Someone from the europe presentations mentioned the BFS will be based on 4.5 mtpa initial start up
AVZ Discussion 2022
- Thread starter GazDix
- Start date
Xerof
Biding my Time 1971
I've listened to the german interview a few times now. What I get out of it is 75% is in the bag. Zijin deal is alluded to as a distraction. But of real interest was when he says the DRC will end up with 10 or 15%. So I'm wondering whether the final partnership structure will be DRC 15%, CATH 24%, AVZ 61%, and do the DRC pay costs on that extra 5%, or is there a quid pro quo struck around the price AVZ pay for the extra 10% (if it's not going to be the full 15%)
I would be very happy with that - what we don't need are 2 chinese partners. Once again I express my displeasure at even having to talk about Zijin.
I would be very happy with that - what we don't need are 2 chinese partners. Once again I express my displeasure at even having to talk about Zijin.
Winenut
Go AVZ!
Looks like AZZVF in the US opened lower overnight but closed on an intraday high (although this was still an overall drop from the previous days close of about 3.5%)
Germany closed down about 10% which is a bit disappointing
Hopefully the DRC and ol' Nige can get crackin' with tidying up some of the legal issues and then bring on a few more numbers like the BFS and FID in quick fashion
Germany closed down about 10% which is a bit disappointing
Hopefully the DRC and ol' Nige can get crackin' with tidying up some of the legal issues and then bring on a few more numbers like the BFS and FID in quick fashion
Attachments
Frank
Top 20
Looks like the Germans and the Saudi's are getting serious atm by Betting $Billions to make electric vehicles and batteries, as
The company also announced a partnership deal with Spain’s largest power utility Iberdrola, which will set up a solar park to partly power the battery plant to be built in the municipality of Sagunto near Valencia.
Iberdrola will invest 500 million euros in the electrification plan, its Chief Executive Officer Ignacio Sanchez Galan told reporters, without giving further details.
Volkswagen said in March it would invest 7 billion euros to build a battery plant and produce electric vehicles at its two car factories in Spain, but CEO Herbert Diess said that figure had been raised to 10 billion with new partners on board.
“We will electrify the second-largest car producer in Europe (Spain) with a new giga-factory of batteries and the production of electric cars in two plants,” Diess told an event in Sagunto, adding the plan was to create “a full ecosystem of suppliers from lithium extraction to the assembly of batteries”.
Diess speaking on a visit with Spanish Prime Minister Pedro Sanchez to the site where the factory will be built.
The German carmaker aims to start building the 40-gigawatt-hour (GWh) plant in the first quarter of 2023, with serial production to start by 2026.
By 2030, the site will employ more than 3,000 staff, Volkswagen said.
Spain, Europe’s largest carmaker after Germany, last month launched a bidding process for about 3 billion euros in loans and grants to promote electric vehicle (EV) production. Volkswagen and its Spanish unit SEAT have presented a bid.
Winners of the PERTE funds, as the programme that consists mostly of European Union pandemic relief funds is known, will be chosen this year.
The company will invest 3 billion euros in the plant in Sagunto, another 3 billion euros in four SEAT factories, including the Martorell plant near Barcelona, and 1 billion in Pamplona, it said.
www.mining.com/category/battery-metals/
The ministry’s target would fund nine mining projects for midstream minerals and metals, said Industry and Mineral Resources Minister Bandar al-Khorayef, according to a statement.
The kingdom is seeking to diversify its economy away from oil by pouring hundreds of billions of dollars into a plan called Vision 2030 initiated by de facto ruler Crown Prince Mohammed bin Salman. Mining is one of the sectors that has been identified for expansion.
The nine projects include a $4 billion steel plate mill complex for the shipbuilding, oil and gas, construction and defence sectors and a “green” flat steel complex that will supply the automotive, food packaging, machinery and equipment, and other industrial sectors.
Both projects are already underway, as is a $2 billion EV battery metals plant.
Last month the Saudi government signed an agreement to purchase between 50,000 and 100,000 EVs over 10 years from Lucid Group Inc, which Saudi sovereign fund PIF owns a majority stake in.
The minister said the projects would create over 14,000 jobs and added the ministry is now processing 145 exploration license applications from foreign companies.
“These targeted investments represent an important ‘down payment’ in our efforts to move beyond exploration and extraction and into the creation of integrated value chains, a central focus of our overall mining strategy,” al-Khorayef said in the statement.
