AVZ Discussion 2022

[Samus]

​

DRC: AVZ suffers a heavy defeat in ICC emergency arbitration (Tribune)​

Published
10 seconds ago
we
November 16, 2023

Tribune-On November 16, 2023, according to the latest information, within the framework of ICC emergency arbitration No. 27720/SP (AVZ v. Cominiere), of which AVZ is so proud, the emergency arbitrator rendered his decision :​

(1) to refuse to order the payment of a penalty of 22 million euros;
(2) to significantly reduce the period of validity of its first injunction, and the injunction will expire immediately after the constitution of the final arbitral tribunal;

(3) to reject all other requests from AVZ, including that of tripling the amount of the penalty from €50,000/day to €150,000/day.

It is clear that the court made the right decision in removing the " advantage " claimed by AVZ after being informed of the numerous facts that AVZ had violated DRC law, breached the JV contract and hindered the development of the Manono mine for seven years.
The ICC court made significant changes from the May 2023 injunction.
It is understood that Cominière remains determined to pursue its challenge at the appropriate time and to have an arbitral tribunal formed to defend the interests of the State and its population in the arbitration, and the commercial production as soon as possible of the mine. Manono.
E.M.

RDC : AVZ subit une lourde défaite dans l’arbitrage d’urgence CCI (Tribune)

Tribune-Le 16 novembre 2023, selon les dernières informations, dans le cadre de l’arbitrage d’urgence CCI n° 27720/SP (AVZ contre Cominiere), dont AVZ est si fière, l’arbitre d’urgence a rendu sa décision : (1) de refuser d’ordonner le paiement d’une pénalité de 22 millions d’euros ; (2) de...

zoom-eco.net

 

[Doc]

​

DRC: AVZ suffers a heavy defeat in ICC emergency arbitration (Tribune)​

Published
10 seconds ago
we
November 16, 2023

Tribune-On November 16, 2023, according to the latest information, within the framework of ICC emergency arbitration No. 27720/SP (AVZ v. Cominiere), of which AVZ is so proud, the emergency arbitrator rendered his decision :​

(1) to refuse to order the payment of a penalty of 22 million euros;
(2) to significantly reduce the period of validity of its first injunction, and the injunction will expire immediately after the constitution of the final arbitral tribunal;

(3) to reject all other requests from AVZ, including that of tripling the amount of the penalty from €50,000/day to €150,000/day.

It is clear that the court made the right decision in removing the " advantage " claimed by AVZ after being informed of the numerous facts that AVZ had violated DRC law, breached the JV contract and hindered the development of the Manono mine for seven years.
The ICC court made significant changes from the May 2023 injunction.
It is understood that Cominière remains determined to pursue its challenge at the appropriate time and to have an arbitral tribunal formed to defend the interests of the State and its population in the arbitration, and the commercial production as soon as possible of the mine. Manono.
E.M.

RDC : AVZ subit une lourde défaite dans l’arbitrage d’urgence CCI (Tribune)

Tribune-Le 16 novembre 2023, selon les dernières informations, dans le cadre de l’arbitrage d’urgence CCI n° 27720/SP (AVZ contre Cominiere), dont AVZ est si fière, l’arbitre d’urgence a rendu sa décision : (1) de refuser d’ordonner le paiement d’une pénalité de 22 millions d’euros ; (2) de...

zoom-eco.net

Ahhh the shit fuckery continues…

I look forward to AVZ’s ann of the verdict. Will read much different I reckon.
I wonder what time Tommy the Twats article comes out reiterating the above?

 

[Bin59]

Steve Wembi
@wembi_steve
2h
#DRC: The United States will consider adopting measures, including visa restrictions and other measures, against people violating democracy in the DRC. This could include electoral fraud, corruption, the repression of peaceful demonstrations by force or intimidation of voters, or the violation of human rights in the DRC. The Congolese people deserve to choose their own leaders freely according to a credible and transparent process.



