AVZ Discussion 2022
- Thread starter GazDix
- Start date
Bin59
Regular
NEWSECONOMY
HYVEST the joint venture between the Chinese of HEMIC, COMINIERE and a Congolese, who would hold the PE12436 in Manono!
April 14, 2023
Kiki Kienge
By Kiki Kienge
Hong Kong Yisen Investment Congo (HYVEST) is a joint venture created on July 20, 2018 with its registered office at No. 119, Boulevard Colonel Tshatshi, Commune of Gombe, City-Province of Kinshasa, in the Democratic Republic of Congo.
With a share capital of FC 10,000,000, HYVEST is made up of partners, whose shares in the JV are as follows:
- Exellen Mining Investment Congo SARL (HEMIC): 60% (6,000,000 FC)
- COMINIERE : 30% (3,000,000 FC)
- Guy Loando Mboyo : 10% (1,000,000 FC), Minister of State, Minister for Congolese Territorial Development.
Exellen Mining Investment Congo SARL is a company under Chinese law which has its head office in Hong Kong, China, but has a head office in Kinshasa. Hong Kong Yisen Investment Congo in reality would only be a subsidiary of the Chinese group Exellen Mining Investment Congo SARL (HEMIC);
“Hong Kong Yisen Investment Congo, has as its objective in its creation in the Democratic Republic of Congo and abroad, either by itself or through third parties, individuals or legal persons, either jointly or in participation or in any other form, all activities relating directly or indirectly to studies in geology, mining engineering, mining research and the exploitation of mineral substances. »
Now the newly formed joint venture, Hong Kong Yisen Investment Congo, has become the owner of research permit No. 12436 at Manono in Tanganyika, an area that is today talked about for its lithium. But strangely on the site of the Congolese State company, COMINIERE, this exploration permit would still belong in 2023 as the property of DATHCOM Mining sas, a joint venture which is made up of Australians from AVZ Mining, DATHOMIR, COMINIERE and MMCS.
When and how much did DATHCOM sell this research permit to Hong Kong Yisen Investment Congo?
On March 20, 2019, Hong Kong Yisen Investment Congo sold or ceded PR12436 to the Chnois of Exellen Mining Investment Congo SARL, as shown in the document below.
On December 31, 2020, following an order from the Ministry of Mines of 05/11/2020, only a few days later, the PR12436 now owned by Exellen Mining Investment Congo SARL was transformed into Exploitation License No. 12436, issued by the CAMI (mining cadastre) and signed by the Managing Director, Jean-Félix Mupande Kapwa.
A civil society report talks about the links between Guy Loando Mboyo and the Chinese Simon Cong, owner of DATHOMIR, Congo river hotel and the two companies linked to PE12436:
"the companies HONG KONG YISEN and HONG KONG EXCELLEN MINING INVESTMENT CONGO SARL as well as certain parts of the Reports of THE BOATMAN CAPITAL RESEARCH, GLOBAL WITNESS of December 2021 and THE SENTRY of November 2021 on DATHOMIR MINING RESSOURCES whose headliner is Chinese Simon CONG MAO HUAI. Mr. Guy LOANDO, current Minister of Regional Planning, has direct or indirect interests with Chinese, to be identified by our security services (including the ANR which does good work against predators), in these three companies. Our organizations think that he is in conflict of interest, he has benefited irregularly from the mining assets of COMINIERE, the sale of which is denounced as illegal in the IGF Report which depends on your authority.
Today saw the value of lithium;
- What value would this mining square of PE12436 have?
- What is the project on this perimeter?
- What has been invested so far and what has been done?
- What does the DR Congo gain from it?
- What are the results of the feasibility study, is there the presence of lithium in this mining square, the quantity and its content?
HYVEST la joint-venture entre les Chinois de HEMIC, la COMINIERE et un Congolais, qui détiendrait le PE12436 à Manono ! - Kongo Presse
Par Kiki Kienge Hong Kong Yisen Investment Congo (HYVEST) est un joint-venture créé le 20 juillet 2018 qui a comme siège social au n°119, Boulevard Colonel Tshatshi, Commune de la…kongopress.com
Bin59
Regular
I thought some might find this letter from Dan Gertler interesting.
#RDC : "I have decided to suspend all the lawsuits I have brought against NGOs and the media.", Dan Gertler's decision during this Jewish and Christian Easter period. He explains that, "non-governmental organizations are an important part of our society, as they clarify justice and guarantee human rights."