“The investments will continue to position the Kingdom as a mining production and logistics hub for a region that stretches from Africa to Asia, while also supporting the transformation of our mining sector so it can achieve its potential.”
www.mining.com/category/battery-metals/
Food for thought on the Road to Mining Manono
Frank
Volkswagen boosts electric car investment in Spain to $10.6 billion
German carmaker Volkswagen AG and partners will invest 10 billion euros ($10.6 billion) to make electric vehicles and batteries in Spain, its chief executive said on Thursday, 3 billion euros more than it had previously committed.
The company also announced a partnership deal with Spain’s largest power utility Iberdrola, which will set up a solar park to partly power the battery plant to be built in the municipality of Sagunto near Valencia.
Iberdrola will invest 500 million euros in the electrification plan, its Chief Executive Officer Ignacio Sanchez Galan told reporters, without giving further details.
Volkswagen said in March it would invest 7 billion euros to build a battery plant and produce electric vehicles at its two car factories in Spain, but CEO Herbert Diess said that figure had been raised to 10 billion with new partners on board.
“We will electrify the second-largest car producer in Europe (Spain) with a new giga-factory of batteries and the production of electric cars in two plants,” Diess told an event in Sagunto, adding the plan was to create “a full ecosystem of suppliers from lithium extraction to the assembly of batteries”.
Diess speaking on a visit with Spanish Prime Minister Pedro Sanchez to the site where the factory will be built.
The German carmaker aims to start building the 40-gigawatt-hour (GWh) plant in the first quarter of 2023, with serial production to start by 2026.
By 2030, the site will employ more than 3,000 staff, Volkswagen said.
Spain, Europe’s largest carmaker after Germany, last month launched a bidding process for about 3 billion euros in loans and grants to promote electric vehicle (EV) production. Volkswagen and its Spanish unit SEAT have presented a bid.
Winners of the PERTE funds, as the programme that consists mostly of European Union pandemic relief funds is known, will be chosen this year.
The company will invest 3 billion euros in the plant in Sagunto, another 3 billion euros in four SEAT factories, including the Martorell plant near Barcelona, and 1 billion in Pamplona, it said.
www.mining.com/category/battery-metals/
Saudi Arabia announces $6bn investments in steel complex, EV metals plant
Saudi Arabia’s Ministry of Industry and Mineral Resources said it has secured $6 billion for a steel plate mill complex and electric vehicle battery metals plant as part of plans to lure $32 billion of investment into the mining sector.
The ministry’s target would fund nine mining projects for midstream minerals and metals, said Industry and Mineral Resources Minister Bandar al-Khorayef, according to a statement.
The kingdom is seeking to diversify its economy away from oil by pouring hundreds of billions of dollars into a plan called Vision 2030 initiated by de facto ruler Crown Prince Mohammed bin Salman. Mining is one of the sectors that has been identified for expansion.
The nine projects include a $4 billion steel plate mill complex for the shipbuilding, oil and gas, construction and defence sectors and a “green” flat steel complex that will supply the automotive, food packaging, machinery and equipment, and other industrial sectors.
Both projects are already underway, as is a $2 billion EV battery metals plant.
Last month the Saudi government signed an agreement to purchase between 50,000 and 100,000 EVs over 10 years from Lucid Group Inc, which Saudi sovereign fund PIF owns a majority stake in.
The minister said the projects would create over 14,000 jobs and added the ministry is now processing 145 exploration license applications from foreign companies.
“These targeted investments represent an important ‘down payment’ in our efforts to move beyond exploration and extraction and into the creation of integrated value chains, a central focus of our overall mining strategy,” al-Khorayef said in the statement.
“The investments will continue to position the Kingdom as a mining production and logistics hub for a region that stretches from Africa to Asia, while also supporting the transformation of our mining sector so it can achieve its potential.”
www.mining.com/category/battery-metals/
Food for thought on the Road to Mining Manono
Frank
I think that is a lovely balance............AVZ 61% Cath 24% DRC 15%
If indeed DRC and AVZ have very good relations , which i dont doubt, then the Chinese entities havnt got a hope of controlling the narrative which has been my only concern from day 1.
Bring on the ML and the corresponding updated BFS officially and it doesnt matter what the MACRO environment does...........it will be explosive.
imo
Looks like the Germans and the Saudi's are getting serious atm by Betting $Billions to make electric vehicles and batteries, as
Volkswagen boosts electric car investment in Spain to $10.6 billion
German carmaker Volkswagen AG and partners will invest 10 billion euros ($10.6 billion) to make electric vehicles and batteries in Spain, its chief executive said on Thursday, 3 billion euros more than it had previously committed.
