AVZ Discussion 2022

[BEISHA]

Hi evergone,

Thanks @9cardomaha for your valuable insights. A few, i beg to differ, as below:

The screenshot below is from Nov-15-2023 ICC Opinion/Order.

Good morning /afternoon,

Thanks David for the HC screenshots.

There is no legal loophole that C. and/or Z. could exploit from the 62 page Nov-15 ICC Order.

You are making sound deductions from facts and laws, however, i feel, you did not or may have not accurately deduced meaning of the two non-ambigous words (in red, screenshot).

We are not talking about whether Dathcom JV termination is legal or illegal, that is what ICC said. We are merely focussing on that 15775 is a JV entity with 61-39 between Z. And C. And therefore by virtue of this Z. majority owned Manono lithium, any work by C. is in DIRECT violation AND/OR any work by Z. leads to C. in INDIRECT violation of the Order.

There is NO loophole, Courts in Injunctive cases mostly Order blanket statements such as this highlighted in the above picture for the ONLY reason that any remote interpretation or a corner-case exception should be avoided by all parties.

Finally, in non-legal layman terms, because Manono Lithium is a 61-39 JV, work done by Z. that results in gainful progress of the 15775 tenaments DIRECTLY benefits C. and hence C. violates the Arb. Order.

This quote "Cominiere is enjoined from taking any action ..." (from above) came in the ICC first grant of AVZ injunction (April 2023) - after which Dathcom dissolved and 15775 established - this is direct violation by C.

That is why, AVZ submitted $19m from accured daily fines started April and ending Nov-15.

In May-2023, C. dissolved dathcom. After that happens, when it happens, who does and what he does are ALL moot issues. The starting damage is done and is irrversible, irrevokable and non-trivial. Period.

From global lawyer on X, below:

"So even if Zijin's work on the licences could not be directly attributed to Cominiere, the mere fact that they have become part of a new JV "Manono Lithium" is a violation of the judgment and causes damages. Whether the penalty is triggered once, twice or three times cannot be said with certainty. For that we would need to know the court's practice."

"It is completely irrelevant what happened afterwards. The first offence was the dissolution of Dathcom and the creation of Manono Lithium and the collaboration with Cami and MoP to get the Zijin/Cominière joint venture up and running and registered in the cadastre. It is completely irrelevant who is now carrying out which field work."
--------------------

I must say, its great to have another legal eagle here along with @9cardomaha and @Carlos Danger , welcome to TSE Netoo !

So just to further dumb this down for the simple pricks like me.......

There is NO loophole

According to Emergency arbitration rulings as per ICC, Cominiere are in breach for terminating the Dathcom JV and introducing another JV ....Manono lithium (Zijin 69% - Cominiere 39% )

Any works done by Zijin on PR13359 / and or PR15775 is a indirect violation of the emergency arbitration ruling , therefore Cominiere is in direct breach of the ruling as per above statement.

So either way, Cominiere are directly screwed and Zijin, (being majority shareholder of the newly formed illegal JV) are complicit against the emergency ruling, therefore screwed as well..........no loop hole.

Is that about right ?

As a side note...

There were reports that Zijin have employed a 7 rig exploration operation, in my discussions with the BOD, they were hoping that each rig operation would incrue a $50k a day penalty, but alas, that is not the case, its just a cumulative $50k a day breach despite if multiple actions occur per day.....

On top of all the fuckery that puzzles and blows me away with this shit show , why hasnt the newly formed MANONO LITHIUM JV included a free carry percentage to the DRC govt ?

I would of thought if FT was complicit in this newly formed JV, that he would of insisted on a minimum 10% free carry cut as per the previous Dathcom JV...

Why hasnt FT objected to this illegal under taking by Cominiere or is he setting up CK to be the fall guy ?

Care to comment ?

imo

 

[cruiser51]

I must say, its great to have another legal eagle here along with @9cardomaha and @Carlos Danger , welcome to TSE Netoo !

So just to further dumb this down for the simple pricks like me.......

There is NO loophole

View attachment 52116

According to Emergency arbitration rulings as per ICC, Cominiere are in breach for terminating the Dathcom JV and introducing another JV ....Manono lithium (Zijin 69% - Cominiere 39% )

Any works done by Zijin on PR13359 / and or PR15775 is a indirect violation of the emergency arbitration ruling , therefore Cominiere is in direct breach of the ruling as per above statement.

