AVZ Discussion 2022
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Xerof
Have a Cigar 1975
USD6.2B
bloke383
Regular
Holey moley! BATTLE STATIONS
KoBold Metals Co., backed by billionaires Bill Gates and Jeff Bezos, has told the government of the Democratic Republic of Congo it wants to develop one of the world’s biggest hard rock lithium deposits.
It’s the first major offer by a large US mining company to invest in the central African nation amid early-stage conversations about a potential minerals and security partnership between the two countries.
KoBold, which uses artificial intelligence to explore for materials key to the energy transition, has proposed taking over a sought-after mining license. It also aims to resolve a long-drawn dispute involving Australia’s AVZ Minerals Ltd., China’s Zijin Mining Group Co. and the government, according to a letter seen by Bloomberg News.
The spat has held up investment in the Roche Dure resource which could become a major producer of the battery metal.
The deposit “has the potential to become a large-scale, long-lived lithium mine,” KoBold Chief Legal Officer Sandy Alexander wrote in a letter to Congo President Felix Tshisekedi’s chief of staff on Jan. 21. The company “would welcome the opportunity to develop the asset,” he said.
KoBold has more than 70 exploration projects around the world and is developing the Mingomba copper mine in neighboring Zambia, it said in the letter.
Read more: Congo Courts Trump for Strategic Minerals Tie-Up as War Looms
The offer came shortly before Tshisekedi proposed a minerals-for-security deal with US President Donald Trump’s administration. Congo’s government is struggling to contain a Rwanda-backed rebellion in its mineral-rich eastern provinces.
Read more: Rwanda-Backed Rebels Expand Control of Congo Despite Ceasefire
Zijin intends to open Congo’s first lithium mine in early 2026, next to the area targeted by KoBold. Even though lithium prices have tumbled more than 80% since a peak in 2022, Chinese firms have been ramping up output across Africa, locking down feedstock for refineries at home in anticipation of soaring future demand.
https://archive.is/o/ksIh3/https://www.bloomberg.com/subscriptions
AVZ was close to breaking ground on the project when Congo canceled its rights in 2023 and split the permit, handing one part to Zijin. KoBold’s proposal could settle the multiple arbitration cases filed in the aftermath, unlocking one of the world’s richest untapped sources of lithium, a crucial material used in electric-vehicle batteries. The Australian firm is trying to recover the entire exploration license.
KoBold said that to advance the plan AVZ would need to receive “appropriate compensation” and agree to transfer all its interests in Congo. Once all disputes are resolved, Zijin would keep the northern section of the deposit, and the US company would develop the southern portion.
KoBold also requested the Congolese government be the minority shareholder in any joint venture rather than state-owned Cominiere, AVZ’s partner before the relationship soured.
AVZ Chief Executive Officer Nigel Ferguson and one of the company’s external lawyers were copied on the letter addressed to Anthony Nkinzo, who serves as Tshisekedi’s chief of staff.
KoBold declined to comment but confirmed it sent the letter. AVZ declined to comment, while Zijin and Nkinzo did not respond to messages requesting comment.
Any takeover by KoBold would have to address a separate deal AVZ has with China’s Suzhou CATH Energy Technologies, which is co-owned by the world’s biggest EV battery maker and is helping fund the Australian firm during the arbitration proceedings.
Michael Bloomberg, the majority owner of Bloomberg News’s parent Bloomberg LP, is an investor in Gates’ Breakthrough Energy, which holds a stake in KoBold, according to the company’s website.
Holey moley! BATTLE STATIONS
KoBold Metals Co., backed by billionaires Bill Gates and Jeff Bezos, has told the government of the Democratic Republic of Congo it wants to develop one of the world’s biggest hard rock lithium deposits.
It’s the first major offer by a large US mining company to invest in the central African nation amid early-stage conversations about a potential minerals and security partnership between the two countries.
KoBold, which uses artificial intelligence to explore for materials key to the energy transition, has proposed taking over a sought-after mining license. It also aims to resolve a long-drawn dispute involving Australia’s AVZ Minerals Ltd., China’s Zijin Mining Group Co. and the government, according to a letter seen by Bloomberg News.
The spat has held up investment in the Roche Dure resource which could become a major producer of the battery metal.
