Le projet Manono est au cœur d’une bataille judiciaire entre l’australien AVZ qui revendique 75 % d’intérêts dans l’actif et Cominière qui
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The DRC entrusts the Chinese Zijin with the development of a lithium project claimed by the Australian company AVZ
- Creation date: October 24, 2023 17:49
(Ecofin Agency) - The Manono project is at the heart of a legal battle between the Australian AVZ, which claims 75% interest in the assets, and Cominière, which indicates the end of its corporate agreement with AVZ. To develop the largest lithium deposit in the DRC, Cominière is now turning to China.
The Chinese company Zijin Mining announced on Monday, October 23 that its joint venture with the Congolese company Cominière has obtained the rights to develop a lithium project northeast of Manono. This project concerns an area still claimed by the Australian company AVZ Minerals, which has filed a legal action against Cominière.
According to the details published on Monday by
Zijin, an exploration license (PR 15775) was granted by the Congolese Ministry of Mines to Manono Lithium SAS, the joint venture between its subsidiary Jinxiang Lithium (which holds 61% interest there) and Cominière.
The agreement between the two parties stipulates that the subsidiary of the Chinese company will lead the exploration, construction and operation of the project and will also be responsible for mobilizing funds to finance the work. Regarding the development schedule, Zijin intends to carry out a feasibility study as soon as possible and then complete the construction of the mine within two years after the feasibility study and obtaining the funds.
"Following a decision by the judicial authority in the DRC and the approvals of the Congolese government, the 100% interest held in the exploration license of the Manono lithium mine (PR 13359) was returned and registered in the name of Cominière. Subsequently, Cominière formally invited the company [Zijin, editor's note]
to jointly explore and develop the northeastern part with the exploration license PR 13359[corresponding to the current exploration license PR 15775]
, "reads the press release published by the company.
It should be noted that the exploration permit PR 13359 mentioned in this statement was previously held by Dathcom, the joint venture between AVZ Minerals and Cominière. The Congolese party obtained an order from the court that granted it 100% interest in permit 13359, which transfer of ownership nevertheless remains contested by AVZ.
"The order was based on the erroneous premise that the Dathcom joint venture agreement had been validly terminated, which was not the case. In addition, Cominière's request for an order had no appropriate legal basis, because there was no legal basis for depriving Dathcom of PR13359 even if the Dathcom joint venture had been terminated, "says the Australian company in a statement dated October 9.
Pending the next developments concerning this case, it is important to note that the Chinese Zijin Mining, Cominière's new partner in Manono, is already engaged in mining in the DRC, especially on the Kamoa-Kakula copper mine (in partnership with Ivanhoe Mines) where 390,000 tons of red metal
are expected this year.
Her interest in Congolese lithium dates back to early 2022 when she announced
the acquisition of two mining permits near the Manono project of the Australian AVZ Minerals. Its announced objective, also supported by other transactions on lithium outside Africa, was then to identify exploitable resources
"in order to improve [its] competitiveness in new energy minerals".
The DRC still does not produce lithium
Manono's lithium deposit is one of the largest untapped lithium reserves in the world. It houses at least 400 million tons of mineral resources titillating 1.65% lithium, according to an estimate by AVZ. Its development should make the DRC a major producer of lithium, strengthening the country's position as a supplier of minerals essential to the energy transition.
When in May 2022, AVZ announced the signing by the then Minister of Mines (Antoinette N'Samba Kalambayi) of a decree to grant an operating permit to the mining company, all the lights seemed to be green. More than a year after this release, the DRC has not made much progress on its way to lithium exploitation, whose global demand is expected to reach nearly 2 million tons in 2030, of which 79% would come from the automotive sector, according to Cochilco.
Louis-Nino Kansoun