The company also announced a partnership deal with Spain’s largest power utility Iberdrola, which will set up a solar park to partly power the battery plant to be built in the municipality of Sagunto near Valencia.
Iberdrola will invest 500 million euros in the electrification plan, its Chief Executive Officer Ignacio Sanchez Galan told reporters, without giving further details.
Volkswagen said in March it would invest 7 billion euros to build a battery plant and produce electric vehicles at its two car factories in Spain, but CEO Herbert Diess said that figure had been raised to 10 billion with new partners on board.
“We will electrify the second-largest car producer in Europe (Spain) with a new giga-factory of batteries and the production of electric cars in two plants,” Diess told an event in Sagunto, adding the plan was to create “a full ecosystem of suppliers from lithium extraction to the assembly of batteries”.
Diess speaking on a visit with Spanish Prime Minister Pedro Sanchez to the site where the factory will be built.
The German carmaker aims to start building the 40-gigawatt-hour (GWh) plant in the first quarter of 2023, with serial production to start by 2026.
By 2030, the site will employ more than 3,000 staff, Volkswagen said.
Spain, Europe’s largest carmaker after Germany, last month launched a bidding process for about 3 billion euros in loans and grants to promote electric vehicle (EV) production. Volkswagen and its Spanish unit SEAT have presented a bid.
Winners of the PERTE funds, as the programme that consists mostly of European Union pandemic relief funds is known, will be chosen this year.
The company will invest 3 billion euros in the plant in Sagunto, another 3 billion euros in four SEAT factories, including the Martorell plant near Barcelona, and 1 billion in Pamplona, it said.
www.mining.com/category/battery-metals/
Saudi Arabia announces $6bn investments in steel complex, EV metals plant
Saudi Arabia’s Ministry of Industry and Mineral Resources said it has secured $6 billion for a steel plate mill complex and electric vehicle battery metals plant as part of plans to lure $32 billion of investment into the mining sector.
The ministry’s target would fund nine mining projects for midstream minerals and metals, said Industry and Mineral Resources Minister Bandar al-Khorayef, according to a statement.
The kingdom is seeking to diversify its economy away from oil by pouring hundreds of billions of dollars into a plan called Vision 2030 initiated by de facto ruler Crown Prince Mohammed bin Salman. Mining is one of the sectors that has been identified for expansion.
The nine projects include a $4 billion steel plate mill complex for the shipbuilding, oil and gas, construction and defence sectors and a “green” flat steel complex that will supply the automotive, food packaging, machinery and equipment, and other industrial sectors.
Both projects are already underway, as is a $2 billion EV battery metals plant.
Last month the Saudi government signed an agreement to purchase between 50,000 and 100,000 EVs over 10 years from Lucid Group Inc, which Saudi sovereign fund PIF owns a majority stake in.
The minister said the projects would create over 14,000 jobs and added the ministry is now processing 145 exploration license applications from foreign companies.
“These targeted investments represent an important ‘down payment’ in our efforts to move beyond exploration and extraction and into the creation of integrated value chains, a central focus of our overall mining strategy,” al-Khorayef said in the statement.
“The investments will continue to position the Kingdom as a mining production and logistics hub for a region that stretches from Africa to Asia, while also supporting the transformation of our mining sector so it can achieve its potential.”
www.mining.com/category/battery-metals/
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Food for thought on the Road to Mining Manono
Frank
Welcome Scoota to TSE !Anybody know what the chances of us doing a FID and making zijin pay up 15% capital expenditure for their illegal ownership before they lose it? Would be nice...
Sammy_da_Smile
Regular
Hmm Interesting Article.............. I am not sure the validity of this at all.
I really don't understand how they think they have a case? If this is a legit article released by Zijin, then they completely dis the statements made by Nigel in the announcement and in the Axino youtube video. It will be interesting how this plays out. They are definately playing dirty the bastards.
----------------------------------------------------------
Source - https://www.sohu.com/a/544607618_166874
Recently, Dr. Nsamba, the Minister of Mines of the Democratic Republic of the Congo, is about to sign a ministerial decree granting the Mining License of the Manono Lithium Mine in the Democratic Republic of the Congo to Dathcom Mining Company. Zijin Mining acquired a 15% stake in the Manono Lithium Mine by acquiring an equity interest in the Democratic Republic of the Congo (DRC) National Mining Development Corporation (COMINIERE).
