AVZ Discussion 2022
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Frank
Top 20
US seeks critical mineral pacts with Japan, UK to curb China
The US government is exploring narrowly focused trade pacts on critical minerals with Japan and the UK, in addition to talks with the European Union, the latest salvo in its push to counter Chinese influence in key sectors, officials familiar with the matter said.
The US is looking to create a “critical minerals buyers club” with allies like the EU and Group of Seven, the US officials said, speaking on condition of anonymity.
The move would ensure the bloc is not reliant on China for critical minerals, particularly as the countries look to build out renewable energy pacts, the officials said.
So-called rare Earth elements and minerals including lithium and cobalt have assumed huge strategic importance because of their role in electric-vehicle technology, defense electronics and other uses.
Especially worrisome to the US and its allies is China’s geological fortune in having supplies within its borders and its moves to lock up agreements with other producers — potentially cutting off US access in the event of a crisis with Beijing.
The deals, while aimed at China, could also make the countries eligible for benefits from the Inflation Reduction Act, soothing a key irritant over industrial incentives.
The development adds Japan and the UK to the list of countries where the US is seeking critical mineral pacts.
The US had already been in talks with the EU over such a deal.
The US has long been pushing to secure supply chains of critical minerals, including through a Minerals Security Partnership that includes the EU, UK and Japan, as well as other countries such as Australia and South Korea.
That group held a meeting earlier this week to discuss mining, processing, and recycling of critical minerals with representatives of several African nations, according to the State Department.
The push is part of President Joe Biden’s effort to shift global supply chains away from China, blunting Beijing’s clout in key sectors and hedging against disruptions — like the Covid-19 pandemic — that would upend supply chains or create scarcities that may starve US or other friendly producers.
Part of the joint push is driven by a desire to make sure the US is not reliant on China for critical minerals, the officials said.
It will also mean the US and its allies have access to the inputs needed to meet emission-reductions goals, according to the officials.
Participating countries would be eligible under Section 30D of the Inflation Reduction Act, an incentive aimed at promoting new electric vehicles, officials said.
A pact that clears the way for benefits under the IRA would help sooth tensions with Europe, which has complained that the provision freezes out American partners.
Biden’s administration has responded by pledging cooperation and encouraging European allies to pass their own domestic subsidies.
“This is one of the most promising ways to go forward,” German Economy Minister Robert Habeck told Bloomberg TV in an interview Monday, referring to a possible agreement on organizing a market for critical minerals.
mining.com
Food for thought on the long and winding road to Manono Bro
Cheers
Frank
Over past 9 months we seen a few pics of zijin, Ajn etc with DRC ministers. Does a pic exist of Nigel and co in meeting’s with MoM or similar? I can’t recall there being one and for the life of me the only reason I can think why there isn’t one is because he hasn’t had a meeting with them. Really really hope I’m wrong
- Home
- 2023
- FEBRUARY
- 10
- 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.
Frank
Top 20
The vision of the Head of State is to fight poverty and reduce inequalities”
The vision of the Head of State, "is really to fight poverty, reduce inequalities. When he presented his program, the key word was to reduce poverty.
The Head of State wants to build a strong and prosperous Congo, a rich Congo", affirms, guest of the Magazine Le Débat on Top Congo FM, its spokesperson Tina Salama.
Tina Salama
"Its vision is based on 4 pillars: good governance, sustainable economic growth, united society and the man who is at the center of this vision", she specifies.
While the results on the ground, in the opinion of many, are not very perceptible, Tina Salama notes that the President of the Republic "has laid the foundations.
We have come from very far away.
We had to make reforms for the fight against poverty. 4 years later, we are in the right place.
People can see.
There are things that were never done in the past, there is evolution.
A lot of things have been done".
What about the rule of law?
"The rule of law is opposed to arbitrariness. It is a state where all citizens are equal, a state that values justice and equity," she replies.
To illustrate this, she recalls that "it is the first time that we have seen the close collaborators of the Head of State before a judge.
There is the separation of powers.
It is he who is the guarantor of the proper functioning institutions, but he cannot intervene.
He said that he was not yet very satisfied with the way justice is done in the country".
This is what prompted him to create the Sacred Union to "bring people around his vision.
That's what the Head of State wanted.
Everything else is a question organization.
The President of the Republic did not want a parallel government or parallel Parliament.
There is coordination.
It is not the jungle.
It is not enough to make a declaration to join the Sacred Union.
All those who think they adhere to the vision of the Head of State" can join the Sacred Union.
The vision of the Head of State, "is really to fight poverty, reduce inequalities. When he presented his program, the key word was to reduce poverty.
The Head of State wants to build a strong and prosperous Congo, a rich Congo", affirms, guest of the Magazine Le Débat on Top Congo FM, its spokesperson Tina Salama.
Tina Salama
"Its vision is based on 4 pillars: good governance, sustainable economic growth, united society and the man who is at the center of this vision", she specifies.
While the results on the ground, in the opinion of many, are not very perceptible, Tina Salama notes that the President of the Republic "has laid the foundations.
We have come from very far away.
We had to make reforms for the fight against poverty. 4 years later, we are in the right place.
