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- After 2 Financial Review articles, AVZ clarifies its agreements with Marius Mihigo in the Manono lithium project

NEWSECONOMY
After 2 Financial Review articles, AVZ clarifies its agreements with Marius Mihigo in the Manono lithium project
February 10, 2023Kiki Kienge
By Kiki Kienge
In two articles published on February 8, 2023, the Australian media provided information, in particular on their collaborator, the Congolese businessman Mr Marius Mushagalusa Mihigo , that the Australian lithium giant, AVZ considers inaccurate or incomplete:
On June 1, a month after the shutdown, AVZ chief executive Nigel Ferguson authorized cash payment to Marius Mihigo, according to documents prepared for the board by DLA Piper lawyers. . Mr. Ferguson had previously offered to pay the DRC businessman an additional success bonus of US$3 million and US$2 million in AVZ shares if he helped the company obtain a mining license for the concession in which it claims a 75% stake. “ Wrote the journalist, Tom Richardson in his article of February 8, 2023.
MARIUS MIHIGO
Executive MBA, former student at CEDS Paris (France), Harvard University (USA) and University of Oxford (UK). Marius Mushagalusa Mihigo is a versatile negotiator, specialist in secret diplomacy and international relations.
The Perth company, AVZ Minerals, wanted in a press release to clarify the commitment agreements with Marius Mihigo and his team, for a collaboration in the DR Congo in the Manono lithium project. Here is the concentrate of the press release translated by our editorial staff:
AVZ hired Marius Mihigo as a strategic advisor with his team in the DRC, to:
- advise on doing business in the DRC.
- managing relationships with government and key stakeholders.
- manage security arrangements in the DRC.
- Mr. Mihigo and his team are only compensated from an initial amount of US$1 million for their services.
- reimbursement of disbursements for travel, accommodation and food (within a specified range) and other service-related costs.
- Disbursements for travel and incidental expenses shall not exceed USD 5,000 without prior approval from AVZ.
- The agreement does not provide for success fees.
- AVZ performed independent due diligence on Mr. Mihigo, before and during his engagement, which revealed no material probity issues or red flags.
- the agreement requires Mr. Mihigo and his team to comply (as the company does) with all applicable anti-corruption laws as well as the company's anti-corruption code of conduct.