The Manono lithium mine in the Democratic Republic of the Congo (DRC) is one of the world's largest uncover-ready-to-open-develop lithium LCT (lithium, cesium, tantalum) pegmatite deposits, and the JORC report, updated in July 2021, shows that the total resource volume reached 401 million tons, with an average grade of 1.63% lithium oxide, equivalent to 16.32 million tons of lithium carbonate (LCE) equivalent.
The Manono Lithium Mine is 100% owned by Dr. Dathcom, a company in the Democratic Republic of the Congo. Dathcom is a joint venture established in 2016, and after the signing of a number of supplementary agreements, in 2017 AVZ International Australia, the Democratic Republic of the Congo (COMINIERE) and Dathomir Mining Resources SARL held 60%, 25% and 15% of the shares respectively.
Since 2014, Zijin Mining has invested in the world-class Kamoa copper mine project and the Kolwezi copper and cobalt project, cement and limestone industry extension project in the Dr. Republic of the Congo (DRC), which has played an important role in increasing income and poverty alleviation in the DRC (DRC), and has been highly recognized by the DRC government and local communities. In view of Zijin Mining's outstanding performance in the construction and operation of the Dr. Republic of the Congo (DRC) project, the DRC state-owned mining company has stepped up its cooperation with Zijin Mining, and through negotiations from July to September 2021, the state-owned enterprise COMEIERE agreed to transfer its 15% equity interest in Dathcom and sign an agreement, so that Jincheng Mining, a subsidiary of Zijin Mining, obtained a 15% interest in the Manono lithium mine project; at the same time, the two parties established a joint venture to establish Catamba Mining Company. Jointly developed two greenfield exploration and mining rights of PE12453 and PE13427 outside the Manono lithium mine.
Zijin Mining's investment representative said that the acquisition of a 15% interest in Zijin Mining Manono Lithium Mine can be described as a twist and turn. In September 2021, under the premise of the approval of the Ministry of State-owned Assets Supervision and Administration of the Democratic Republic of the Congo (DRC), COMINIERE signed the Equity Transfer Agreement with Zijin Mining under the condition of complying with the provisions of the pre-emptive right, and Jincheng Mining, a subsidiary of Zijin Mining, acquired its 15% equity interest in the Manono lithium mine project. The transaction was blocked by AVZ, the other party refused to convene a board of directors, shareholders' meeting, and twice filed a lawsuit with the court, forcing the transaction to move forward to judicial proceedings; in November 2021, the Commercial Court of Ruben and Brazil of the Democratic Republic of the Congo (DRC) rejected AVZ's application and presided over a general meeting of shareholders to approve the transfer of 15% of the equity of JINCHENG MINING, jincheng Mining became a legal shareholder holding 15% of the equity of Dathcom, and completed the relevant commercial registration and change of movable property registration number (RCCM). Since then, AVZ has further objected and obstructed through multiple channels, and in January 2022, the Commercial Court of Ruben Brazil once again rejected AVZ's claim to revoke the relevant shareholders' resolution and the changed RCCM.
The relevant person in charge of Zijin Mining said that Zijin Mining, as a responsible mining company, has a successful and rich experience in operation and management in the Democratic Republic of the Congo (DRC) in Africa, and the addition of Zijin Mining is undoubtedly helpful to accelerate the development of Manono lithium mine, and hopes that all shareholders will strengthen communication and cooperation, abandon meaningless disputes, accelerate project construction, and make due contributions to the economic and social development of the DRC (DRC) and the value improvement of investors.
IN RESPONSE TO THE RECENT ANNOUNCEMENT OF AVZ COMPANY THAT JINCHENG MINING'S TRANSFER OF SYNERGE EQUITY WAS INVALID, THE INVESTMENT REPRESENTATIVE OF ZIJIN MINING REFUTED THAT ZIJIN MINING HAD FULFILLED THE CORRESPONDING PROCEDURES IN STRICT ACCORDANCE WITH THE PROVISIONS OF THE COMPANY'S ARTICLES OF ASSOCIATION IN THE PROCESS OF EQUITY TRANSFER, AND ACTIVELY COMPLIED WITH JUDICIAL PROCEDURES UNDER THE PREMISE OF THE OTHER PARTY'S OBSTRUCTION AND SOLVED THE PROBLEM THROUGH LITIGATION. IN THE FUTURE, THE COMPANY WILL ACTIVELY SAFEGUARD ITS OWN RIGHTS AND INTERESTS AND USE LITIGATION, ARBITRATION AND OTHER MEANS TO SOLVE FOLLOW-UP PROBLEMS.