People can see.
There are things that were never done in the past, there is evolution.
A lot of things have been done".
What about the rule of law?
"The rule of law is opposed to arbitrariness. It is a state where all citizens are equal, a state that values justice and equity," she replies.
To illustrate this, she recalls that "it is the first time that we have seen the close collaborators of the Head of State before a judge.
There is the separation of powers.
It is he who is the guarantor of the proper functioning institutions, but he cannot intervene.
He said that he was not yet very satisfied with the way justice is done in the country".
This is what prompted him to create the Sacred Union to "bring people around his vision.
That's what the Head of State wanted.
Everything else is a question organization.
The President of the Republic did not want a parallel government or parallel Parliament.
There is coordination.
It is not the jungle.
It is not enough to make a declaration to join the Sacred Union.
All those who think they adhere to the vision of the Head of State" can join the Sacred Union.
Frank
Top 20
Canadian Ivanhoe Mines seeks new investors for its copper projects
Ivanhoe Mines and its Chinese partner Zijin Mining are to invest around $3 billion in 2023 and 2024 to increase the production capacity of the Kamoa-Kakula copper complex.
Their goal is to soon make it the second largest copper mine in the world.
In the DRC, the development of the projects of the Canadian Ivanhoe Mines, in particular the Kamoa-Kakula copper complex, could soon benefit from the financial support of a major investor.
At least that's what billionaire Robert Friedland, founder and co-chairman of the company, said on the sidelines of the Mining Indaba.
According to details reported by Bloomberg, discussions are underway with sovereign investors who could take a minority stake in Kamoa-Kakula.
If the hypothesis of a sale is " extremely improbable " according to Mr. Friedland, the possible collaboration of Ivanhoe and its partners (the Congolese State and the Chinese Zijin Mining), with new shareholders can be valuable to realize the full potential of the project.
Between 2023 and 2024, for example, nearly $3 billion will be invested in Kamoa-Kakula to increase copper production, with the aim of making it the second largest copper mine in the world within a few years.
Unlike the last decade when the DRC was shunned by some Western investors, it should be noted that Ivanhoe's appeal could receive a more favorable response now, thanks to the increase in world demand for copper induced by the energetic transition.
Several experts indeed predict a shortage at the global level without massive investments in new production capacities and the DRC, by its mineral potential, is the ideal destination.
As a reminder, Kamoa-Kakula should deliver 390 to 430,000 tonnes of copper in 2023.
The complex has contributed since May 2021 to the place of the DRC as the first African copper producer.
mediacongo
Ivanhoe Mines and its Chinese partner Zijin Mining are to invest around $3 billion in 2023 and 2024 to increase the production capacity of the Kamoa-Kakula copper complex.
Their goal is to soon make it the second largest copper mine in the world.
In the DRC, the development of the projects of the Canadian Ivanhoe Mines, in particular the Kamoa-Kakula copper complex, could soon benefit from the financial support of a major investor.
At least that's what billionaire Robert Friedland, founder and co-chairman of the company, said on the sidelines of the Mining Indaba.
According to details reported by Bloomberg, discussions are underway with sovereign investors who could take a minority stake in Kamoa-Kakula.
If the hypothesis of a sale is " extremely improbable " according to Mr. Friedland, the possible collaboration of Ivanhoe and its partners (the Congolese State and the Chinese Zijin Mining), with new shareholders can be valuable to realize the full potential of the project.
Between 2023 and 2024, for example, nearly $3 billion will be invested in Kamoa-Kakula to increase copper production, with the aim of making it the second largest copper mine in the world within a few years.
Unlike the last decade when the DRC was shunned by some Western investors, it should be noted that Ivanhoe's appeal could receive a more favorable response now, thanks to the increase in world demand for copper induced by the energetic transition.
Several experts indeed predict a shortage at the global level without massive investments in new production capacities and the DRC, by its mineral potential, is the ideal destination.
As a reminder, Kamoa-Kakula should deliver 390 to 430,000 tonnes of copper in 2023.
The complex has contributed since May 2021 to the place of the DRC as the first African copper producer.
mediacongo
Samus
Top 20
The local anti AVZ media at it again.
"It is he who is the guarantor of the proper functioning institutions, but he cannot intervene."
How many more excruciating months do we have to wait to see if he's steering things in the right direction or not?
"It is he who is the guarantor of the proper functioning institutions, but he cannot intervene."How many more excruciating months do we have to wait to see if he's steering things in the right direction or not?
We really have no choice now but to sit down with all parties and negotiate. I think we pretty much refused to negotiate in the past, we are now forced to or risk losing everything. At least that’s the tactic they are using now. I for one do want this to drag on for years at the ICC. Time to talk about plan B. At this stage I am happy for AVZ to walk away with majority ownership of the project and get construction underway and start mining.
MoneyBags1348
Top 20
Samus
Top 20
So in other words we need to eat shit then bend over and pay money to cop it up the ass multiple times and walk away a significant part of the project stolen.
Then we'll have to trust that the shenanigans won't continue with the untrustworthy and corrupt partnership that we're forced to endure.