So either way, Cominiere are directly screwed and Zijin, (being majority shareholder of the newly formed illegal JV) are complicit against the emergency ruling, therefore screwed as well..........no loop hole.

Is that about right ?

As a side note...

There were reports that Zijin have employed a 7 rig exploration operation, in my discussions with the BOD, they were hoping that each rig operation would incrue a $50k a day penalty, but alas, that is not the case, its just a cumulative $50k a day breach despite if multiple actions occur per day.....

On top of all the fuckery that puzzles and blows me away with this shit show , why hasnt the newly formed MANONO LITHIUM JV included a free carry percentage to the DRC govt ?

I would of thought if FT was complicit in this newly formed JV, that he would of insisted on a minimum 10% free carry cut as per the previous Dathcom JV...

Why hasnt FT objected to this illegal under taking by Cominiere or is he setting up CK to be the fall guy ?

Care to comment ?

imo

Just went to the Zijin website:

Zijin Mining was invited to lead the exploration and development of the world-class lithium mine Manono Northeast Project
return
2023/10/24 6162

Manono Lithium Mine
This website news On October 23, Zijin Mining obtained the exploration rights for the northeastern Manono lithium project approved by the Ministry of Mines of the Democratic Republic of the Congo. The mine is the world’s largest discovered mine. One of the largest open-pit exploitable lithium-rich LCT (lithium, cesium, tantalum) pegmatite deposits.
Zijin Mining stated that although the Manono Lithium Mine is a "greenfield" project, it is located in a good lithium resource mineralization belt with huge ore prospecting potential. It has the conditions for large-scale open-pit development and good development prospects. Zijin Mining relies on its mature independent geology The prospecting and exploration capabilities are expected to achieve an important breakthrough in the exploration of spodumene pegmatite resources. Zijin Mining will invest sufficient funds and technical support based on actual needs to promote the exploration and development of the project.
It is understood that, following the judgment of the judicial authorities of the Democratic Republic of the Congo and the approval of government agencies, 100% of the exploration rights of the Manono lithium mine No. PR13359 has been returned and registered in the name of COMINIERE (Congolese Mining Development Co., Ltd.). Subsequently, COMINIERE invited the company to cooperate in the exploration and development of the northeastern part of the exploration rights, and the two parties established a joint venture, Manono Lithium Industry.
According to the joint venture agreement, the two parties hold the northeastern part of the exploration right project (No. PR15775 exploration right) through the joint venture Manono Lithium Industry. Zijin Mining holds 61% of the joint venture company through its overseas subsidiary Jinxiang Lithium Industry, and COMINIERE holds 39% equity. The two parties agreed to directly exchange the company's 15% stake in Dathcom for the 61% equity interest in the project company held by Jinxiang Lithium.
The agreement stipulates that Jinxiang Lithium will lead the geological exploration, development, construction and operation management of the project. Previously, Zijin Mining has obtained the development rights of the Mpiana-Mwanga hydropower station near the mining area through public bidding, which will provide sufficient low-carbon power guarantee for the development of the project.
The project plans to complete the project construction as soon as possible within 2 years after the feasibility study and financing plan are determined, and simultaneously build a lithium smelting industrial park. The products will be given priority to downstream enterprises in the Democratic Republic of the Congo in accordance with market-oriented principles. After the project is developed and completed, it will become one of the world's leading lithium production bases and better promote the economic and social development of the Democratic Republic of the Congo.
Zijin Mining actively embraces the new energy revolution and is committed to providing low-carbon mineral raw materials for a better life for mankind. In 2021, it strategically deployed the new energy industry to form the 3Q lithium salt lake in Argentina, the Laguotso Salt Lake lithium mine in Tibet, and Xiangyuan hard rock in Dao County, Hunan. The lithium mine's "two lakes and one mine" pattern controls more than 12.15 million tons of lithium carbonate equivalent, ranking 9th in the world and 3rd in the country. It plans to form a lithium carbonate production capacity of 120,000-150,000 tons in 2025.
Since 2014, Zijin Mining has successively built and put into operation large-scale mines such as the Kolwezi Copper Mine and the Kamoa-Kakula Copper Mine in the Democratic Republic of the Congo, with a cumulative investment of more than US$2 billion and providing more than 6,800 local jobs. Being invited to participate in the project's cooperative exploration and development this time is mainly based on Zijin Mining's efficient construction and operation management capabilities and excellent ESG concepts and practices in the Democratic Republic of the Congo. After the project is developed and completed, it will become one of the world's leading lithium production bases, provide high-quality low-carbon metal raw materials to combat climate change, further promote the economic and social development of the Democratic Republic of the Congo and local communities, and boost Zijin Mining Join the ranks of the world's leading lithium producers.