It is reported that the transfer of 15% of the shares of Dathomir and AVZ company in Dathomir company due to major flaws in the original transaction process, after the application of Dathomir company (Dathomir), the court ruled that the transaction has been terminated, and Dathomir company (Dathomir) still legally holds 15% of the shares of Dathcom.
COMINIERE said that the transfer of 15% of the shares of Dathcom between Zijin Mining and COMINIERE is reasonable, legal and compliant, and Zijin Mining is the legal shareholder holding 15% of the shares of Dathcom; COMINIERE still holds 10% of the shares of Dathcom after the completion of the transfer of shares with Zijin Mining. AVZ's transfer of 24% of The shares of Dathcom is subject to legal formalities, and if the transfer is successful, AVZ's actual shareholding in Dathcom will drop to 36%, and there is no absolute control.
----------------------------------------------------------
Highlighted red, it is a fake article as that 24% goes to CATH not Dathcom? They cant even understand the article they are referencing as it directly states that?? haha
I really don't understand how they think they have a case? If this is a legit article released by Zijin, then they completely dis the statements made by Nigel in the announcement and in the Axino youtube video. It will be interesting how this plays out. They are definately playing dirty the bastards.
----------------------------------------------------------
Source - https://www.sohu.com/a/544607618_166874
Dr. Republic of the Congo (DRC) world-class Manono lithium mine development is imminent Zijin Mining holds 15% of the shares
2022-05-07
Recently, Dr. Nsamba, the Minister of Mines of the Democratic Republic of the Congo, is about to sign a ministerial decree granting the Mining License of the Manono Lithium Mine in the Democratic Republic of the Congo to Dathcom Mining Company. Zijin Mining acquired a 15% stake in the Manono Lithium Mine by acquiring an equity interest in the Democratic Republic of the Congo (DRC) National Mining Development Corporation (COMINIERE).
The Manono lithium mine in the Democratic Republic of the Congo (DRC) is one of the world's largest uncover-ready-to-open-develop lithium LCT (lithium, cesium, tantalum) pegmatite deposits, and the JORC report, updated in July 2021, shows that the total resource volume reached 401 million tons, with an average grade of 1.63% lithium oxide, equivalent to 16.32 million tons of lithium carbonate (LCE) equivalent.
The Manono Lithium Mine is 100% owned by Dr. Dathcom, a company in the Democratic Republic of the Congo. Dathcom is a joint venture established in 2016, and after the signing of a number of supplementary agreements, in 2017 AVZ International Australia, the Democratic Republic of the Congo (COMINIERE) and Dathomir Mining Resources SARL held 60%, 25% and 15% of the shares respectively.
Since 2014, Zijin Mining has invested in the world-class Kamoa copper mine project and the Kolwezi copper and cobalt project, cement and limestone industry extension project in the Dr. Republic of the Congo (DRC), which has played an important role in increasing income and poverty alleviation in the DRC (DRC), and has been highly recognized by the DRC government and local communities. In view of Zijin Mining's outstanding performance in the construction and operation of the Dr. Republic of the Congo (DRC) project, the DRC state-owned mining company has stepped up its cooperation with Zijin Mining, and through negotiations from July to September 2021, the state-owned enterprise COMEIERE agreed to transfer its 15% equity interest in Dathcom and sign an agreement, so that Jincheng Mining, a subsidiary of Zijin Mining, obtained a 15% interest in the Manono lithium mine project; at the same time, the two parties established a joint venture to establish Catamba Mining Company. Jointly developed two greenfield exploration and mining rights of PE12453 and PE13427 outside the Manono lithium mine.
Zijin Mining's investment representative said that the acquisition of a 15% interest in Zijin Mining Manono Lithium Mine can be described as a twist and turn. In September 2021, under the premise of the approval of the Ministry of State-owned Assets Supervision and Administration of the Democratic Republic of the Congo (DRC), COMINIERE signed the Equity Transfer Agreement with Zijin Mining under the condition of complying with the provisions of the pre-emptive right, and Jincheng Mining, a subsidiary of Zijin Mining, acquired its 15% equity interest in the Manono lithium mine project. The transaction was blocked by AVZ, the other party refused to convene a board of directors, shareholders' meeting, and twice filed a lawsuit with the court, forcing the transaction to move forward to judicial proceedings; in November 2021, the Commercial Court of Ruben and Brazil of the Democratic Republic of the Congo (DRC) rejected AVZ's application and presided over a general meeting of shareholders to approve the transfer of 15% of the equity of JINCHENG MINING, jincheng Mining became a legal shareholder holding 15% of the equity of Dathcom, and completed the relevant commercial registration and change of movable property registration number (RCCM). Since then, AVZ has further objected and obstructed through multiple channels, and in January 2022, the Commercial Court of Ruben Brazil once again rejected AVZ's claim to revoke the relevant shareholders' resolution and the changed RCCM.
