I'm guessing either:
a) There really isn't any reasoning behind the numbers. It's a ploy to tie us up further until the election and they attempt to get someone more sympathetic in power, or hope we run out of money. Especially when there is already the existing Cominiere ICC case against us which would invalidate this one in the event it is unsuccessful. Having Z attached to the case is a way of allowing Z to bankroll it.
b) They are claiming they should be in control of the project somehow, and the reason is AVZ riding roughshod and acting without consultation against the terms of the JV as they have whinged about in the past against all available evidence. If Cominiere were allowed to dissolve the JV, they would have Manono, and Z is there to bankroll the case and claim 15% as a fee for doing so. I assume Z would be lining up to "buy" more if successful.
Don’t think Zijin is hoping for a change of government Hudnut, I think Tshisekedi would have made an executive decision if that was the case…. So possibly still casts some doubt on Tshisekedi’s stance
People seem to have forgotten Zijin’s blackmail threat regarding Cominiere if they didn’t get the northern section
Time to put some reminders of how Zijin conducts business…. The first heading is mine, followed by the news articles I was referencing
My apology in advance for not editing, it’s after midnight
CHINESE MINING COMPANY
ZIGIN MINING PREVIOUSLY EXPOSED FOR HUMAN RIGHTS VIOLATIONS AND FRAUD…. NOW EXPOSED BLACKMAILING IN THE DRC TO GET A SLICE OF THE MANONO LITHIUM PROJECT
Cancellation of DATHCOM's lithium exploitation license in Manono: the black hand of Zijin and his accomplices unmasked
February 13, 2023 TIGHANA MASIALA Comments offon Cancellation of DATHCOM's lithium exploitation license for Manono: the black hand of Zijin and his accomplices unmasked
As in 2009 when the Australian-Canadian First Quantum Minerals (FQM) was stripped of its mining rights in the former Katanga (Haut-Katanga and Lualaba) for the benefit of a third party, the Sama Lukonde Government, under the reign of Félix Tshisekedi and with the same leaders at the helm for more than fifteen years of the the people of Manono. Reason given by the Minister: "conflicts between shareholders" is not one of the reasons provided for by the country's mining law. After investigations, to DATH Majority shareholder of DATHCOM, everything is in place to break the Australian AVZ to the point of pushing it to abandon Manono's lithium project for which he is the only one to have produced a feasibility study worthy of the name, rated 4.5 on a scale of 5 by the illustrious mining expert, Raph Ngoy Mushila; which study served
We know a little more about the real reasons that pushed the Government, via the Minister of Mines who seems to be a simple executor of an illegal decision by the antipatriots and sappers of Félix Antoine Tshisekedi's mining vision, annulled, by its decree of January 28 , 2023, the Operating Permit No. 13359 relating to the Manono lithium project As in 2009 during the reign of Kabila, which drew from the Australian-Canadian First Quantum Minerals (FQM) all the mining rights it held on three flagship projects in Greater Katanga, namely Kinga-myambo Musonoi Tailings (KMT) that became Metalkol, Frontier Sprl and the Lonshi mine for the benefit of Dan Gertler's
In Kinshasa, everything is being done to push AVZ Minerals to give up its Manono project. In ambush, there is the Chinese Zijin Mining Company who pulls the strings, ready to put the package to recover Manono's project after its US $35 million, there would have been more if the security services investigate statements attributed to Cominiere's technical director, Kibeya, which circulate on social networks, for which the interim director general of La Cominière, M
It is therefore understandable why the Minister of Mines decided, on January 28, 2023, to cancel the EP granted in April 2022 to DATHCOM, in which AVZ Minerals is a majority shareholder.
Curiously, the Minister of Mines motivated her decision by "conflicts between shareholders". A situation that can never lead to the forfeiture of a mining right, under the mining legislation in force in the Democratic Republic of Congo.
Zijin's black hand
How and who does AVZ Minerals bother? Why has Kinshasa just withdrawn PE n°13359 from DATHCOM? So many questions that led Econews to take a closer look at this project proposed by the Chinese of Zijin. Through a cross-checking and investigation exercise, our editorial staff and partners came across a letter from Zijin to the General Directorate of the Congolese Mining Operations (Cominière SA) dated October 21, 2022.
The title of this correspondence (Cfr. extracts in facsimile), signed from the Chinese city of XIAMEN, is evocative.By this letter, signed by CHEN Jingne in his capacity as Chairman of the Board of Directors of ZijinMining Group CO. Ltd, this Chinese group accused by Lualaba NGOs for its abuses and violations of laws at Comus and Kamoa Copper presented to La Cominière its "partnership offer to advance Manono's lithium exploitation project". Better an order to close the deal on the $35 million issues.
From the outset, Zijin introduces his letter in these terms: "We are honored to send you this letter in relation to the subject line. As a multinational mining group, Zijin Mining Group Company Ldt (abbreviated "ZijinMining") focuses on the exploration and exploitation of gold, copper and other metal mineral resources as well as on the application and study of engineering technology, whose head office is located at No. 1 Zijin Avenue, Shanghang Commune, Longgyan City, Fujian Province, China. It is listed on both the Hong Kong Stock Exchange (Stock Code: 2899) and Shanghai (Stock Code: 601899) Service Center, Wickhamscay II, Road Town Tortola, VG 1110. JIN CHENG Mining Limited (abbreviated "JIN CHENG"), is a subsidiary of Zijin Mining, whose head office is located at the Vista Corporate Service Center, Wickhamscay II,Road Town Tortola, VG 1110.