The deposit “has the potential to become a large-scale, long-lived lithium mine,” KoBold Chief Legal Officer Sandy Alexander wrote in a letter to Congo President Felix Tshisekedi’s chief of staff on Jan. 21. The company “would welcome the opportunity to develop the asset,” he said.
KoBold has more than 70 exploration projects around the world and is developing the Mingomba copper mine in neighboring Zambia, it said in the letter.
Read more: Congo Courts Trump for Strategic Minerals Tie-Up as War Looms
The offer came shortly before Tshisekedi proposed a minerals-for-security deal with US President Donald Trump’s administration. Congo’s government is struggling to contain a Rwanda-backed rebellion in its mineral-rich eastern provinces.
Read more: Rwanda-Backed Rebels Expand Control of Congo Despite Ceasefire
Zijin intends to open Congo’s first lithium mine in early 2026, next to the area targeted by KoBold. Even though lithium prices have tumbled more than 80% since a peak in 2022, Chinese firms have been ramping up output across Africa, locking down feedstock for refineries at home in anticipation of soaring future demand.
https://archive.is/o/ksIh3/https://www.bloomberg.com/subscriptions
AVZ was close to breaking ground on the project when Congo canceled its rights in 2023 and split the permit, handing one part to Zijin. KoBold’s proposal could settle the multiple arbitration cases filed in the aftermath, unlocking one of the world’s richest untapped sources of lithium, a crucial material used in electric-vehicle batteries. The Australian firm is trying to recover the entire exploration license.
KoBold said that to advance the plan AVZ would need to receive “appropriate compensation” and agree to transfer all its interests in Congo. Once all disputes are resolved, Zijin would keep the northern section of the deposit, and the US company would develop the southern portion.
KoBold also requested the Congolese government be the minority shareholder in any joint venture rather than state-owned Cominiere, AVZ’s partner before the relationship soured.
AVZ Chief Executive Officer Nigel Ferguson and one of the company’s external lawyers were copied on the letter addressed to Anthony Nkinzo, who serves as Tshisekedi’s chief of staff.
KoBold declined to comment but confirmed it sent the letter. AVZ declined to comment, while Zijin and Nkinzo did not respond to messages requesting comment.
Any takeover by KoBold would have to address a separate deal AVZ has with China’s Suzhou CATH Energy Technologies, which is co-owned by the world’s biggest EV battery maker and is helping fund the Australian firm during the arbitration proceedings.
Michael Bloomberg, the majority owner of Bloomberg News’s parent Bloomberg LP, is an investor in Gates’ Breakthrough Energy, which holds a stake in KoBold, according to the company’s website.
KoBold said that to advance the plan AVZ would need to receive “appropriate compensation” and agree to transfer all its interests in Congo. Once all disputes are resolved, Zijin would keep the northern section of the deposit, and the US company would develop the southern portion.
Zijin can't be allowed to be the biggest winner in this plan and end up with the north for almost free .The DRC Gov can't compensate us for the north as they are broke . For this deal to advance , and for Felix to save his skin , maybe he'll need to pressure Zijin into paying us a fair price for what they stole from us . Imagine them actually having to pay overs (just kidding) considering the hundreds of millions they have spent so far in bribes & rehab work etc . I wonder if they will be wanting a refund on all the sancks they paid for ... hello Celeste ...
With that calibre of backers , KoBold better not insult Nigel with a low ball offer of compensation for the south (and all that Tin ) . With the time and effort our BoD and DLA Piper have invested getting us to this point , I can't see Nigel buckling now . We still have the favourable results at the ICC , & ICSID as our backup .
This could be the ideal outcome . To be paid a suitable price for the entire tenement & leave the DRC completely . Holey smokes . Yes I originally wanted to see this through to mining and processing , but not after witnessing the amount of corruption at EVERY level of the DRC government over the last few years
Once this is over and dollars are in my bank account , I'll be first in line to contribute to a fund to have Shane E , the MMGA scum , Tommy R , Klaus and his daughter all held accountable in their endeavours to undermine AVZ . Hopefully there is another fund that can be setup to somehow say thank you to our friends in the DRC who have fought for us all the way , Franck , Kiki , Jonnno and others .
