AVZ Discussion 2022
- Thread starter GazDix
- Start date
Xerof
Biding my Time 1971
Yeah, no idea if fake or not. Stirring, but pointing out that eyes are on SM
Billionaire Forrest ‘Can’t Wait Forever’ for $80 Billion Congo Hydro Deal
- Grand Inga would be about twice as big as Three Gorges Dam
- Development would be Africa’s biggest investment project yet
Andrew ForrestPhotographer: Hollie Adams/Bloomberg
By
Matthew Hill
+Follow
16 June 2023 at 7:37 pm AEST
Australian mining billionaire Andrew Forrest warned he “can’t wait forever” to seal a deal with the Democratic Republic of Congo for a hydropower and green hydrogen project that would be the biggest investment in Africa yet.
The proposed development on the Congo River would produce at least 40 gigawatts of power — equivalent to almost a quarter of Africa’s total current capacity — and construction could start about 18 months after an agreement is signed, Forrest said in an interview Tuesday. He declined to specify how much capital his company would invest, with previous estimates pegging the cost at $80 billion.
Inga 1, right, and Inga 2 hydroelectric power plants on the Congo river.
Photographer: Marc Jourdier/AFP/Getty Images
“The best way to go is to have a collaboration of investors or partners,” he said. “We’ve made very clear to the Chinese, the Europeans, the Americans, other Asian companies that this is a project of global significance. We can provide the expert management that they rely on to get the project done.”
Grand Inga would be the largest single source of renewable energy globally, with about double the capacity of China’s Three Gorges Dam, currently the world’s biggest hydropower facility. It would also help boost access to power in sub-Saharan Africa, where more than half the population isn’t connected to the electricity grid. In Congo, about one in five of its near-100 million people have access to power, World Bank data show.
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Grand Inga could be almost double the current planned size, “but we’ve wound down the production in order to make sure the environment is fully protected,” Forrest said on the sidelines of the Bloomberg New Economy Gateway conference in Marrakesh, Morocco. The development would be the largest project in Africa to date, he said.
“We want to do it on a collaborative basis,” Forrest said. “But we can’t wait forever.”
Congo’s government and President Felix Tshisekedi’s office didn’t respond to text messages requesting comment. In January, Tshisekedi told Bloomberg that he wanted Fortescue to allow other investors, especially from Africa, into the project and to consider scaling down its ambitions in order to speed up development.
‘Tremendous Opportunities’
“Once you add on all the tremendous economic opportunities, the huge growth which will come from that, the fact that we’re allocating 12 gigawatts to the communities itself, which will really electrify the Congo basin, it could be in that region,” Forrest said when asked about the $80 billion cost estimate. “But the businesses which come off, the electrification of the Congo basin plus our investment will be at least that much if not much more.”
Earlier at the conference, Forrest said that 2023 is the deadline to reach a deal with the government, or Fortescue could walk away.
“If ink doesn’t go on that contract this year, then we have to inform the president that there’s too many other countries” to develop projects in, he said
Cumquat Cap
Regular
I think it’s real and Cominiere baiting us into saying negative things he can use as ammo, just my opinion and why I blocked that fool
RHyNO
Regular
A supposed governement based mining agency opens a twitter account in March this year and uses it solely to bait AVZ shareholders??? Not likely. It’s an example of how shit cominiere actually are. They have been catfished and aren’t even on to it. This will resolve. In our favour. Or these DRC bad actors will get theirs. No amount of tweeting needed.
Sparrowhawk12
Regular
Agree 100%. Don't give oxygen to the sociopath.
Frank
Top 20
Lualaba: The illegal exploitation of a mine in Kisankala
Following the latest events observed during the violent demonstrations that took place in the village of Kisankala, in the province of Lualaba, on May 18 and 19, 2023, MCP tried to understand the origin of such situations where civilians, demonstrators, been victims of gunfire.
Indeed, we learned, on the spot, that these demonstrations originated from a malaise within the population and mainly within the community of artisanal diggers driven out of certain sites where they used to dig for the benefit of operators of Lebanese nationality.
Tensions reportedly mounted as soon as a young woman was injured by a bullet fired in her leg as gunmen pushed protesters back from sites they were securing.
The most radical of the demonstrators attacked machines and trucks to set them on fire and thus block the activities on the exploitation sites that some call Kalakundi, Sierra or even Motopompe.
Because of this social crisis and this violence, a delegation from the provincial government, led by the Minister of Mines, hastened to the scene the next day to calm people down and promise the diggers that they could work in certain areas of these sites in good agreement with the said Lebanese operators.
Unfortunately, we have seen yet another violent incident between diggers and an industrial mining operator, almost a commonplace case since such situations have been experienced in the province of Lualaba, except that when we study the situation in more depth, we realize that it is a much more disturbing and sensitive fact than that.