The relevant person in charge of Zijin Mining said that Zijin Mining, as a responsible mining company, has a successful and rich experience in operation and management in the Democratic Republic of the Congo (DRC) in Africa, and the addition of Zijin Mining is undoubtedly helpful to accelerate the development of Manono lithium mine, and hopes that all shareholders will strengthen communication and cooperation, abandon meaningless disputes, accelerate project construction, and make due contributions to the economic and social development of the DRC (DRC) and the value improvement of investors.
IN RESPONSE TO THE RECENT ANNOUNCEMENT OF AVZ COMPANY THAT JINCHENG MINING'S TRANSFER OF SYNERGE EQUITY WAS INVALID, THE INVESTMENT REPRESENTATIVE OF ZIJIN MINING REFUTED THAT ZIJIN MINING HAD FULFILLED THE CORRESPONDING PROCEDURES IN STRICT ACCORDANCE WITH THE PROVISIONS OF THE COMPANY'S ARTICLES OF ASSOCIATION IN THE PROCESS OF EQUITY TRANSFER, AND ACTIVELY COMPLIED WITH JUDICIAL PROCEDURES UNDER THE PREMISE OF THE OTHER PARTY'S OBSTRUCTION AND SOLVED THE PROBLEM THROUGH LITIGATION. IN THE FUTURE, THE COMPANY WILL ACTIVELY SAFEGUARD ITS OWN RIGHTS AND INTERESTS AND USE LITIGATION, ARBITRATION AND OTHER MEANS TO SOLVE FOLLOW-UP PROBLEMS.
It is reported that the transfer of 15% of the shares of Dathomir and AVZ company in Dathomir company due to major flaws in the original transaction process, after the application of Dathomir company (Dathomir), the court ruled that the transaction has been terminated, and Dathomir company (Dathomir) still legally holds 15% of the shares of Dathcom.
COMINIERE said that the transfer of 15% of the shares of Dathcom between Zijin Mining and COMINIERE is reasonable, legal and compliant, and Zijin Mining is the legal shareholder holding 15% of the shares of Dathcom; COMINIERE still holds 10% of the shares of Dathcom after the completion of the transfer of shares with Zijin Mining. AVZ's transfer of 24% of The shares of Dathcom is subject to legal formalities, and if the transfer is successful, AVZ's actual shareholding in Dathcom will drop to 36%, and there is no absolute control.
----------------------------------------------------------
Highlighted red, it is a fake article as that 24% goes to CATH not Dathcom? They cant even understand the article they are referencing as it directly states that?? haha
Last edited:
Sammy_da_Smile
Regular
Is the Commercial Court of Ruben and Brazil actually a court in DRC? LMAO
Sammy_da_Smile
Regular
That guy used to comment on the PEN (Uranium stock) threads all the time, and thought he was sooo cool with his name, i'm sure you guys get lolYou know AVZ threads at HC are completely fucked when you have YOU30ATE there..........
Gareth is a bit of a knob too.........
imo
DiscoDanNZ
Regular
Hmm Interesting Article.............. I am not sure the validity of this at all.
I really don't understand how they think they have a case? If this is a legit article released by Zijin, then they completely dis the statements made by Nigel in the announcement and in the Axino youtube video. It will be interesting how this plays out. They are definately playing dirty the bastards.
----------------------------------------------------------
Source - https://www.sohu.com/a/544607618_166874
Dr. Republic of the Congo (DRC) world-class Manono lithium mine development is imminent Zijin Mining holds 15% of the shares
2022-05-07
Recently, Dr. Nsamba, the Minister of Mines of the Democratic Republic of the Congo, is about to sign a ministerial decree granting the Mining License of the Manono Lithium Mine in the Democratic Republic of the Congo to Dathcom Mining Company. Zijin Mining acquired a 15% stake in the Manono Lithium Mine by acquiring an equity interest in the Democratic Republic of the Congo (DRC) National Mining Development Corporation (COMINIERE).
The Manono lithium mine in the Democratic Republic of the Congo (DRC) is one of the world's largest uncover-ready-to-open-develop lithium LCT (lithium, cesium, tantalum) pegmatite deposits, and the JORC report, updated in July 2021, shows that the total resource volume reached 401 million tons, with an average grade of 1.63% lithium oxide, equivalent to 16.32 million tons of lithium carbonate (LCE) equivalent.
