@GuruDukun posted the article and link below earlier today and I put it here for the time being for reference.
I acquired more information today on various things and I’m glad
@9cardomaha[/USER [USER=2435]@Carlos Danger and others already provided the info on Zijin and the Mpiana Mwanga power plant.
As far as the article below and the conversation about Zijin and the hydro power plant…. shareholders should know that Zijin is very much part of the plan of the Chinese backed BOD nominees and Zijin have recently started promoting themselves on Twitter as they play their part along with the other Chinese backed stooge nominees trying to roll our BOD.
The stooge nominees (MMGA) aren’t far from putting out more of the same usurping commentary (under the heading ‘shareholder communication’).
The fact the article below alludes to Zijin, Huayou, Yibin Tianyi being involved makes me wonder if this is another piece in their campaign, as we all know Yibin and Huayou want a seat on the BOD but would no doubt settle for the Chinese stooges who have been promised millions of shares to play their roles.
Whether or not the article has been contributed by the stooges (MMGA), I don’t know, but I know now is the time time to keep the pressure on them
Remember we are not just dealing with Zijin and Cominiere, we are dealing with a whole lot of corrupt entities trying to take control of the project. And just to be clear, I have evidence to back everything I tell shareholders here
Attention!The world's largest lithium mine has obtained a mining license, and many Chinese lithium giants are involved
2023-10-17 08:28
It is understood that domestic lithium industry giants such as Huayou Cobalt, Zijin Mining, Ningde Times, and Tianyi Lithium are all involved! What is the "magic" of the Manono lithium-tin project in Congo (DRC)?
Lithium, as the "white oil" in the new era, is of great importance. With the transformation of global energy, the battle for lithium resources has become a "war" that countries cannot lose. The Manono lithium-tin project in Congo (DRC), as one of the hard rock lithium deposits with the largest reserves and the highest grade , has naturally become a "star" in the market.
According to AVZ's July 2021 feasibility study report, the Manono project has ore reserves of 131.7 million tons, with an average Li2O grade of 1.63%, equivalent to 5.36 million tons of LCE. If it is compared with the current spodumene project horizontally, its resources are second only to Pilbara Pilgangoora and Talison, whose resources are equivalent to 6.93 million tons and 6.9 million tons of LCE respectively, making it the third largest lithium ore project in the world.
The project is initially designed to produce 700,000 tons of spodumene concentrate (SC6), of which 153,000 tons will be processed into 45,000 tons of primary lithium sulfate (PLS), and the remaining 547,000 tons will be sold directly. Associated products include tantalum and niobium. The latest report shows that the production capacity of the Manono mine will be expanded from the previous 700,000 tons of SC6 lithium concentrate to 1.6 million tons, and the service life will be expanded from 20 years to 29.5 years.
Compared with the development of the new lithium salt lake project, the lithium mine project is relatively flexible and has a short investment cycle. Under the circumstance that the global high-quality lithium mine resources have been divided up, the new lithium mine project can be described as the "sweet pastry" of the market.
The Manono lithium-tin mine project is jointly held by Australian AVZ and Congolese (DRC) state-owned company Cominiere, with the former accounting for 75% and the latter 25%.
In September 2021, Tianhua Times ( 75 % of Tianhua Energy / 25% of CATL) reached an agreement with AVZ of Australia to inject US$240 million (about 1.5 billion yuan) into Manono in Congo (DRC). For the project, Tianhua Times will also acquire 24% of the equity of the project company, while AVZ will retain 51% of the equity, and the remaining 25% will be held by the Congolese state-owned company Cominiere.
According to the latest agreement, in the future, the Congolese (DRC) state-owned company Cominiere will cede 10% of its equity to the Congolese (DRC) government, while the remaining 15% stake it holds is subject to disputes and discussions, mainly Zijin Mining and In the dispute between the two Australian AVZ companies, Zijin Mining wants to enter the market, while AVZ's equity has been continuously diluted after the introduction of strategic investment. To consolidate its position in the project, it must increase its equity ratio.
In July last year, Zijin Mining reached an agreement with Cominier through its wholly-owned subsidiary Jincheng Mining to purchase 15% of its shares at a price of US$33 million. According to Zijin Mining's annual report, as of December 31, 2021, Zijin Mining has paid $501,600. But AVZ was very dissatisfied with this and protested, saying that it will continue to take all necessary actions to resist these "unreasonable" and "baseless" transfers and protect the interests of the project.
At present, the identity of Zijin Mining in the project is still uncertain. But in addition to this project, Zijin Mining also signed a cooperation plan with Cominiere to develop the mining rights PE12453 and PE13427 outside the Manono lithium mine, and obtained two greenfield exploration and mining rights projects outside the Manono project.
It is worth noting that as of the end of February this year, domestic Tianhua Times and Tianyi Lithium (a joint venture between Tianhua Ultraclean and Ningde Times) jointly held 7.29% of the shares of Australian AZV, and were its largest shareholders. Huayou International Mining (Hong Kong) Co., Ltd., a wholly-owned subsidiary of Friends Cobalt, also holds a 6.27% stake in AVZ and is its third largest shareholder.
On the whole, AVZ has obtained the mining license of the Manono lithium-tin mine project this time, and Tianhua Times will obtain a 24% stake in the project. As a major shareholder of AVZ and a project participant, it can be described as a "win-win". He Ningde era will benefit, Huayou Cobalt's investment will also be rewarded, and Zijin Mining has a high probability of obtaining a 15% interest in the Manono lithium-tin mine project, which will also benefit.
According to the plan, the Manono lithium mine project is expected to be put into production in 2023. Although it has not been put into production at present, its concentrate has already been divided up by Chinese lithium enterprises.
In December 2020, AVZ Mining signed a lithium concentrate supply agreement with Ganfeng International, a wholly-owned subsidiary of Ganfeng Lithium Industry, with an annual supply of up to 160,000 tons; In March 2021, AVZ Mining and Tianyi Lithium, a wholly-owned subsidiary of Tianhua Chaojing, signed the "Lithium Concentrate Contract". According to the purchase agreement, Tianyi Lithium will purchase 200,000 dry metric tons of spodumene concentrate each year, and then the rights and obligations of the purchase agreement will be transferred to Tianhua