The so-called places of Kalakundi, Sierra and Motopompe, are mining areas which are located within a mining perimeter known to the mining cadastre as being the exploitation permit n ° 591 whose holder is the mining company Swanmines, resulting from a partnership between the company Africo Resources DRC and the GCM.
With this information, we took the initiative to contact the representatives of the mining company, holder of the titles, to have their position on these dramatic events in their perimeters.
Although these representatives did not want a direct interview, they nevertheless informed that the perimeter concerned is the subject of industrial spoliation by the said Lebanese operators who have been operating illegally in the sites of Kalakundi, pumping station and Sierra since several months and their protection is ensured by armed elements.
They explain that these illegal operators took over sites by violence and threats via armed men who literally attacked the security guards who were then in post, several months ago.
The reality is that the artisanal mining concession in the perimeter has existed since 2016. But these operators have been driven out and replaced by these new industrial "spoilers".
Complaints have been lodged with the provincial and national authorities, as well as the military, but also at the level of the Palais de la Nation, without however seeing a single concrete action against the despoiling operators, nor the receivers of the stolen minerals that are certain well-known Chinese factories in Lualaba and Katanga.
A legal action would be opened with the general prosecutor's office.
But there too, according to them, it is clear that the operators are so protected that they allow themselves, with their armed men, to oppose any action by the prosecution on the ground.
We hope that the supreme authority and justice will intervene.
"Today, more than 200 trucks of ore leave the deposit a day without any competent authority being concerned," said a company security officer.
The various sources approached, both in the community and within the Swanmines company, all report that it is public knowledge that these operations are organized under the guise of people claiming to be close to power.
They believe they benefit from total impunity from the military and civilian authorities.
One therefore wonders how a provincial minister can promise artisanal diggers and their operators the sharing and exploitation of the sites of the Swanmines company, holder of the PE591 perimeter?
Why is a mining company, holder of mining rights, paying its rights, unable to receive echoes of its complaints to obtain assistance from the competent provincial and national authorities?
How do artisan diggers manage to rise up and burn mining gear after being subjected to an extremely violent push back from the Swanmines concession, without the concessionaire himself being called in to argue before the provincial authorities of the incident observed within its scope?
Why do so many people approached and met tell us that this industrial exploitation is organized for the interests of family members?
Why do the civil and military authorities not seem to respond to letters and requests from Swanmines management?
The events of May 19 are only the tip of the iceberg.
Other incidents are to be feared, because many questions remain open and sensitive in a context where the President of the Republic is shouting at improving the business climate and fighting corruption at all levels.
mediacongo
Looks / sounds like another case of "Who knows Who" in the DRC
"Who's Up Who" - "Who Paid Who & Who Didn't" to me
I could be Wrong, but i doubt it
Food for thought
Frank
Following the latest events observed during the violent demonstrations that took place in the village of Kisankala, in the province of Lualaba, on May 18 and 19, 2023, MCP tried to understand the origin of such situations where civilians, demonstrators, been victims of gunfire.
Indeed, we learned, on the spot, that these demonstrations originated from a malaise within the population and mainly within the community of artisanal diggers driven out of certain sites where they used to dig for the benefit of operators of Lebanese nationality.
Tensions reportedly mounted as soon as a young woman was injured by a bullet fired in her leg as gunmen pushed protesters back from sites they were securing.
The most radical of the demonstrators attacked machines and trucks to set them on fire and thus block the activities on the exploitation sites that some call Kalakundi, Sierra or even Motopompe.
Because of this social crisis and this violence, a delegation from the provincial government, led by the Minister of Mines, hastened to the scene the next day to calm people down and promise the diggers that they could work in certain areas of these sites in good agreement with the said Lebanese operators.
Unfortunately, we have seen yet another violent incident between diggers and an industrial mining operator, almost a commonplace case since such situations have been experienced in the province of Lualaba, except that when we study the situation in more depth, we realize that it is a much more disturbing and sensitive fact than that.
The so-called places of Kalakundi, Sierra and Motopompe, are mining areas which are located within a mining perimeter known to the mining cadastre as being the exploitation permit n ° 591 whose holder is the mining company Swanmines, resulting from a partnership between the company Africo Resources DRC and the GCM.
With this information, we took the initiative to contact the representatives of the mining company, holder of the titles, to have their position on these dramatic events in their perimeters.
Although these representatives did not want a direct interview, they nevertheless informed that the perimeter concerned is the subject of industrial spoliation by the said Lebanese operators who have been operating illegally in the sites of Kalakundi, pumping station and Sierra since several months and their protection is ensured by armed elements.
They explain that these illegal operators took over sites by violence and threats via armed men who literally attacked the security guards who were then in post, several months ago.