Let us hope that things might be moving in a little bit better direction than that under the surface.
I don't hold out much hope for this either but there is still a chance. We haven't really seen FT's ultimate card yet.
Not sure that Felix actually has an ultimate card to play. If he backs AVZ via cabinet reshuffle and hiring and firing in the various govt depts then he will lose the support of the relative ministers and their constituents and in 9 months he is gone. If he shafts AVZ via no action on all the corrupt bullshit that plagues the DRC then he will be torn to shreds at the upcoming election by opposition as being seen to be taking no action on the chaos and corruption which was part of his original election mandate. So once again in 9 months he is outSo in other words we need to eat shit then bend over and pay money to cop it up the ass multiple times and walk away a significant part of the project stolen.
Then we'll have to trust that the shenanigans won't continue with the untrustworthy and corrupt partnership that we're forced to endure.
Let us hope that things might be moving in a little bit better direction than that under the surface.
I don't hold out much hope for this either but there is still a chance. We haven't really seen FT's ultimate card yet.
As per the MoM and decree cancellation the only way forward for Felix is some sort of compromise i think. Indeed he is backed in to a corner and treading a fine line between success and failure. When it comes right down to it AVZ Zinjin and Cath are the only ones actually interested in taking this to mining. All these other pricks...Cong , Klaus, Zoe Kabila, MMCS, Dathomir, Guy Luando etc etc couldnt give a fuck about mining and trying to improve the lot of the people of the DRC people . They interested in 1 thing only MONEY full stop
Compromise through negotiation seems the way this will move forward. Felix needs to keep as many people as he can happy but especially needs to get this project up and running soon or he is screwed. He sure as shit is not gunna want to get in to a 2 year 10 billion $ court battle by shafting AVZ so iam confident we will acheive an outcome ( compromised) soon. Yes AVZ has the moral and legal high ground but as has been shown that doesnt mean shit there in the DRC. Better 51% of a hugely profitable mine for many years to come than 75 % of sweet fuck all
Carlos Danger
Top 20
Here's my guess as to what the DRC government has planned for ManonoSo in other words we need to eat shit then bend over and pay money to cop it up the ass multiple times and walk away a significant part of the project stolen.
Then we'll have to trust that the shenanigans won't continue with the untrustworthy and corrupt partnership that we're forced to endure.
Let us hope that things might be moving in a little bit better direction than that under the surface.
I don't hold out much hope for this either but there is still a chance. We haven't really seen FT's ultimate card yet.
The South
AVZ 60% / CATH 24% / DRC GOV 16%
The North
DRC GOV 60% / AJN 40%
DRC government will use their portion of the money earned from RD to fund their obligations for mining CDL. This will allow them to control half the resource long term to feed their battery plants, despite the mica concerns. If AVZ don't like this arrangement then we can sell our 60% or spend years at the ICC imo
If something like this is on the table it would put Nigel in a very tough spot for negotiations considering he decided to keep hold of his AJN shares
The North
DRC GOV 60% / AJN 40%
If this was the case why did the MoM cancel the split?
Carlos Danger
Top 20
To make it easier to give it to someone else with a new decree seizing the north part of the tenement. The MoM didn't overturn the partition on the fact that it wasn't in the mining code. She cited Cominiere's hurt feelings and the 'continuing tensions' between Dathcom shareholders the partial waiver of PE13359 has caused.
Reads to me that she is setting a path to give it to someone else, given the need and urgency, because Dathcom were causing delays on that part of the project. As I said yesterday this would not hold up at the ICC but the DRC government have the carrot of 60% of RD to dangle in front of the AVZ bod. But if they accept it's bye bye Nigel imo
Why bye bye Nigel if we accept 60% ? He will need to flick AJN .
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The Fox
Regular
Hey all,
I don’t post too often here as I don’t know what to believe anymore but I’m grateful for ever single post that gathers information here, good or bad.
My only focus right now is thinking that there has to be something I could be doing physically to improve this situation rather than getting depressed, winging and complaining.
Can we gather signatures as a whole group to send to the government to ask for help? I don’t have any connections (I’m you’re average stay at home mum) but surely someone here does?
I just feel we have to do something. All our money is going down the drain and surely we can do something to fight for this rather that sitting waiting?
I don’t know but this shit storm is getting worse by the day.
I don’t post too often here as I don’t know what to believe anymore but I’m grateful for ever single post that gathers information here, good or bad.
My only focus right now is thinking that there has to be something I could be doing physically to improve this situation rather than getting depressed, winging and complaining.
Can we gather signatures as a whole group to send to the government to ask for help? I don’t have any connections (I’m you’re average stay at home mum) but surely someone here does?
I just feel we have to do something. All our money is going down the drain and surely we can do something to fight for this rather that sitting waiting?
I don’t know but this shit storm is getting worse by the day.
BRICK
Regular
AVZ reacts to two decrees from the DRC Ministry of Mines which notably revoke the Manono license - Copperbelt Katanga Mining
The Manono lithium project is becoming like a Novellas television series, every day we are witnessing a new enigma, which in reality only delays the start of
copperbeltkatangamining.com
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