Hoping for a fantastic , timely outcome for all genuine AVZ holders
Xerof
Have a Cigar 1975
Xerof
Have a Cigar 1975
Speaking of momentum...... Trafigura says NO to china bid for Chemaf, will wait for something from the west now I guess
https://x.com/mjkcongo/status/1903128441320350058
https://x.com/mjkcongo/status/1903128441320350058
Azzler
Top 20
This was so satisfying.
It was very deliberate, it didn't need to be in the article, but they put it in.
I'd say whoever wrote it is as disgusted by cominiere as we are.
Mute22
Regular
Gates-Backed Explorer Makes Play for Congo Lithium Deposit
KoBold Metals Co., backed by billionaires Bill Gates and Jeff Bezos, has told the government of the Democratic Republic of Congo it wants to develop one of the worl…
Criminal scum, fuck off already.
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So good to have some exciting news items coming through. The mind boggles what conversations are taking place.
I did feel a bit deflated though when Jen’s mentioned he’d be happy with a $1ps takeover.
I really didn’t stick it through the last few years for that… if that’s the amount would rather see how the courts play it out.
While I got in early, I only had a small parcel. And I topped up alllll the way along as I was able to save money to buy more (I believed in this so saved hard for it).
I’m not a big holder compared to most here. But I’m kind of hoping for $3 which would give me a more comfortable financial life (the mortgage rates are a fun-killer at the moment!)
I did feel a bit deflated though when Jen’s mentioned he’d be happy with a $1ps takeover.
I really didn’t stick it through the last few years for that… if that’s the amount would rather see how the courts play it out.
While I got in early, I only had a small parcel. And I topped up alllll the way along as I was able to save money to buy more (I believed in this so saved hard for it).
I’m not a big holder compared to most here. But I’m kind of hoping for $3 which would give me a more comfortable financial life (the mortgage rates are a fun-killer at the moment!)
(Updates with comment from Zijin.):Gates-Backed Explorer Makes Play for Congo Lithium Deposit
KoBold Metals Co., backed by billionaires Bill Gates and Jeff Bezos, has told the government of the Democratic Republic of Congo it wants to develop one of the worl…financialpost.com
Criminal scum, fuck off already.
While it may seem unpalatable to allow Zijin to retain CDL, even with appropriate compensation to AZV, the alternative is probably equally unpalatable...more long, complex and costly arbitration and negotiations. In the meantime Zijin continues to develop CDL unrestrained. Even if AVZ wins all its ICC and ICSID arbitrations, it could take years to get even a dollar in compensation. I'm not sure that benefits anyone.
Zijin is well and truly entrenched in CDL, and has publicly stated that it intends shipping lithium concentrate in 2026. The DRC govt is unlikely to reverse the conga-line of grubby transactions and kick out Zijin because Zijin has paid (albeit corruptly) for the rights to develop CDL and has a truckload of dirt on everyone from the floor-sweeper all the way to King Felix-the-Corrupt himself.
Zijin is the world's fourth largest miner. It has deep pockets, and can pay adequate compensation to AVZ.
Regardless of how this transpires, Kibeya should be prosecuted.
Cheers
F
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Yes noticed it also.
One way for Felix to save face and keep his Rolexs.
The North appears to be gone and they also save face .
The unknown is Trump and what conditions he wants .
rocknrolla
Regular
Fuck $1
I want bank. When you read cons old vals on X $10B is da money
I want bank. When you read cons old vals on X $10B is da money
Stockinvesting
Regular
Would anyone have access to this Australian article please. I'd love to read it but can't download.
Cheers. Go AVZ.....
Mute22
Regular
Use this website: https://www.removepaywall.com/
David Krappenschitz
Regular
I think that $6.2B USD figure is far more appropriate. $1 sounds good if you own 10+ million shares but for fair value to shareholders and for what the project is worth a sale needs to be a lot more than that.
Scoota30
Regular
Yep, 6.2B USD is the floor price for fair compensation of the project. Whether or not we get some trauma compensation is yet to be seen....
I think that $6.2B USD figure is far more appropriate. $1 sounds good if you own 10+ million shares but for fair value to shareholders and for what the project is worth a sale needs to be a lot more than that.
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