The Manono Lithium Mine is 100% owned by Dr. Dathcom, a company in the Democratic Republic of the Congo. Dathcom is a joint venture established in 2016, and after the signing of a number of supplementary agreements, in 2017 AVZ International Australia, the Democratic Republic of the Congo (COMINIERE) and Dathomir Mining Resources SARL held 60%, 25% and 15% of the shares respectively.
Since 2014, Zijin Mining has invested in the world-class Kamoa copper mine project and the Kolwezi copper and cobalt project, cement and limestone industry extension project in the Dr. Republic of the Congo (DRC), which has played an important role in increasing income and poverty alleviation in the DRC (DRC), and has been highly recognized by the DRC government and local communities. In view of Zijin Mining's outstanding performance in the construction and operation of the Dr. Republic of the Congo (DRC) project, the DRC state-owned mining company has stepped up its cooperation with Zijin Mining, and through negotiations from July to September 2021, the state-owned enterprise COMEIERE agreed to transfer its 15% equity interest in Dathcom and sign an agreement, so that Jincheng Mining, a subsidiary of Zijin Mining, obtained a 15% interest in the Manono lithium mine project; at the same time, the two parties established a joint venture to establish Catamba Mining Company. Jointly developed two greenfield exploration and mining rights of PE12453 and PE13427 outside the Manono lithium mine.
Zijin Mining's investment representative said that the acquisition of a 15% interest in Zijin Mining Manono Lithium Mine can be described as a twist and turn. In September 2021, under the premise of the approval of the Ministry of State-owned Assets Supervision and Administration of the Democratic Republic of the Congo (DRC), COMINIERE signed the Equity Transfer Agreement with Zijin Mining under the condition of complying with the provisions of the pre-emptive right, and Jincheng Mining, a subsidiary of Zijin Mining, acquired its 15% equity interest in the Manono lithium mine project. The transaction was blocked by AVZ, the other party refused to convene a board of directors, shareholders' meeting, and twice filed a lawsuit with the court, forcing the transaction to move forward to judicial proceedings; in November 2021, the Commercial Court of Ruben and Brazil of the Democratic Republic of the Congo (DRC) rejected AVZ's application and presided over a general meeting of shareholders to approve the transfer of 15% of the equity of JINCHENG MINING, jincheng Mining became a legal shareholder holding 15% of the equity of Dathcom, and completed the relevant commercial registration and change of movable property registration number (RCCM). Since then, AVZ has further objected and obstructed through multiple channels, and in January 2022, the Commercial Court of Ruben Brazil once again rejected AVZ's claim to revoke the relevant shareholders' resolution and the changed RCCM.
The relevant person in charge of Zijin Mining said that Zijin Mining, as a responsible mining company, has a successful and rich experience in operation and management in the Democratic Republic of the Congo (DRC) in Africa, and the addition of Zijin Mining is undoubtedly helpful to accelerate the development of Manono lithium mine, and hopes that all shareholders will strengthen communication and cooperation, abandon meaningless disputes, accelerate project construction, and make due contributions to the economic and social development of the DRC (DRC) and the value improvement of investors.
IN RESPONSE TO THE RECENT ANNOUNCEMENT OF AVZ COMPANY THAT JINCHENG MINING'S TRANSFER OF SYNERGE EQUITY WAS INVALID, THE INVESTMENT REPRESENTATIVE OF ZIJIN MINING REFUTED THAT ZIJIN MINING HAD FULFILLED THE CORRESPONDING PROCEDURES IN STRICT ACCORDANCE WITH THE PROVISIONS OF THE COMPANY'S ARTICLES OF ASSOCIATION IN THE PROCESS OF EQUITY TRANSFER, AND ACTIVELY COMPLIED WITH JUDICIAL PROCEDURES UNDER THE PREMISE OF THE OTHER PARTY'S OBSTRUCTION AND SOLVED THE PROBLEM THROUGH LITIGATION. IN THE FUTURE, THE COMPANY WILL ACTIVELY SAFEGUARD ITS OWN RIGHTS AND INTERESTS AND USE LITIGATION, ARBITRATION AND OTHER MEANS TO SOLVE FOLLOW-UP PROBLEMS.
It is reported that the transfer of 15% of the shares of Dathomir and AVZ company in Dathomir company due to major flaws in the original transaction process, after the application of Dathomir company (Dathomir), the court ruled that the transaction has been terminated, and Dathomir company (Dathomir) still legally holds 15% of the shares of Dathcom.
