Felix promoted CKK . The President and the MoM of mines have handed over responsibility of the Manono Project to Cominiere and their Chinese masters . All this after CKK was found guilty of corruption .
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AVZ Discussion 2022
- Thread starter GazDix
- Start date
I wish he hadn't but I can also entertain the possibility that letting someone captain a sinking ship isn't a promotion.
To add, the recent MOU DRC signed with European Union as well as Lobito Corridor being supported by USA.
EU, DRC, Zambia Forge Raw Material Partnerships, Develop Lobito Corridor
Today, at the Global Gateway Forum taking place in Brussels, the EU signed three Memoranda of Understanding (MOU) with partners to develop critical
China having control of Manono, stolen from Western ally will have ramifications for above.
Main point is that to say "AVZ don't have Manono, there FT is enemy" is (whilst possibly true) is to simplistic and above our pay grades.
Tim,
You are exactly right in my opinion - Special K will have all the accountability lumped onto him as time passes and I am sure he will go out with a bang and not a whimper.
Someone from the DRC ultimately needs to wear the accountability and it wont be the President or his Ministers.
Just a thought bubble.
SilentOne.
Could it be the Chinese plan of attack is to have AVZ fully commit to ICSID ?
Cumquat Cap
Regular
Why would they do that Wombat? they want DRC to be shunned by the western world forevermore?
If we are pushed to go down the compensation route are we relinquishing our rights to develop project there by allowing the Chinese to take control ?
Can you elaborate to what end would this be their 4D chess plan?
I would say the suggestion is that AVZ is doing the legwork in terms of countering Chinese corruption. In that sense, we are the bad guys. This allows DRC to maintain amicable relationships in terms of the very large construction and development contracts in place with Chinese firms in DRC.
Who knows, there is likely enough factors to make your head spin. I would say the sad fact of the matter is the DRC is not even remotely set up to handle its mineral wealth.
As stated before, I am very happy that Zijin are so openly involved in this situation. They have tangible assets that can and will be accessed by ICC/ICSID. China is a member state of ICSID after all. Whilst people can argue that the DRC will not pay us what is owed, I don't think the same argument can be applied to Zijin. If they take ownership of Manono then we will be all over them with litigation with full backing of ICSID.
And dont they have Asset in Australia?
Didn't someone say on here it wasn't even a face to face, explains why there was no picture.
Yes. Norton gold fields. Don't know its value but claims: Contained gold of 11.75Moz with grade of 0.89g/t.
Carlos Danger
Top 20
Why would Felix simply not stop the ship from sinking rather than hatching some bizarre plan to let CKK be the fall guy while his vision of a battery hub in the DRC is potentially delayed in international arbitration courts?
Felix is on board with the mantra of resource nationalism. They want a bigger cut of the takings and ultimately aren't afraid to rat fuck us to get it if we won't do a deal as they see the lithium as their property. He literally promoted CKK by Presidential order after the purported termination of the Dathcom JVA and the initiation of the ICSID proceedings. This is all happening on his watch imo
If Felix really believed in AVZ running all of the pride lands he would have signed the MoU before the vote on MMGA. But instead he waited to see if a better option was available. The gringos obviously got him shook. But I think that has more to do with trying to avoid sanctions on his friends than anything else.
The ICSID is the only thing keeping us in the game which to me is a clear sign that he doesn't give a fuck about the law. The DRC mining code is crystal clear about reasons available to the state for termination of a PE. It shouldn't require outside forces to encourage him and the MoM to follow the path of reason but here we are.
From what I understand Felix wanted $13 billion from the World Bank which was knocked back. The World Bank has delayed $1 Billion which the DRC was to receive because of corruption and a lack of transparency. The Chinese are not likely going to provide that sought of funding.
I think my money is on the ICSID, ICC and by default the World Bank.
It will be interesting to see how this all plays out, but I think the World Bank trumps SinBin.
SilentOne
Yes, I read that also.
More time wasting . Someone said previously it's an 18 month to 3year process .
9cardomaha
Regular
Getting back to business.
The updates on ICSID last week were to set a timetable for proceedings, and then also set the emergency requests of AVZ against the DRC. Procedural order 1 is the timeline:
- November 23, 2023: DRC submits a response to the request for provisional measures.
- November 30, 2023: AVZ file a reply to the request for provisional measures.
- December 11, 2023: hearing on the request for provisional measures involving all parties.
AVZ's emergency requests
- Suspend PR 13359 and PR 15775.
- Halt all mining activities by entities other than Dathcom within the mentioned permits.
- Restrain the DRC from taking any administrative actions prejudicial to the Claimants' interests.
DLA will respond by the 30th and make additional claims, counter arguements against DRC etc. The arbitrator will then issue final requests to be heard o the 5th December. I don't think they will increase or decrease, the three are likely to just remain as is. TICSID tribunal will also determine the fine or penalty for breaking the injunction before the hearing.
I believe that once we have the measures in place, we can start to discuss, also because DLA will be looking to submit damages claims after securing the injunctions. Which will provide more leverage on coming to a negotiated settlement.
For the actual timeline if we need to go through with it all, it is below:
- March 1, 2024: Claimants submit a Memorandum.
- July 26, 2024: Production of documents and objections deadline for both parties.
- August 9, 2024: Claimants and Respondent provide responses to objections to document production.
- September 27, 2024: Tribunal issues a decision on document production.
- May 5, 2025: Identification of witnesses and experts for cross-examination by both Claimants and Respondent.
- June 2-4, 2025 (June 5 reserved): Scheduled hearing involving all parties.
"Recent correspondence between AVZ and the DRC Government has been constructive and highlights the clearly positive and ongoing relationship between both parties. Importantly, and most recently, AVZ’s Managing Director, Nigel Ferguson, sat with His Excellency President Tshisekedi, to discuss these matters." AVZ 9/10/23.
Sorry I was tripped up by the , "recently Nigel sat with His Excellency President Tshisekedi to discuss matters " thingy . Misinterpreted the meaning. Wasn't aware someone had cleared up the misunderstanding . Cheers .
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