Thank you very much for the recognition of what Zijin stole, that about 50% of Manono 13359 is worth so much.

It makes it so much more believable to put the real value on the entire project when going for damages.
Several jaws will hit the deck when the damages claim is presented.

Fuck thieving Zijin, they should be kicked out of Australia ASAFP as persona non grata.

 

[BEISHA]

Just went to the Zijin website:

Zijin Mining was invited to lead the exploration and development of the world-class lithium mine Manono Northeast Project
return
2023/10/24 6162

Manono Lithium Mine
This website news On October 23, Zijin Mining obtained the exploration rights for the northeastern Manono lithium project approved by the Ministry of Mines of the Democratic Republic of the Congo. The mine is the world’s largest discovered mine. One of the largest open-pit exploitable lithium-rich LCT (lithium, cesium, tantalum) pegmatite deposits.
Zijin Mining stated that although the Manono Lithium Mine is a "greenfield" project, it is located in a good lithium resource mineralization belt with huge ore prospecting potential. It has the conditions for large-scale open-pit development and good development prospects. Zijin Mining relies on its mature independent geology The prospecting and exploration capabilities are expected to achieve an important breakthrough in the exploration of spodumene pegmatite resources. Zijin Mining will invest sufficient funds and technical support based on actual needs to promote the exploration and development of the project.
It is understood that, following the judgment of the judicial authorities of the Democratic Republic of the Congo and the approval of government agencies, 100% of the exploration rights of the Manono lithium mine No. PR13359 has been returned and registered in the name of COMINIERE (Congolese Mining Development Co., Ltd.). Subsequently, COMINIERE invited the company to cooperate in the exploration and development of the northeastern part of the exploration rights, and the two parties established a joint venture, Manono Lithium Industry.
According to the joint venture agreement, the two parties hold the northeastern part of the exploration right project (No. PR15775 exploration right) through the joint venture Manono Lithium Industry. Zijin Mining holds 61% of the joint venture company through its overseas subsidiary Jinxiang Lithium Industry, and COMINIERE holds 39% equity. The two parties agreed to directly exchange the company's 15% stake in Dathcom for the 61% equity interest in the project company held by Jinxiang Lithium.
The agreement stipulates that Jinxiang Lithium will lead the geological exploration, development, construction and operation management of the project. Previously, Zijin Mining has obtained the development rights of the Mpiana-Mwanga hydropower station near the mining area through public bidding, which will provide sufficient low-carbon power guarantee for the development of the project.
The project plans to complete the project construction as soon as possible within 2 years after the feasibility study and financing plan are determined, and simultaneously build a lithium smelting industrial park. The products will be given priority to downstream enterprises in the Democratic Republic of the Congo in accordance with market-oriented principles. After the project is developed and completed, it will become one of the world's leading lithium production bases and better promote the economic and social development of the Democratic Republic of the Congo.
Zijin Mining actively embraces the new energy revolution and is committed to providing low-carbon mineral raw materials for a better life for mankind. In 2021, it strategically deployed the new energy industry to form the 3Q lithium salt lake in Argentina, the Laguotso Salt Lake lithium mine in Tibet, and Xiangyuan hard rock in Dao County, Hunan. The lithium mine's "two lakes and one mine" pattern controls more than 12.15 million tons of lithium carbonate equivalent, ranking 9th in the world and 3rd in the country. It plans to form a lithium carbonate production capacity of 120,000-150,000 tons in 2025.
Since 2014, Zijin Mining has successively built and put into operation large-scale mines such as the Kolwezi Copper Mine and the Kamoa-Kakula Copper Mine in the Democratic Republic of the Congo, with a cumulative investment of more than US$2 billion and providing more than 6,800 local jobs. Being invited to participate in the project's cooperative exploration and development this time is mainly based on Zijin Mining's efficient construction and operation management capabilities and excellent ESG concepts and practices in the Democratic Republic of the Congo. After the project is developed and completed, it will become one of the world's leading lithium production bases, provide high-quality low-carbon metal raw materials to combat climate change, further promote the economic and social development of the Democratic Republic of the Congo and local communities, and boost Zijin Mining Join the ranks of the world's leading lithium producers.