The reality is that the artisanal mining concession in the perimeter has existed since 2016. But these operators have been driven out and replaced by these new industrial "spoilers".
Complaints have been lodged with the provincial and national authorities, as well as the military, but also at the level of the Palais de la Nation, without however seeing a single concrete action against the despoiling operators, nor the receivers of the stolen minerals that are certain well-known Chinese factories in Lualaba and Katanga.
A legal action would be opened with the general prosecutor's office.
But there too, according to them, it is clear that the operators are so protected that they allow themselves, with their armed men, to oppose any action by the prosecution on the ground.
We hope that the supreme authority and justice will intervene.
"Today, more than 200 trucks of ore leave the deposit a day without any competent authority being concerned," said a company security officer.
The various sources approached, both in the community and within the Swanmines company, all report that it is public knowledge that these operations are organized under the guise of people claiming to be close to power.
They believe they benefit from total impunity from the military and civilian authorities.
One therefore wonders how a provincial minister can promise artisanal diggers and their operators the sharing and exploitation of the sites of the Swanmines company, holder of the PE591 perimeter?
Why is a mining company, holder of mining rights, paying its rights, unable to receive echoes of its complaints to obtain assistance from the competent provincial and national authorities?
How do artisan diggers manage to rise up and burn mining gear after being subjected to an extremely violent push back from the Swanmines concession, without the concessionaire himself being called in to argue before the provincial authorities of the incident observed within its scope?
Why do so many people approached and met tell us that this industrial exploitation is organized for the interests of family members?
Why do the civil and military authorities not seem to respond to letters and requests from Swanmines management?
The events of May 19 are only the tip of the iceberg.
Other incidents are to be feared, because many questions remain open and sensitive in a context where the President of the Republic is shouting at improving the business climate and fighting corruption at all levels.
mediacongo
Looks / sounds like another case of "Who knows Who" in the DRC
"Who's Up Who" - "Who Paid Who & Who Didn't" to me
I could be Wrong, but i doubt it
Food for thought
Frank
Last edited:
Xerof
Biding my Time 1971
Billionaire Forrest ‘Can’t Wait Forever’ for $80 Billion Congo Hydro Deal
- Grand Inga would be about twice as big as Three Gorges Dam
- Development would be Africa’s biggest investment project yet
Andrew ForrestPhotographer: Hollie Adams/Bloomberg
By
Matthew Hill
+Follow
16 June 2023 at 7:37 pm AEST
Australian mining billionaire Andrew Forrest warned he “can’t wait forever” to seal a deal with the Democratic Republic of Congo for a hydropower and green hydrogen project that would be the biggest investment in Africa yet.
The proposed development on the Congo River would produce at least 40 gigawatts of power — equivalent to almost a quarter of Africa’s total current capacity — and construction could start about 18 months after an agreement is signed, Forrest said in an interview Tuesday. He declined to specify how much capital his company would invest, with previous estimates pegging the cost at $80 billion.
Inga 1, right, and Inga 2 hydroelectric power plants on the Congo river.
Photographer: Marc Jourdier/AFP/Getty Images
“The best way to go is to have a collaboration of investors or partners,” he said. “We’ve made very clear to the Chinese, the Europeans, the Americans, other Asian companies that this is a project of global significance. We can provide the expert management that they rely on to get the project done.”
Grand Inga would be the largest single source of renewable energy globally, with about double the capacity of China’s Three Gorges Dam, currently the world’s biggest hydropower facility. It would also help boost access to power in sub-Saharan Africa, where more than half the population isn’t connected to the electricity grid. In Congo, about one in five of its near-100 million people have access to power, World Bank data show.
The International Finance Corp., the World Bank’s private lending arm, estimated a decade ago that the project would cost $80 billion. Forrest’s company, Fortescue Future Industries Ltd., has never publicly provided any capital cost estimate for the project. The firm plans to use the electricity that Inga would generate to produce green hydrogen for domestic use and export.
READ MORE:
Grand Inga could be almost double the current planned size, “but we’ve wound down the production in order to make sure the environment is fully protected,” Forrest said on the sidelines of the Bloomberg New Economy Gateway conference in Marrakesh, Morocco. The development would be the largest project in Africa to date, he said.
“We want to do it on a collaborative basis,” Forrest said. “But we can’t wait forever.”
Congo’s government and President Felix Tshisekedi’s office didn’t respond to text messages requesting comment. In January, Tshisekedi told Bloomberg that he wanted Fortescue to allow other investors, especially from Africa, into the project and to consider scaling down its ambitions in order to speed up development.