Nov 16, 2023 · 4:07 PM UTC

 

[Samus]

Ahhh the shit fuckery continues…

I look forward to AVZ’s ann of the verdict. Will read much different I reckon.
I wonder what time Tommy the Twats article comes out reiterating the above?

The morons at Cominière seem to be trying to paint their loss as a victory, as corrected by Franck here:



In summary: 1) the arbitrator refused the request to pay a fine of 22 million euros. 2) considerably reduced the scope of its first injunction: Before: this until the delivery of the final award on the merits

That's it. Post the prescription here to prove what you say. It has 62 pages. Otherwise, it confirms the first order securing the Dathcom License until the end of the procedure. A legal victory for AVZ and not the opposite.

 

[Bin59]

Document IGF ; bradages et don des parts de l’État Congolais (COMINIERE SA) dans DATHCOM aux Chinois de ZIJIN et DATHOMIR - Kongo Presse

La cession des 15% des parts sociales de la COMINIERE dans DATHCOM Mining à ZIJIN Mining a été effectuée en violation des dispositions légales sur le désengagement de l’Etat des entreprises du Portefeuille et a causé, au regard des évaluations faites dans l’étude de faisabilité, un manque à...

kongopress.com

"15% of the Congolese people's shares of lithium sold and 5% offered"
NEWSECONOMY

IGF document; sales and donation of the shares of the Congolese State (COMINIERE SA) in DATHCOM to the Chinese of ZIJIN and DATHOMIR​

November 16, 2023
Kiki Kienge

By Kiki Kienge

The challenge of the Congolese lithium deposit of Manono in the province of Tanganyika, in addition to being a matter of the country's development, lithium remains a standoff in international geopolitics on strategic minerals between the Western and Eastern bloc, but especially in DR Congo wolves are devoured for the interests of individuals.

In Australia, the waves continue to shake the waters, AVZ MINERALS the Perth group that has invested everything for the certification and valorization of the Congolese lithium deposit, sees a small group of its shareholders candidates for the management of the group, want and even be in contact with the Chinese of ZIJIN for an agreement on the exploitation of lithium in DR Congo.
But an alliance between AVZ MINERALS and ZIJIN advocated by the small group of AVZ shareholders, would not be in the interest of the shareholders of the Australian group, nor of the Congolese population and companies that risk losing the subcontracting market, that Chinese companies including ZIJIN already in DR Congo never cede to the Congolese as required by the law of the country of Lumumba.

As on the Russian mountains, between the sales of the shares of the joint venture DATHCOM SA, the decisions of the Congolese government and the positions of the leaders of the COMINIERE (Congolese state company), let's say it more Camelonic than referring to the joint venture contract signed with the majority partner, AVZ MINERALS.

The COMINIERE, which has already sold almost the majority of its permits through contracts that often do not go in the interests of the Congolese people and the coffers of the Congolese State, has recently found itself under the projectiles of the General Inspectorate of Finance (IGF), the body of the Presidency of the Congolese Republic, by the report of its investigation into the transfer of the shares of the Congolese taxpayer.
The IGF's control mission at the COMINIERE focused on the three points;