Thank you very much for the recognition of what Zijin stole, that about 50% of Manono 13359 is worth so much.

It makes it so much more believable to put the real value on the entire project when going for damages.
Several jaws will hit the deck when the damages claim is presented.

Fuck thieving Zijin, they should be kicked out of Australia ASAFP as persona non grata.

Sorry Cruiser , but the only response i have to that article is this........

 

[cruiser51]

Sorry Cruiser , but the only response i have to that article is this........


View attachment 52119

View attachment 52120

I tried to drill further on their website, but no more happy pictures.
When I tried I found that further access is blocked.

 

[Carlos Danger]

Hi evergone,

Thanks @9cardomaha for your valuable insights. A few, i beg to differ, as below:

The screenshot below is from Nov-15-2023 ICC Opinion/Order.

Good morning /afternoon,

Thanks David for the HC screenshots.

There is no legal loophole that C. and/or Z. could exploit from the 62 page Nov-15 ICC Order.

You are making sound deductions from facts and laws, however, i feel, you did not or may have not accurately deduced meaning of the two non-ambigous words (in red, screenshot).

We are not talking about whether Dathcom JV termination is legal or illegal, that is what ICC said. We are merely focussing on that 15775 is a JV entity with 61-39 between Z. And C. And therefore by virtue of this Z. majority owned Manono lithium, any work by C. is in DIRECT violation AND/OR any work by Z. leads to C. in INDIRECT violation of the Order.

There is NO loophole, Courts in Injunctive cases mostly Order blanket statements such as this highlighted in the above picture for the ONLY reason that any remote interpretation or a corner-case exception should be avoided by all parties.

Finally, in non-legal layman terms, because Manono Lithium is a 61-39 JV, work done by Z. that results in gainful progress of the 15775 tenaments DIRECTLY benefits C. and hence C. violates the Arb. Order.

This quote "Cominiere is enjoined from taking any action ..." (from above) came in the ICC first grant of AVZ injunction (April 2023) - after which Dathcom dissolved and 15775 established - this is direct violation by C.

That is why, AVZ submitted $19m from accured daily fines started April and ending Nov-15.

In May-2023, C. dissolved dathcom. After that happens, when it happens, who does and what he does are ALL moot issues. The starting damage is done and is irrversible, irrevokable and non-trivial. Period.

From global lawyer on X, below:

"So even if Zijin's work on the licences could not be directly attributed to Cominiere, the mere fact that they have become part of a new JV "Manono Lithium" is a violation of the judgment and causes damages. Whether the penalty is triggered once, twice or three times cannot be said with certainty. For that we would need to know the court's practice."

"It is completely irrelevant what happened afterwards. The first offence was the dissolution of Dathcom and the creation of Manono Lithium and the collaboration with Cami and MoP to get the Zijin/Cominière joint venture up and running and registered in the cadastre. It is completely irrelevant who is now carrying out which field work."
--------------------

Thanks Netoo, your points are valid - i was only trying to state that Z believe they have a loophole, hence why they continue to work and are disregarding the injunction. I agree with your points, DLA definitely ontop of this, but those arguments are not for this current period (only once the tribunal has been established at ICC...


I've had the same concern, even if damages amount to 150mil and Z foots the bill, its still a steal for what Manono holds. But i've mentioned previously that the idiots already valued it for us with that claim of $1b+ for 25% essentially, so our 60% can easily be argued in the damages count of $2.4b and upwards.

All in all, i am just providing my own thoughts - I trust in DLA to bring it all home. There are so many moving parts its not just about focusing on what is occurring in a single case, but the entire shitstorm which is the days of our DRC lives.

It seems that AVZ without prejudice to our position has agreed to have an Arbitration session before ICSID hands down a ruling
Possibly Other parties conceding and giving in to avoid the ICSID decision becoming public and the whole corruption story unfolding in DRC
We clearly have the upper hand in proceedings, so this may be a chance for DRC to rebuild working relationship
AVZ should release a ASX update if this in fact what they have agreed too.
Personally would prefer that they proceed without arbitration session to let the corrupt parties be jailed and put in a firing line based on ICSID outcome.
ICSID would have handed their decision down by next Friday, this may have delayed that process.
There should be no compassion from AVZ as we didn't break the law

I must say, its great to have another legal eagle here along with @9cardomaha and @Carlos Danger , welcome to TSE Netoo !