COMINIERE said that the transfer of 15% of the shares of Dathcom between Zijin Mining and COMINIERE is reasonable, legal and compliant, and Zijin Mining is the legal shareholder holding 15% of the shares of Dathcom; COMINIERE still holds 10% of the shares of Dathcom after the completion of the transfer of shares with Zijin Mining. AVZ's transfer of 24% of The shares of Dathcom is subject to legal formalities, and if the transfer is successful, AVZ's actual shareholding in Dathcom will drop to 36%, and there is no absolute control.
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Highlighted red, it is a possible fake aritcle as that 24% goes to CATH not Dathcom? They cant even understand the article they are referencing as it directly states that?? haha
It definitely has a fishy smell about it and is very much biased towards Zijin (of course its going to be) but it could just be the translation throwing me off... If it was originally an English article I'd call bullshit right from the get go because of the terrible first sentence...
e.g. "Recently, Dr. Nsamba, the Minister of Mines of the Democratic Republic of the Congo, is about to sign a ministerial decree granting th." - Well which one is it? Recently or about to be?
Like I said it might just be the translation but...
The guy is a complete flog, been a troll at HC for a long long time.....
Sammy_da_Smile
Regular
Hmm yeh i did think it could possibly be the translation, i saw it posted on twitter in chinese so sought to find it and translate it. I provided the source if someone can read its native text?
But yeh, i doubt the translation has converted CATH to Dathcom. Obvious mistake which makes you question immediately the validity of the article, and also the Court of Ruben Brazil. Maybe they got confused while drafting this nonsense in Brazil while eating a Ruben?
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Sammy_da_Smile
Regular
This is RubenWhat- you haven't heard of the Court Of Ruben in Brazil?
Who The F*#k is Ruben?
Samus
Top 20
The plot thickens @Sammy_da_Smile
Doesn't seem like something to be shrugged off by shareholders anyway.
I'd be pretty surprised if this wasn't something avz management would have been open and transparent about if it had any basis in reality?
It'll be pretty discouraging if it turns out these picks have simply muscled their way in as stated.
Ccp spewing bs to their populous through state controlled media?
Seriously wtf?? these Chinese simply could not give a fuck could they?
Dodgy any way you spin it.
Bring on Tuesday I guess.
I mean not dissimilar to what we've seen before but this goes into even more specific detail.
"The transaction was blocked by AVZ, the other party refused to convene a board of directors, shareholders' meeting, and twice filed a lawsuit with the court, forcing the transaction to move forward to judicial proceedings; in November 2021, the Commercial Court of Ruben and Brazil of the Democratic Republic of the Congo (DRC) rejected AVZ's application and presided over a general meeting of shareholders to approve the transfer of 15% of the equity of JINCHENG MINING, jincheng Mining became a legal shareholder holding 15% of the equity of Dathcom, and completed the relevant commercial registration and change of movable property registration number (RCCM). Since then, AVZ has further objected and obstructed through multiple channels, and in January 2022, the Commercial Court of Ruben Brazil once again rejected AVZ's claim to revoke the relevant shareholders' resolution and the changed RCCM."
Doesn't seem like something to be shrugged off by shareholders anyway.
I'd be pretty surprised if this wasn't something avz management would have been open and transparent about if it had any basis in reality?
It'll be pretty discouraging if it turns out these picks have simply muscled their way in as stated.
Ccp spewing bs to their populous through state controlled media?
Seriously wtf??
these Chinese simply could not give a fuck could they?Dodgy any way you spin it.
Bring on Tuesday I guess.
I mean not dissimilar to what we've seen before but this goes into even more specific detail.
"The transaction was blocked by AVZ, the other party refused to convene a board of directors, shareholders' meeting, and twice filed a lawsuit with the court, forcing the transaction to move forward to judicial proceedings; in November 2021, the Commercial Court of Ruben and Brazil of the Democratic Republic of the Congo (DRC) rejected AVZ's application and presided over a general meeting of shareholders to approve the transfer of 15% of the equity of JINCHENG MINING, jincheng Mining became a legal shareholder holding 15% of the equity of Dathcom, and completed the relevant commercial registration and change of movable property registration number (RCCM). Since then, AVZ has further objected and obstructed through multiple channels, and in January 2022, the Commercial Court of Ruben Brazil once again rejected AVZ's claim to revoke the relevant shareholders' resolution and the changed RCCM."
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