An old case involving Gertler where they suggest Mupande’s involvement in fraud - another mess created by JFMK at CAMI
xhuart.wixsite.com
On the 15th December 2017, Mr Jean Mbuyu (First Adviser to the President) visited with Pol Huart the General Director of the Mining Registry Office, Jean Felix Mupande: Mr Mupande disproved of this judgement. Consequently Mr Valery Mukasa, Chief of Staff of the Mining Ministry, was payed a visit. He confirmed that the 3 mining permits had never been cancelled, before having been granted to IME (Dan Gertler). The First Adviser to the President then attempted to commence a friendly conversation with Dan Gertler on the matter at hand, but he refused.
Dan Gertler’s reaction was to initiate a third-party opposition to a judgement from 2011. This opposition should never have been deemed admissible, for a whole range of reasons (see Summary).
Dan Gertler’s reaction is both interesting and instructive because by definition, it proves the validity of Thaurfin’s mining permits. Dan Gertler (DG) yet again finds himself involved in a fraudulent procedure, having no legal argumentation to cover the latter’s validity. It reveals his true identity of despising a countries’ justice system and its’ institutions. It also proves that particular parts of DRC authorities still show allegiance to the billionaire tycoon.
Thaurfin will be countering this feeble third-party opposition. Thaurfin also deems it necessary that a renowned attorney’s office spearheads the legal case from here onwards, enabling them to gain maximum access to all legal documents and to ensure no allegiance to DG.
Funding legal action in front of international courts will be supported through the sale of company shares, to both sue for damages suffered and to shine light on the corrupt handlings of the mining permits by part of DRC government. Subsequently, Thaurfin will recommence progress with the unique Mbomo-Mountains project.
Summary PDF (Eng. Pol Huart)
This well documented legal-case demonstrates the fraud committed by the Mining Registry Office (DRC). As long as companies around the globe are afraid to conduct business in the DRC, an organic influx of capital into the country is put on hold, the releasing of which will inevitably elevate the possibilities of wealth-creation to all Congolese citizens.
#RDC : "I have decided to suspend all the lawsuits I have brought against NGOs and the media.", Dan Gertler's decision during this Jewish and Christian Easter period. He explains that, "non-governmental organizations are an important part of our society, as they clarify justice and guarantee human rights."
An old case involving Gertler where they suggest Mupande’s involvement in fraud - another mess created by JFMK at CAMI
LEGAL | Thaurfin
LEGAL
The Mining Registry Office has given mining permits to Dan Gertler, by illegally discounting those that have been granted legally via ministerial order, for which Thaurfin Ltd is the current legal owner. The judgement that holds value of title, ordering JEKA to transfer the 3 mining permits in question to Eng. Pol Huart, became definitive on the 1st December 2017.On the 15th December 2017, Mr Jean Mbuyu (First Adviser to the President) visited with Pol Huart the General Director of the Mining Registry Office, Jean Felix Mupande: Mr Mupande disproved of this judgement. Consequently Mr Valery Mukasa, Chief of Staff of the Mining Ministry, was payed a visit. He confirmed that the 3 mining permits had never been cancelled, before having been granted to IME (Dan Gertler). The First Adviser to the President then attempted to commence a friendly conversation with Dan Gertler on the matter at hand, but he refused.
Dan Gertler’s reaction was to initiate a third-party opposition to a judgement from 2011. This opposition should never have been deemed admissible, for a whole range of reasons (see Summary).
Dan Gertler’s reaction is both interesting and instructive because by definition, it proves the validity of Thaurfin’s mining permits. Dan Gertler (DG) yet again finds himself involved in a fraudulent procedure, having no legal argumentation to cover the latter’s validity. It reveals his true identity of despising a countries’ justice system and its’ institutions. It also proves that particular parts of DRC authorities still show allegiance to the billionaire tycoon.
Thaurfin will be countering this feeble third-party opposition. Thaurfin also deems it necessary that a renowned attorney’s office spearheads the legal case from here onwards, enabling them to gain maximum access to all legal documents and to ensure no allegiance to DG.
Funding legal action in front of international courts will be supported through the sale of company shares, to both sue for damages suffered and to shine light on the corrupt handlings of the mining permits by part of DRC government. Subsequently, Thaurfin will recommence progress with the unique Mbomo-Mountains project.