• The sale of the 15% of COMINIERE to ZIJIN Mining: The sale of the 15% of COMINIERE's shares in DATHCOM Mining to ZIJIN Mining was carried out in violation of the legal provisions on the withdrawal of the State of the companies in the Portfolio and caused, in view of the assessments made in the feasibility study, a significant shortfall for the Public Treasury valued at USD 116,560,000.00 (US dollars one hundred and sixteen million five hundred and sixty thousand). It was a real sale of the state's mining heritage for which you assume responsibility.
• The price of the sale of the 15% of the shares of the Congolese State: Of the total amount of the proceeds of the sale of the 15% of the shares which amounts to USD 33,4400,000.00 (U.S. dollars thirty-three million four hundred and forty thousand), you have already used about USD 6,800,000.00 (US dollars six million eight hundred thousand) for operating needs at the expense of productive investments, including USD 5,438,198.00 (U.S. dollars five million four hundred and thirty-eight thousand one hundred and ninety-eight) for commissions, snacks, fees, exceptional remuneration of all those who would have contributed to the operation.
• A free (free) donation of the 5% of DATHCOM SA's shares to DATHCOM by COMINIERE SA: The presumed free and provisional transfer of 5% of COMINIERE's shares in DATHCOM Mining to DATHOMIR Mining Sarl, but only with regard to the transfer contract, was final and irrevocable without the income from the transfer being traced back to COMINIERE.
• The mission also noted the following facts:
  The inability of the Managing Director ai. to provide the management data of the company DATHCOM MINING SA in which COMINIERE SA is a shareholder;
  > The effective non-representATION of COMINIERE SA in the management bodies of DATHCOM MINING SA;
  > The allocation to external partners of juicy shares in joint ventures without them providing proof of guarantee of promised financial contributions;
  > The absence of legal provisions that can justify COMINIERE SA being satisfied with 30% of the shares in the Joint Ventures;
  > The violation, by the Partners of COMINIERE SA, of the contractual provisions prohibiting them from transferring their shares before the date of commercial production without giving rise to any reaction on your part;
  > The choice of consultants FOCUS PLAIDOIRIE, Alpha BUSINESS COMPANY and Association des mandats des mines et carrières, by mutual agreement in violation of public procurement legislation;
  > The transfer of research permits without payment of the transfer price to the COMINIERE while the transfer contract provides for it;
  > Illegal transfers of Mining Securities by Transferees to the detriment of COMINIERE SA;
  > The irregular modification of the Operating Permit by your MMR partner in the SEGMAL Joint Venture in defiance of the interests of COMINIERE SA, but with your complicity.

Document of the IGF report to the Congolese authorities on the investigation at the COMINIERE

 

[Dazmac66]

that is astute of you.

Interested in your thoughts on this 9card(and others), is this a softening from the tribunal? Mixed signals?

 

[Retrobyte]

The morons at Cominière seem to be trying to paint their loss as a victory

They think they're French

 

[Doc]

News headline received for AVZ. Headline reads: AVZ Successfully Restrains Cominiere - CMC Markets Invest Alert.

 

[Dave Evans]

Winebags

Did he give you the mantle ?

The number of blow-ins and emerged posters, newbies and players that have never, ever been seen on this forum before offering opinions and thoughts and the like on the current AVZ situation corresponds ridiculously with the ramp up from the MMGA, creepy skinned, Chinese glove puppet, corrupted arsewipes and their anti-Australian, Simon Cong influenced, CCP funded subversive agenda

The corresponding nearology of the AGM is hardely un-noticed

Absolutely #FuckZijin, #FuckSimonCong, #FuckMMGACorruptMoneyGrubbingFuckingArseholes

#LiberezManono

Was @Winenut worthy of taking the Mantle back Cashy? Worthy of a mention perhaps But the actual Mantle

Perhaps TITS needs to weigh in on that

New AVZ announcement just dropped

 

[TheCount]

 

[Remark]

An extra 50,000 euro per day - nice!

 

[Cumquat Cap]

So just to confirm, it is now 100K euro per day whilst they are acting against the file - that's alot of skrilla for a piss poor organisation like Cominiere

 

[eqtrade]

An extra 50,000 euro per day - nice!

So, since 5th May 23 AVZ has accumulated ~ 9.8m euro so far, then from 15th Nov 23 it will be an extra 50k/day, or a total of 100k/day. This is how I read the announcement.

 

[9cardomaha]

So, since 5th May 23 AVZ has accumulated ~ 9.8m euro so far, then from 15th Nov 23 it will be an extra 50k/day, or a total of 100k/day. This is how I read the announcement.

50k from May 5 to Nov 15.

100k there after.

 

[Thaz]

50k from May 5 to Nov 15.

100k there after.

Enough to pay for the BODs bonuses?

 

[Cumquat Cap]

That's good news, hope this is the catalyst for Zijin to finally give up although don't hold your breath

 

[Dazmac66]

Interested in your thoughts on this 9card(and others), is this a softening from the tribunal? Mixed signals?