So just to further dumb this down for the simple pricks like me.......

There is NO loophole

View attachment 52116

According to Emergency arbitration rulings as per ICC, Cominiere are in breach for terminating the Dathcom JV and introducing another JV ....Manono lithium (Zijin 69% - Cominiere 39% )

Any works done by Zijin on PR13359 / and or PR15775 is a indirect violation of the emergency arbitration ruling , therefore Cominiere is in direct breach of the ruling as per above statement.

So either way, Cominiere are directly screwed and Zijin, (being majority shareholder of the newly formed illegal JV) are complicit against the emergency ruling, therefore screwed as well..........no loop hole.

Is that about right ?

As a side note...

There were reports that Zijin have employed a 7 rig exploration operation, in my discussions with the BOD, they were hoping that each rig operation would incrue a $50k a day penalty, but alas, that is not the case, its just a cumulative $50k a day breach despite if multiple actions occur per day.....

On top of all the fuckery that puzzles and blows me away with this shit show , why hasnt the newly formed MANONO LITHIUM JV included a free carry percentage to the DRC govt ?

I would of thought if FT was complicit in this newly formed JV, that he would of insisted on a minimum 10% free carry cut as per the previous Dathcom JV...

Why hasnt FT objected to this illegal under taking by Cominiere or is he setting up CK to be the fall guy ?

Care to comment ?

imo

I think the loophole 9card was referring to is only relative to the ICSID. Zijin's lawyers are most likely arguing that the court is being asked in this current pre hearing if work shall be halted so until we get an answer they have every right to continue as the ICC order is against Cominiere not the DRC government. If the DRC government win at the ICSID then Dathcom lose the tenement so that would trump the ICC matters imo

Although if we really have gone into negotiations for a deal then perhaps none of this will matter soon. Let's see what Santa brings. I've got the champagne on ice ready to go.

 

[robface]

It seems that AVZ without prejudice to our position has agreed to have an Arbitration session before ICSID hands down a ruling
Possibly Other parties conceding and giving in to avoid the ICSID decision becoming public and the whole corruption story unfolding in DRC
We clearly have the upper hand in proceedings, so this may be a chance for DRC to rebuild working relationship
AVZ should release a ASX update if this in fact what they have agreed too.
Personally would prefer that they proceed without arbitration session to let the corrupt parties be jailed and put in a firing line based on ICSID outcome.
ICSID would have handed their decision down by next Friday, this may have delayed that process.
There should be no compassion from AVZ as we didn't break th

It seems that AVZ without prejudice to our position has agreed to have an Arbitration session before ICSID hands down a ruling
Possibly Other parties conceding and giving in to avoid the ICSID decision becoming public and the whole corruption story unfolding in DRC
We clearly have the upper hand in proceedings, so this may be a chance for DRC to rebuild working relationship
AVZ should release a ASX update if this in fact what they have agreed too.
Personally would prefer that they proceed without arbitration session to let the corrupt parties be jailed and put in a firing line based on ICSID outcome.
ICSID would have handed their decision down by next Friday, this may have delayed that process.
There should be no compassion from AVZ as we didn't break the law

Am I missing something. Where does it suggest we have had an arbitration session?

 

[Xerof]

Am I missing something. Where does it suggest we have had an arbitration session?

I suggest you read Filthys post a couple of times to fully appreciate what he has said

 

[Xerof]

I tried to drill further on their website, but no more happy pictures.
When I tried I found that further access is blocked.

Another of their publicity pieces, just like the one for the 15% of Dathcom acquisition

They are so full of shit

 

[FilthyRich2]

Go to the ICSID website
Hover on the (i) referred to by

9cardomaha​

Its not possible to take a screenshot or snipe by me

It indicates that a new Action has been initiated by AVZ recently that is outside the procedural timeline

 

[robface]

Go to the ICSID website
Hover on the (i) referred to by

9cardomaha​

Its not possible to take a screenshot or snipe by me

It indicates that a new Action has been initiated by AVZ recently that is outside the procedural timeline

Thanks

 

[BEISHA]

I think the loophole 9card was referring to is only relative to the ICSID. Zijin's lawyers are most likely arguing that the court is being asked in this current pre hearing if work shall be halted so until we get an answer they have every right to continue as the ICC order is against Cominiere not the DRC government. If the DRC government win at the ICSID then Dathcom lose the tenement so that would trump the ICC matters imo

Although if we really have gone into negotiations for a deal then perhaps none of this will matter soon. Let's see what Santa brings. I've got the champagne on ice ready to go.