Summary PDF (Eng. Pol Huart)
This well documented legal-case demonstrates the fraud committed by the Mining Registry Office (DRC). As long as companies around the globe are afraid to conduct business in the DRC, an organic influx of capital into the country is put on hold, the releasing of which will inevitably elevate the possibilities of wealth-creation to all Congolese citizens.
bloke383
Regular
AVZ said “no comment” to questions around claims from a DRC source that its chief executive Nigel Ferguson is currently in the country seeking to meet with its minister for regional planning Guy Loando. The minister is a senior member of the government of President Felix Tshisekedi.
AVZ wins embassy support in DRC mine stoush
Tom RichardsonMarkets reporter and commentator
Apr 14, 2023 – 3.26pm
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Embattled lithium explorer AVZ Minerals said it met with Australia’s ambassador designate to the Democratic Republic of Congo, and received a commitment to work with the miner in its efforts to obtain a mining license in the resource rich African nation.
The request for government support comes as the Albanese government signalled its critical minerals strategy will push back against Chinese investors’ dominance of clean energy supply chains.
AVZ said it met Minoli Perera, Australia’s ambassador to Zimbabwe at an unspecified location. Ms Perera has accreditation to the DRC where Australia has no official embassy in a country that has significant political instability and security risks.
The Perth-headquartered miner is locked in a battle with Chinese and DRC stakeholders for control of potentially the world’s most valuable untapped lithium deposit named Manono, after its mining license was cancelled by the DRC government in January.
If AVZ cannot obtain a new mining license its shareholder base of institutional Chinese investors and Australian retail investors face a potential $2.7 billion paper wealth wipeout.
AVZ said “no comment” to questions around claims from a DRC source that its chief executive Nigel Ferguson is currently in the country seeking to meet with its minister for regional planning Guy Loando. The minister is a senior member of the government of President Felix Tshisekedi.
The source claimed Minister Loando may arrange a meeting for Mr Ferguson with President Tshisekedi, who is regarded as the ultimate power broker to resolve the dispute between warring stakeholders. AFR Weekend is unable to verify the claims Mr Ferguson is in the DRC.
Sharemarket limbo
On Wednesday in an announcement to the sharemarket, AVZ said it couldn’t comply with listing rules around disclosure partly because the DRC is a “challenging” mining jurisdiction and the intention of its government is too unclear to warrant disclosure.
A potential International Chamber of Commerce dispute between AVZ and rival Chinese miner scheduled for April 23 has also been postponed for unspecified reasons, fuelling speculation some movement is expected to resolve the deal.
AVZ claims it has valid legal title to 75 per cent of the project and has regularly rubbished claims by rival stakeholders Dathomir and Zijin Mining over ownership interests totalling 30 per cent of the Manono project.
The Perth-based miner’s agent in the DRC, Marius Mihigo, again used Twitter on Thursday to accuse Zijin of underhand payments in acquiring its stake. Mr Mihigo added “Zijin will not succeed in stealing the project.” Zijin has denied the accusations.
Fortescue Metals Group has also partnered with the DRC to develop hydroelectric power at the Grand Inga Project, although news wire Africa Intelligence said on April 11 that the project has been plagued by delays.
The source claimed Minister Loando may arrange a meeting for Mr Ferguson with President Tshisekedi, who is regarded as the ultimate power broker to resolve the dispute between warring stakeholders. AFR Weekend is unable to verify the claims Mr Ferguson is in the DRC.
I know it's only an article from Tommy but I sincerely hope we aren't relying on Guy Loando to arrange a meeting with Felix .... because that request will never reach him , like last time . I thought that's why we were paying Marius Mihigo the dollars .... to be able to have direct communication with Felix ?
The Aussie Ambassador will rally the US . Tommy the turd is talking sh1t . Australia and the USA are brothers in Arms . China is the Enemy .
Xerof
Biding my Time 1971
Winenut
Go AVZ!
On a totally non topical subject if anyone is in SA for Gather Round I hope you have a great time and enjoy the football and the many beautiful things this state has to offer
Apart from the footy get into the many great pubs and restaurants
Get to>
The Adelaide Hills (cool climate whites and reds, food and SOOOO close to the CBD)
Barossa (classic Shiraz and warmer climate reds)
McLaren Vale (great Grenache and blends)
Langhorne Creek (seriously great value underated reds)
Currency Creek (great mix of varietals with some Italian getting in there)
Southern Fleurieu (great varietal mix again and some cool breweries)
Clare Valley (fuck it just drink the Riesling!!!!.....oh and ride the Riesling trail)
Eden Valley (cooler Barossa climate so elegant wines and some great minerally Rieslings)
If anyone wants some tips on wineries, restaurants (Italian, Modern, Casual, Chinese, Thai, Argentinian, Indian, Steak, Grill, Charcoal), cool small bars and venues, great destinations( scenery/walks) etc just post a query here on the thread.....I'd be more than happy to help out and everyone can see the feedback
Beats thinking about AVZ and the DRC for a while!