Withdrawn!

 

[Carlos Danger]

View attachment 49677 View attachment 49678 View attachment 49679

But muh force majeure

 

[Samus]

LykShares ​

Breaking News: AVZ Minerals Scores Victory in ICC Arbitration with Cominière​

AVZ Minerals Successfully Restraints Cominière in Ongoing ICC Arbitration

In a continued battle against La Congolese D’Exploitation Minière (Cominière), AVZ Minerals is making significant progress. The company has obtained emergency relief and additional updates from the International Chamber of Commerce (ICC) in Paris concerning its joint venture agreement with Dathcom Mining SA (Dathcom). This latest development further solidifies AVZ's position and restrains Cominière from implementing its purported termination.

Imposing Penalty on Cominière

Back in May 2023, AVZ's subsidiaries secured emergency relief from the ICC, ordering Cominière to pay a penalty of €50,000 per day if it attempted to terminate the joint venture agreement with Dathcom. However, despite the initial ruling, Cominière proceeded with its purported termination of the agreement, prompting AVZ's subsidiaries to apply for further emergency relief.

ICC's Decision and Ruling

On November 9, 2023, AVZ's application for additional emergency relief was heard by the ICC. Six days later, on November 15, the ICC emergency arbitrator rendered a favorable decision in AVZ's favor. The ruling outlined the following orders against Cominière:

Cominière must refrain from exploring and exploiting PR 13359 and PR 15775, directly or indirectly, until the ICC tribunal in charge of determining the validity of the termination of the Dathcom joint venture agreement evaluates the matter.
Cominière is obligated to pay a fine of €50,000 per day for any non-compliance with the aforementioned order.
Cominière is responsible for covering the ICC's administrative costs and a portion of the legal costs incurred by AVZ's subsidiaries.

Furthermore, the ICC emergency arbitrator rejected Cominière's request to set aside the emergency order issued on May 5, 2023. Consequently, the daily penalty of €50,000 for non-compliance with the initial emergency order remains in effect, while the new penalty for non-compliance with the latest ruling is now being added.

AVZ's Continued Efforts

AVZ Minerals is pleased with the latest development in the ongoing ICC arbitration proceedings against Cominière. The company remains steadfast in protecting its joint venture agreement with Dathcom and preventing any actions that could jeopardize its interests. AVZ continues to diligently pursue its legal rights and will closely monitor Cominière's conduct moving forward.

Looking Ahead

With the ICC emergency arbitrator's recent ruling and penalties imposed on Cominière, AVZ Minerals is confident in its ability to maintain the integrity of its joint venture agreement with Dathcom. As the arbitration process progresses, AVZ will remain dedicated to securing a favorable outcome and safeguarding its position in the ongoing legal dispute.

In conclusion, AVZ Minerals Limited has effectively restrained Cominière from implementing its purported termination of the joint venture agreement with Dathcom. Through the recent ICC emergency arbitrator ruling and the imposed penalties, AVZ showcases its commitment to upholding its rights and protecting its joint venture interests. The company looks forward to gaining further ground in the ongoing arbitration proceedings and ensuring a fair resolution.

https://lykshares.com/post/breaking-news-avz-minerals-scores-victory-in-icc/d1573a51-540a-4cd7-9198-c8d2d8276be6/

 

[eqtrade]

50k from May 5 to Nov 15.

100k there after.

If Cominiere doesn't violate the latest compliance, it's still only $50k per day until ICC tribunal rules the termination of Dathcom JVA invalid/violated. The good news is (from the announcement):

"Among other findings, the ICC emergency arbitrator:
• concluded Cominière had deliberately concealed it had sought and obtained a ruling from the Kalemie High Court in the DRC on 3 May 2023 in respect of the purported dissolution of Dathcom; and
• indicated Cominière’s position on the termination of the Dathcom JVA was seemingly based on an erroneous interpretation of Article 18.3 of the Dathcom JVA."

so, 10 of millions of euro is rolling in AVZ. When will ICC tribunal determine the validation of the termination?