‘Tremendous Opportunities’
“Once you add on all the tremendous economic opportunities, the huge growth which will come from that, the fact that we’re allocating 12 gigawatts to the communities itself, which will really electrify the Congo basin, it could be in that region,” Forrest said when asked about the $80 billion cost estimate. “But the businesses which come off, the electrification of the Congo basin plus our investment will be at least that much if not much more.”
Earlier at the conference, Forrest said that 2023 is the deadline to reach a deal with the government, or Fortescue could walk away.
“If ink doesn’t go on that contract this year, then we have to inform the president that there’s too many other countries” to develop projects in, he said
Well, has Felix bothered to tell Andrew that he's on the outer as far as he's concerned, and the Chinese have been restored to flavour of the month?
Only last week, this is what Kiki reported about A Forrest:
But since his return from his historic visit to China, where he was received by his counterpart President Xi Jinping, Felix Tshisekedi has just changed his position, now pleading to restore the exclusivity of the Inga III project to the Chinese of Three Gorges, from whom he had withdrawn in 2021 for lack of achievement, ceding him to the Fortescue group of Andrew Forrest, who in turn risk being victims of the same playfulness of the DR Congo, as for his compatriots from AVZ MINERALS on the lithium from Manono.
In 2020 and 2021, Félix Tshisekedi seemed to have embraced the cause of Westerners with the Americans in mind, in the war with the Chinese over the monopoly of DR Congo's resources, over Inga III, over Manono's lithium, even granting the license to operation at DATCHOM overseen by the Australians of AVZ, in particular on the battery development project.
But now, for a while now, the Australians of Fortescue and AVZ no longer seem to be part of the Congolese head of state's taste buds, the Congolese head of state would have asked his government to favor a return to the concession of the exclusivity, not only of Inga III, but of the entire extension of the Inga project to the Chinese of Three Gorges.
By Kiki Kienge - June 13, 2023
Seems to me China is pulling out all the stops to prevent Australia Inc doing anything in the DRC, and get themselves back in favour. (and your Airbus Albo wants to be mates with them again FFS)
Wonder if Nigel and Andrew talk much about it?
Winenut
Go AVZ!
I thought it was worldwide known, if Choina builds you a new parliament house`you might as well have your cabinet meetings in Beijing.
Choina collects any information, good or bad, everywhere in the world, even in China.
Having China build your Government offices, especially Government House, with on top of that, ones mobile network being build by Huawei, you might as well invite the Chinese in and offer them tea and bikkies sprinkled with forget me powder.
Not Paranoid here, but have experienced personally.
Marius not posting progress on SM or to every Tom, Dick and Harry is a good sign, should always be that way.
All released info should flow from the BoD under guidance of its lawyers.
Not from idiots like Tommy the twat.
The best is say as less as possible and king hit 'The enemy with cold hard facts right between the eyes, when the time is right'.
In the mean time they will continue to fish, might as well tell them some bullshit and use Tommy the twat as a megaphone tool.
Pity the AFR has allowed this to happen, but nobody told them to throw their name in the gutter, that was their choice.
In other words tellum fukall, only bullshit, spread rumours and continue to repeat the rumours till everybody thinks it is gospel.
(make sure you don't start to believe them yourself!).
We know that Tommy the twat failed bitterly in the DD department, he is too fukkin lazy for that, might as well weaponise that.
Xerof
Biding my Time 1971
I hadn't actually seen it verbalised by anyone until Kiki article either Wino, but the ICSID filing is the result I guess. They can't simply get rid of us because they don't like us.
Kia Kaha
Stay strong
Good to see you back mate.
AVZ takes the DRC to International Arbitration | Daily Mining Show
Not going to mention who postered this on the crapper , but it's a good listen and neutral point of view. Found it interesting on plays over a TO. Some hogwash mixed into it and these guys are just having a crack, but obviously have a massive interest, as most of the podcast is about AVZ. I'll listen to anything that helps me get through these times even if its good, bad or ugly. Forward to the 12 min mark.
Not going to mention who postered this on the crapper , but it's a good listen and neutral point of view. Found it interesting on plays over a TO. Some hogwash mixed into it and these guys are just having a crack, but obviously have a massive interest, as most of the podcast is about AVZ. I'll listen to anything that helps me get through these times even if its good, bad or ugly. Forward to the 12 min mark.
Nellie17
Regular
Can’t be to hard on the boys, AVZ is quite an unbelievable story and confusing as fuck! For me anyway! At least the boys are open to discussion and evidently have done more research then the AFR!
I think it would be great if a knowledgeable shareholder would appear as a guest speaker on there podcast or do a dial in.
Winenut
Go AVZ!
They sort of got some sort of right.... sort of...... but really it's not incisive and it really isn't the whole banana is it
They get a few marks for at least having a bit of a crack at it and getting it into the public domain and they had done some research ....sort of
End of the day the boys would probably be better served doing a podcast on the footy or something of that ilk
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