Cheers
Nut
Apart from the footy get into the many great pubs and restaurants
Get to>
The Adelaide Hills (cool climate whites and reds, food and SOOOO close to the CBD)
Barossa (classic Shiraz and warmer climate reds)
McLaren Vale (great Grenache and blends)
Langhorne Creek (seriously great value underated reds)
Currency Creek (great mix of varietals with some Italian getting in there)
Southern Fleurieu (great varietal mix again and some cool breweries)
Clare Valley (fuck it just drink the Riesling!!!!.....oh and ride the Riesling trail)
Eden Valley (cooler Barossa climate so elegant wines and some great minerally Rieslings)
If anyone wants some tips on wineries, restaurants (Italian, Modern, Casual, Chinese, Thai, Argentinian, Indian, Steak, Grill, Charcoal), cool small bars and venues, great destinations( scenery/walks) etc just post a query here on the thread.....I'd be more than happy to help out and everyone can see the feedback
Beats thinking about AVZ and the DRC for a while!
Cheers
Nut
Last edited:
Mr Inappropriate
Regular
Seriously, what the fuck would you know about wine, wino?On a totally non topical subject if anyone is in SA for Gather Round I hope you have a great time and enjoy the football and the many beautiful things this state has to offer
Apart from the footy get into the many great pubs and restaurants
Get to>
The Adelaide Hills (cool climate whites and reds, food and SOOOO close to the CBD)
Barossa (classic Shiraz and warmer climate reds)
McLaren Vale (great Grenache and blends)
Langhorne Creek (seriously great value underated reds)
Currency Creek (great mix of varietals with some Italian getting in there)
Southern Fleurieu (great varietal mix again and some cool breweries)
Clare Valley (fuck it just drink the Riesling!!!!.....oh and ride the Riesling trail)
Eden Valley (cooler Barossa climate so elegant wines and some great minerally Rieslings)
If anyone wants some tips on wineries, restaurants (Italian, Modern, Casual, Chinese, Thai, Argentinian, Indian, Steak, Grill, Charcoal), cool small bars and venues, great destinations( scenery/walks) etc just send me a message.....I'd be more than happy to help out
Beats thinking about AVZ and the DRC for a while!
Cheers
Nut
Also, white wine - is that even a thing?
Winenut
Go AVZ!
Largus Averta
Regular
Azzler
Top 20
Yeah nice Nut, but I think we're all on the 2 minute noodles until all this blows over.On a totally non topical subject if anyone is in SA for Gather Round I hope you have a great time and enjoy the football and the many beautiful things this state has to offer
Apart from the footy get into the many great pubs and restaurants
Get to>
The Adelaide Hills (cool climate whites and reds, food and SOOOO close to the CBD)
Barossa (classic Shiraz and warmer climate reds)
McLaren Vale (great Grenache and blends)
Langhorne Creek (seriously great value underated reds)
Currency Creek (great mix of varietals with some Italian getting in there)
Southern Fleurieu (great varietal mix again and some cool breweries)
Clare Valley (fuck it just drink the Riesling!!!!.....oh and ride the Riesling trail)
Eden Valley (cooler Barossa climate so elegant wines and some great minerally Rieslings)
If anyone wants some tips on wineries, restaurants (Italian, Modern, Casual, Chinese, Thai, Argentinian, Indian, Steak, Grill, Charcoal), cool small bars and venues, great destinations( scenery/walks) etc just post a query here on the thread.....I'd be more than happy to help out and everyone can see the feedback
Beats thinking about AVZ and the DRC for a while!
Cheers
Nut
I've been buying the 8 buck 2L Lachlan Ridge goon sacks lately...
Actually I was just looking at Youtube videos about starting your own winery, I'm looking at moving up to the Shoalhaven area, and am wondering what I can do in my retirement.
Wonder how many reds you can produce on 1 acre of vineyard?
Winenut
Go AVZ!