The motivations of Zijin Mining
as a result, the Coordinated Statutes of DATHCOM, as amended by the resolutions of the General Assembly of November 20, 2021, have not yet been signed to date; Given that Zijin Mining, parent company of JIN CHENG, which is one of the shareholders of DA and in the operation of the Manono lithium project; Since the evaluation of the reserves in PR13359 was to Zi joint development of the Targeted Party between ZijinMining and COMINIERE". Given that Zijin Mining, parent company of JIN CHENG, which is one of the shareholders of DA and in the operation of the Manono lithium project; Since the evaluation of the reserves in PR13359 was made partially, during the transformation of the PR (Research Permit) into PE (Operating Permit), by the holder DATHCOM, who renounced the northeast part of the Given that Zijin Mining, parent company of JIN CHENG, which is one of the shareholders of DA and in the operation of the Manono lithium project; Since the evaluation of the reserves in PR13359 was made partially, during the transformation of the PR (Research Permit) into PE (Operating Permit), by the holder DATHCOM, who renounced the northeast part of the of COMINIERE confirmed to Zi joint development of the Targeted Party between ZijinMining and COMINIERE". who renounced the northeast part of the PR13359, which is the Targeted Part; Since the geologists of COMINIERE confirmed to Zi joint development of the Targeted Party between ZijinMining and COMINIERE".
In view of the above, Zijin Mining then submitted its offer - "This Offer" - in the following terms: "1. A joint venture agreement (the "Joint Venture Agreement") will be concluded between a designated subsidiary of ZijinMining and COMINIERE, according to which the parties will create a joint venture (the "Joint-Venture"), in which the Zijin Mining subsidiary will hold 71% of shares and COMINÎERE 29% shares".
This offer concerns the northern part of the Dathcom Mining SA Permit in Manono for which AVZ MInerals is the only partner of Cominière to have invested expertise and money in exploration and studies that have resulted in certifying the largest lithium deposit in the world while Cominière and its poor engineers at the head of the Technical Directorate could not imagine it.
Zijin is even more explicit: "After the creation of the Joint Venture, COMINIERE will assign the mining right on the Targeted Party legally held by it to the Joint Venture, free of any privilege, charge, claim, litigation and default. The research, development and operation of the Targeted Party will be carried out on behalf of the Joint Venture.
On the date when COMINIERE transfers the mining right of the Targeted Party to the Joint Venture by completing all relevant procedures such as registration, registration and notarization, and the Joint Venture becomes the legal and effective holder of 100% of the rights and interests of the Targeted Party, J (the "Retrocession of 15% shares").
Finally, Zijin concludes his letter by noting that "to avoid any ambiguity, it should be specified that if COMINIERE fails to legally and effectively transfer the mining right of the Party in question to the Joint Venture, COMINIERE will not have the right to require JIN CHENG to retrocession of 15% of shares in DATHCOM, nor to renounce the payment it made for
In the event of acceptance of this Offer by COMINIERE, it must acknowledge receipt and sign on the signature page before the expiry of the Validity period. Otherwise, this Offer will be considered automatically lapsed, unless Zijin Mining decides otherwise".
This is where the investigators of the Court of Auditors, the internal security of the Presidency of the Republic of Jacques Tshibanda tshisekedi, the General Inspectorate of Finance of Jules Alingete Key and the National Intelligence Agency of Jean-Hervé Mbelu Biosha must further search the Cominière , the Ministry of Portfolio, the Ministry of Mines, the Mining Cadastre,
We understand everything as soon as there is a deal that exists between Zijin and La Cominière, millions of US dollars for illegally selling according to the IGM.
On balance, the Cominière could never conclude such a contract without the approval of its double hierarchy, namely the bosses of the Ministry of the Portfolio and the Ministry of Mines. The pride of its Technical Director who is free despite the IGF Report demonstrates it. This clearly and clearly explains the order of the Minister of Mines who will not be able to legally defend her signature in front of a panel of independent investigators.
However, there is already an arbitration trial on this same Mining Permit, it is as if the Cominière and those who push her (real citizens of the Republic of the unconscious of which Modeste Mutinga Mutuishayi'
In fact, the Government has decided, to please the Chinese Zijin, to withdraw what belongs by right to DATHCOM Mining SA where AVZ Minerals is a shareholder, as it was with First Quantum Minerals in 2009 under Joseph Kabila by Minister Kabwelulu, to entrust it partially or entirely in the new Joint Venture formed between Zijin Mining Company (71% of shares) and File to follow.
We therefore find ourselves with unbalanced shareholding, for the benefit of the Chinese who already dominate the cupro-cobaltifer sector in a wild way. This financial package demonstrates all the mafia that surrounds this case in which the investigations of the media and Ongs consortium working on the natural resources sector is certain to discover several corpses and skeletons in the closets of Congolese citizens who behave like mercenaries at the expense of the interests of the Republic. With these shameless practices, he is the President of the Republic who is stabbed in the back by crooked officials who undermine for prebends, as in the Mexican narcotic mafia, by imposing a kind of omerta on every voice that will denounce evil.
Comme en 2009 lorsque l’australo-canadien First Quantum Minerals (FQM) s’est vu dépouiller de ses droits miniers dans l’ex-Katanga (Haut-Katanga et Lualaba) au profit d’un tiers, <a class="mh-excerpt-more"...
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