View attachment 52127

ICC order is against Cominiere not the DRC government. If the DRC government win at the ICSID then Dathcom lose the tenement so that would trump the ICC matters imo

Talk about juxtaposition.....

DRC govt owns 90% of Cominiere, yet ICC emergency arbitration only relates to Cominiere...

ICSID arbitration involves AVZ and DRC govt, yet AVZ states DRC govt is not adverse to AVZ involvement in the Manono project...

One thing is clear regards to the above statement, Cominiere can act independently of DRC govt, which probably answers the question i posed to @netoo_sethi..

"Why hasnt FT objected to this illegal under taking by Cominiere or is he setting up CK to be the fall guy ?"

Yet i ask myself time and again, who the fuck is running DRC apart from China ?

CK or FT ?

fucked if i know.

 

[cruiser51]

ICC order is against Cominiere not the DRC government. If the DRC government win at the ICSID then Dathcom lose the tenement so that would trump the ICC matters imo

View attachment 52130

Talk about juxtaposition.....

DRC govt owns 90% of Cominiere, yet ICC emergency arbitration only relates to Cominiere...

ICSID arbitration involves AVZ and DRC govt, yet AVZ states DRC govt is not adverse to AVZ involvement in the Manono project...

One thing is clear regards to the above statement, Cominiere can act independently of DRC govt, which probably answers the question i posed to @netoo_sethi..

"Why hasnt FT objected to this illegal under taking by Cominiere or is he setting up CK to be the fall guy ?"

Yet i ask myself time and again, who the fuck is running DRC apart from China ?

CK or FT ?

fucked if i know.

It probably comes under..

Keeping things far enough removed, so in case all turns to custard, CKK is under the bus and Felix is a hero.
And in case Cominiere is a winner, Felix does a lap of triumph around the oval with the DRC flag wrapped around his waist and Felix is a winner.
That's what they call win, win.

Felix is very obvious in survival mode.

 

[BEISHA]

It probably comes under..

Keeping things far enough removed, so in case all turns to custard, CKK is under the bus and Felix is a hero.
And in case Cominiere is a winner, Felix does a lap of triumph around the oval with the DRC flag wrapped around his waist and Felix is a winner.
That's what they call win, win.

Felix is very obvious in survival mode.

Yep.......a fair appraisal.

 

[Xerof]

View attachment 52115

Hovering over this (1), simply states that the Claimant AVZ, has invoked the DRC Mining Code as the Law under which this case is to be heard, without prejudice and so on. This was invoked at date of registration of the case back in the day. If you were to look at any other pending cases, "hovering" provides the same explanation.

Not sure if this is what @FilthyRich2 is referring to in his post

on

 

[BEISHA]

Hovering over this (1), simply states that the Claimant AVZ, has invoked the DRC Mining Code as the Law under which this case is to be heard, without prejudice and so on. This was invoked at date of registration of the case back in the day. If you were to look at any other pending cases, "hovering" provides the same explanation.

Not sure if this is what @FilthyRich2 is referring to in his post

View attachment 52137 on

What do you make of this ?

 

[Bray]

Just went to the Zijin website:

Zijin Mining was invited to lead the exploration and development of the world-class lithium mine Manono Northeast Project
return
2023/10/24 6162