I am the master of the great "value" wineYeah nice Nut, but I think we're all on the 2 minute noodles until all this blows over.
I've been buying the 8 buck 2L Lachlan Ridge goon sacks lately...
Actually I was just looking at Youtube videos about starting your own winery, I'm looking at moving up to the Shoalhaven area, and am wondering what I can do in my retirement.
Wonder how many reds you can produce on 1 acre of vineyard?
"Grange" etc overated and over worked
I can always provide "intel" on great buys on a budget!
Of course I don't mind spending a bit more on something special....matched with the right food of course!
Winenut
Go AVZ!
Yeah nice Nut, but I think we're all on the 2 minute noodles until all this blows over.
I've been buying the 8 buck 2L Lachlan Ridge goon sacks lately...
Actually I was just looking at Youtube videos about starting your own winery, I'm looking at moving up to the Shoalhaven area, and am wondering what I can do in my retirement.
Wonder how many reds you can produce on 1 acre of vineyard?
Not sure on what volume of decent grapes you'll get out of a young vineyard on one acre but I adhere to the sage old advice
"How do you make a small fortune"?????
"Start with a large fortune and buy a winery"!
D
Deleted member 1612
Guest
I like this drink angle. Can we all get back to happy snaps of our drinks. The good old days.
Frank
Top 20
Zijin Mining sues the $1.5 million agreement signed between AVZ and Marius Mihigo
Chinese miner Zijin Mining has ratcheted up the pressure on AVZ Minerals by claiming the latter's US$1 million ($1.5 million) cash payment to Congolese middleman Marius Mihigo is unacceptable and contrary to the rules of the mining framework of the Democratic Republic of the Congo.
The rant fuels a sprawling standoff between Chinese, Australian and Congolese stakeholders over the ownership rights of the world's potentially most valuable untapped lithium project in Manono, southeastern Democratic Republic of Congo. .
"The agreement to pay such fees to intermediary Mr. Mihigo remains shrouded in secrecy and is of serious concern to Zijin Mining," said Chen Chen, Zijin's attorney.
“The DRC has a comprehensive legal framework for mining, which does not require additional fees or lobbying by agents to obtain a mining license.
This behavior is unacceptable and contrary to the philosophy of Zijin Mining,” he added.
The lawyer said an International Chamber of Commerce arbitration hearing scheduled in Paris between his legal team and AVZ on April 23 has been postponed for unspecified reasons.
Meanwhile, the Australian Securities Exchange has suspended AVZ for failing to comply with its listing rules, after the former S&P/ASX 200 member said it was unable to disclose full information to the market. .
The company also said it did not disclose Manono's ownership disputes in 2021 because they were not material to its business.
Towards an open conflict?
Since the Australian Financial Review reported that Mr Mihigo had accepted a US$1 million cash payment from AVZ, the consultant has denied any unacceptable conduct and claimed in the Financial Times of London, French public broadcaster France 24 and DRC media that Zijin was behind an "orchestrated disinformation campaign" aimed at defaming him and AVZ.
It is recalled that Mihigo publicly complained about the release of AVZ's plan to pay him an additional success bonus of US$3 million and US$2 million in stock, for a total of US$5 million. , if the mining license was granted.
On June 2, AVZ's board of directors agreed to hire law firm DLA Piper to conduct a review of its plan to offer the $5 million success bonus.
DLA Piper later advised against agreeing to pay the success bonus, which was dropped.
At the TCC hearing later this year, AVZ will seek to have Zijin's claim for a 15% ownership interest in Manono dismissed, on the grounds that the court lacks jurisdiction.
Zijin says it bought a 15% stake in Manono in November 2021 for US$33.4 million from Congolese state-backed mining body Cominiere.
However, AVZ has repeatedly denied this claim, calling it "misleading" and not backed by any legal authority.
The Perth-based mining company says it still owns 75% of Manono, with the transfer of 15% breaching the joint venture agreement with seller Cominiere.
mediacongo
Let's remember their track record.
Here are some examples of the negative impact the company has had:
Toxic Spills: In 2010, a tailings dam at Zijin's copper mine in Fujian province collapsed, causing 2,000 tons of toxic waste to spill into a nearby river.
The incident resulted in severe environmental damage and widespread protests from local residents.
Human Rights Violations:
In 2015, Zijin Mining was accused of violating the rights of workers at its copper mine in Tibet.
According to a report by Human Rights Watch, workers were subjected to forced labor, long working hours, and dangerous working conditions.
