Samus
Top 20

NEWSECONOMY
Manono lithium: Here are the law firms of ZIJIN and COMINIERE who requested a postponement from the ICC for their own complaint
July 11, 2023Kiki Kienge
By Kiki Kienge
COMINIERE and ZIJIN had seized the International Chamber of Commerce in Paris (CCI) to claim damages from AVZ MINERALS, US$850 million for Jin Cheng (ZIJIN) and US$566 million for COMINIERE, for a total of US$1,416,000,000, notably requesting the termination of the DATHCOM joint venture.
QUID: How did the ZIJIN group feel aggrieved by AVZ MINERALS in DATHCOM if the 15% purchased from COMINIERE was deemed illegal by the IGF, the financial inspection body of the Presidency of the Republic in DR Congo?
Now the Chinese group ZIJIN "in partnership with COMINIERE" associated in the complaint, has just requested a new postponement in the arbitration in Paris requested by themselves.
The reason would be, according to the Chinese mining giant, a necessary need for time to prepare to properly respond to the allegations of the IGF report which accuses it of having violated Congolese law by its attempt to buy 15% of the shares. de la COMINIERE at a price of US$33,400,000 than US$150,000,000 of its market value.
Some reactions on social networks:
Cybelle Kamba Kabasu ;
“The exploitation of #Lithium has been delayed enough because of the bad faith of the CominiereS, it is however urgent to end the arbitration and make Manono benefit from this new start…. »
August V. Cohen ;
“That's not realistic, Mrs. Cybelle.
This postponement request will be refused because no extenuating circumstances authorize a new postponement. The referees will see this as a delaying tactic and will dismiss the request. Zijin then risks losing and Cominière will receive a very large fine. Once this is done, AVZ will file a lawsuit in federal court in Washington DC against Cominiere. The Paris court allows the plaintiffs to sue in US courts to demand payment of the fine. Given the evidence, he will likely lose the case in America as well…
It is time for the DRC government to reach an agreement with the Chinese and the Austrians to solve this problem because AVZ is now on the warpath and will not give up. »
THE LAWYERS
For ZIJIN:
De Gaulle Fleurance & Associés law firms.
Fasken Martineau DuMoulin
For COMINIERE:
The Congolese firm Muamba Mukengeshayi & Associés.
The procedure had been launched jointly before the International Chamber of Commerce of Paris (ICC) between COMINIERE and the ZIJIN group.

Manono lithium : Voici les cabinets d'avocats de ZIJIN et COMINIERE qui ont demandé un report à l'ICC pour leur propre plainte - Kongo Presse
Le motif serait selon le géant minier Chinois, un besoin nécessaire de temps pour se préparer à bien répondre aux allégations du rapport de l’IGF qui l'accuse d'avoir lésé la loi Congolaise par sa tentative d'achat des 15% des parts de la COMINIERE au prix de 33.400.000 $US que 150.000.000 $US...
