international courts be paid by Cominiere?
- Will a shareholder class action against AVZ proceed?
Could someone else tag him please.
I've already been permanently banned for "advertising".
Said I'd never do it again - bit like grovelling my way out of the school cane aged 7.
Don't wanna tread on any little tootsies.
HC is actually too useful, once you get away from CB and trolls.
The court cases pile up
Lets all hope these courts cases don't turn against AVZ S H
Arbitration isn’t a quick process, and AVZ and their shareholders are quickly finding out that what many thought would be a quick process could indeed take years. With proceedings against the DRC government, Cominière, Jin Cheng and Fat Tail, it seems that everything now rests in the hands of the judges.Well i asked you cause i am permanently banned at HC and i have no intention of re entering that cesspool of a forum!
No CAPITAL letters or numerous spelling mistakes …. Dead give away. Fuck they are useless people. Can’t even bullshit well
You need to update yourself tolate . The DRC Government made a statement recently .They want all matters between the DRC Government and AVZ Minerals concerning the Manono Project to be sorted out via the International Courts/ The ICSID final Verdict . AVZ Minerals and it's Share Holder's fully support the DRC Governments wishes to resolve these matters via International Arbitration in the absence of a Negotiated Outcome .
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