Illegal Mining: In 2016, Zijin was found to be operating an illegal gold mine in Indonesia.
The company was fined $5.2 million and ordered to cease operations at the mine.
Wildlife Destruction: In 2018, Zijin was accused of causing significant damage to a protected wetland area in Papua New Guinea.
The company had been granted a permit to conduct exploration activities in the area, but local residents and environmental groups claimed that the company had caused significant damage to the ecosystem.
Controversial Investments: Zijin has also faced criticism for its investments in controversial projects, such as the Porgera gold mine in Papua New Guinea, which has been accused of human rights abuses and environmental destruction.
*Thanks to Kenton on the Crapper for that
Food for thought
Cheers
Frank
Chinese miner Zijin Mining has ratcheted up the pressure on AVZ Minerals by claiming the latter's US$1 million ($1.5 million) cash payment to Congolese middleman Marius Mihigo is unacceptable and contrary to the rules of the mining framework of the Democratic Republic of the Congo.
The rant fuels a sprawling standoff between Chinese, Australian and Congolese stakeholders over the ownership rights of the world's potentially most valuable untapped lithium project in Manono, southeastern Democratic Republic of Congo. .
"The agreement to pay such fees to intermediary Mr. Mihigo remains shrouded in secrecy and is of serious concern to Zijin Mining," said Chen Chen, Zijin's attorney.
“The DRC has a comprehensive legal framework for mining, which does not require additional fees or lobbying by agents to obtain a mining license.
This behavior is unacceptable and contrary to the philosophy of Zijin Mining,” he added.
The lawyer said an International Chamber of Commerce arbitration hearing scheduled in Paris between his legal team and AVZ on April 23 has been postponed for unspecified reasons.
Meanwhile, the Australian Securities Exchange has suspended AVZ for failing to comply with its listing rules, after the former S&P/ASX 200 member said it was unable to disclose full information to the market. .
The company also said it did not disclose Manono's ownership disputes in 2021 because they were not material to its business.
Towards an open conflict?
Since the Australian Financial Review reported that Mr Mihigo had accepted a US$1 million cash payment from AVZ, the consultant has denied any unacceptable conduct and claimed in the Financial Times of London, French public broadcaster France 24 and DRC media that Zijin was behind an "orchestrated disinformation campaign" aimed at defaming him and AVZ.
It is recalled that Mihigo publicly complained about the release of AVZ's plan to pay him an additional success bonus of US$3 million and US$2 million in stock, for a total of US$5 million. , if the mining license was granted.
On June 2, AVZ's board of directors agreed to hire law firm DLA Piper to conduct a review of its plan to offer the $5 million success bonus.
DLA Piper later advised against agreeing to pay the success bonus, which was dropped.
At the TCC hearing later this year, AVZ will seek to have Zijin's claim for a 15% ownership interest in Manono dismissed, on the grounds that the court lacks jurisdiction.
Zijin says it bought a 15% stake in Manono in November 2021 for US$33.4 million from Congolese state-backed mining body Cominiere.
However, AVZ has repeatedly denied this claim, calling it "misleading" and not backed by any legal authority.
The Perth-based mining company says it still owns 75% of Manono, with the transfer of 15% breaching the joint venture agreement with seller Cominiere.
mediacongo
Let's remember their track record.
Here are some examples of the negative impact the company has had:
Toxic Spills: In 2010, a tailings dam at Zijin's copper mine in Fujian province collapsed, causing 2,000 tons of toxic waste to spill into a nearby river.
The incident resulted in severe environmental damage and widespread protests from local residents.
Human Rights Violations:
In 2015, Zijin Mining was accused of violating the rights of workers at its copper mine in Tibet.
According to a report by Human Rights Watch, workers were subjected to forced labor, long working hours, and dangerous working conditions.
Illegal Mining: In 2016, Zijin was found to be operating an illegal gold mine in Indonesia.
The company was fined $5.2 million and ordered to cease operations at the mine.
Wildlife Destruction: In 2018, Zijin was accused of causing significant damage to a protected wetland area in Papua New Guinea.
The company had been granted a permit to conduct exploration activities in the area, but local residents and environmental groups claimed that the company had caused significant damage to the ecosystem.
Controversial Investments: Zijin has also faced criticism for its investments in controversial projects, such as the Porgera gold mine in Papua New Guinea, which has been accused of human rights abuses and environmental destruction.