Manono Lithium Mine
This website news On October 23, Zijin Mining obtained the exploration rights for the northeastern Manono lithium project approved by the Ministry of Mines of the Democratic Republic of the Congo. The mine is the world’s largest discovered mine. One of the largest open-pit exploitable lithium-rich LCT (lithium, cesium, tantalum) pegmatite deposits.
Zijin Mining stated that although the Manono Lithium Mine is a "greenfield" project, it is located in a good lithium resource mineralization belt with huge ore prospecting potential. It has the conditions for large-scale open-pit development and good development prospects. Zijin Mining relies on its mature independent geology The prospecting and exploration capabilities are expected to achieve an important breakthrough in the exploration of spodumene pegmatite resources. Zijin Mining will invest sufficient funds and technical support based on actual needs to promote the exploration and development of the project.
It is understood that, following the judgment of the judicial authorities of the Democratic Republic of the Congo and the approval of government agencies, 100% of the exploration rights of the Manono lithium mine No. PR13359 has been returned and registered in the name of COMINIERE (Congolese Mining Development Co., Ltd.). Subsequently, COMINIERE invited the company to cooperate in the exploration and development of the northeastern part of the exploration rights, and the two parties established a joint venture, Manono Lithium Industry.
According to the joint venture agreement, the two parties hold the northeastern part of the exploration right project (No. PR15775 exploration right) through the joint venture Manono Lithium Industry. Zijin Mining holds 61% of the joint venture company through its overseas subsidiary Jinxiang Lithium Industry, and COMINIERE holds 39% equity. The two parties agreed to directly exchange the company's 15% stake in Dathcom for the 61% equity interest in the project company held by Jinxiang Lithium.
The agreement stipulates that Jinxiang Lithium will lead the geological exploration, development, construction and operation management of the project. Previously, Zijin Mining has obtained the development rights of the Mpiana-Mwanga hydropower station near the mining area through public bidding, which will provide sufficient low-carbon power guarantee for the development of the project.
The project plans to complete the project construction as soon as possible within 2 years after the feasibility study and financing plan are determined, and simultaneously build a lithium smelting industrial park. The products will be given priority to downstream enterprises in the Democratic Republic of the Congo in accordance with market-oriented principles. After the project is developed and completed, it will become one of the world's leading lithium production bases and better promote the economic and social development of the Democratic Republic of the Congo.
Zijin Mining actively embraces the new energy revolution and is committed to providing low-carbon mineral raw materials for a better life for mankind. In 2021, it strategically deployed the new energy industry to form the 3Q lithium salt lake in Argentina, the Laguotso Salt Lake lithium mine in Tibet, and Xiangyuan hard rock in Dao County, Hunan. The lithium mine's "two lakes and one mine" pattern controls more than 12.15 million tons of lithium carbonate equivalent, ranking 9th in the world and 3rd in the country. It plans to form a lithium carbonate production capacity of 120,000-150,000 tons in 2025.
Since 2014, Zijin Mining has successively built and put into operation large-scale mines such as the Kolwezi Copper Mine and the Kamoa-Kakula Copper Mine in the Democratic Republic of the Congo, with a cumulative investment of more than US$2 billion and providing more than 6,800 local jobs. Being invited to participate in the project's cooperative exploration and development this time is mainly based on Zijin Mining's efficient construction and operation management capabilities and excellent ESG concepts and practices in the Democratic Republic of the Congo. After the project is developed and completed, it will become one of the world's leading lithium production bases, provide high-quality low-carbon metal raw materials to combat climate change, further promote the economic and social development of the Democratic Republic of the Congo and local communities, and boost Zijin Mining Join the ranks of the world's leading lithium producers.

Thank you very much for the recognition of what Zijin stole, that about 50% of Manono 13359 is worth so much.

It makes it so much more believable to put the real value on the entire project when going for damages.
Several jaws will hit the deck when the damages claim is presented.

Fuck thieving Zijin, they should be kicked out of Australia ASAFP as persona non grata.

No wonder Zinjin has done so well, fuckwits are alpha male assholes, they don’t give a shit and will get it done.
We are basically the nerds following the rules getting bullied. They are laughing at us MFs

 

[Newcomer]

It seems that AVZ without prejudice to our position has agreed to have an Arbitration session before ICSID hands down a ruling
Possibly Other parties conceding and giving in to avoid the ICSID decision becoming public and the whole corruption story unfolding in DRC
We clearly have the upper hand in proceedings, so this may be a chance for DRC to rebuild working relationship
AVZ should release a ASX update if this in fact what they have agreed too.
Personally would prefer that they proceed without arbitration session to let the corrupt parties be jailed and put in a firing line based on ICSID outcome.
ICSID would have handed their decision down by next Friday, this may have delayed that process.
There should be no compassion from AVZ as we didn't break the law

Looks like everything back to normal.

 

[cruiser51]

I'm glad you are back geist, I felt so fucking lonely without you.

 

[Ben_Jovi]

I'm glad you are back geist, I felt so fucking lonely without

You only have to wait a week or so before shane has a new alias

 

[CashKing]

I'm glad you are back geist, I felt so fucking lonely without you.

At least the ads are getting better