*Thanks to Kenton on the Crapper for that
Food for thought
Cheers
Frank
Last edited:
Winenut
Go AVZ!
Zijin Mining sues the $1.5 million agreement signed between AVZ and Marius Mihigo
View attachment 34278
Chinese miner Zijin Mining has ratcheted up the pressure on AVZ Minerals by claiming the latter's US$1 million ($1.5 million) cash payment to Congolese middleman Marius Mihigo is unacceptable and contrary to the rules of the mining framework of the Democratic Republic of the Congo.
The rant fuels a sprawling standoff between Chinese, Australian and Congolese stakeholders over the ownership rights of the world's potentially most valuable untapped lithium project in Manono, southeastern Democratic Republic of Congo. .
"The agreement to pay such fees to intermediary Mr. Mihigo remains shrouded in secrecy and is of serious concern to Zijin Mining," said Chen Chen, Zijin's attorney.
“The DRC has a comprehensive legal framework for mining, which does not require additional fees or lobbying by agents to obtain a mining license.
This behavior is unacceptable and contrary to the philosophy of Zijin Mining,” he added.
The lawyer said an International Chamber of Commerce arbitration hearing scheduled in Paris between his legal team and AVZ on April 23 has been postponed for unspecified reasons.
Meanwhile, the Australian Securities Exchange has suspended AVZ for failing to comply with its listing rules, after the former S&P/ASX 200 member said it was unable to disclose full information to the market. .
The company also said it did not disclose Manono's ownership disputes in 2021 because they were not material to its business.
Towards an open conflict?
Since the Australian Financial Review reported that Mr Mihigo had accepted a US$1 million cash payment from AVZ, the consultant has denied any unacceptable conduct and claimed in the Financial Times of London, French public broadcaster France 24 and DRC media that Zijin was behind an "orchestrated disinformation campaign" aimed at defaming him and AVZ.
It is recalled that Mihigo publicly complained about the release of AVZ's plan to pay him an additional success bonus of US$3 million and US$2 million in stock, for a total of US$5 million. , if the mining license was granted.
On June 2, AVZ's board of directors agreed to hire law firm DLA Piper to conduct a review of its plan to offer the $5 million success bonus.
DLA Piper later advised against agreeing to pay the success bonus, which was dropped.
At the TCC hearing later this year, AVZ will seek to have Zijin's claim for a 15% ownership interest in Manono dismissed, on the grounds that the court lacks jurisdiction.
Zijin says it bought a 15% stake in Manono in November 2021 for US$33.4 million from Congolese state-backed mining body Cominiere.
However, AVZ has repeatedly denied this claim, calling it "misleading" and not backed by any legal authority.
The Perth-based mining company says it still owns 75% of Manono, with the transfer of 15% breaching the joint venture agreement with seller Cominiere.
mediacongo
Let's remember their track record.
Here are some examples of the negative impact the company has had:
Toxic Spills: In 2010, a tailings dam at Zijin's copper mine in Fujian province collapsed, causing 2,000 tons of toxic waste to spill into a nearby river.
The incident resulted in severe environmental damage and widespread protests from local residents.
Human Rights Violations:
In 2015, Zijin Mining was accused of violating the rights of workers at its copper mine in Tibet.
According to a report by Human Rights Watch, workers were subjected to forced labor, long working hours, and dangerous working conditions.
Illegal Mining: In 2016, Zijin was found to be operating an illegal gold mine in Indonesia.
The company was fined $5.2 million and ordered to cease operations at the mine.
Wildlife Destruction: In 2018, Zijin was accused of causing significant damage to a protected wetland area in Papua New Guinea.
The company had been granted a permit to conduct exploration activities in the area, but local residents and environmental groups claimed that the company had caused significant damage to the ecosystem.
Controversial Investments: Zijin has also faced criticism for its investments in controversial projects, such as the Porgera gold mine in Papua New Guinea, which has been accused of human rights abuses and environmental destruction.
*Thanks to Kenton on the Crapper for that
Food for thought
Cheers
Frank
Oh fuck me!!!
Really!!
The knts who illegally claim to have acquired 15% of the project from Cominiere for $33M instead of the value $150M without AVZ's FROR being enacted and have apparently paid about $1.5-$2M to corrupt DRC ministers and officials in that transaction are crying foul of our consulting fees and arrangements ????????
GO AND GET ABSOLUTELY FUCKED ZIJIN!
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