Winenut
Go AVZ!
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AVZ Discussion 2022
- Thread starter GazDix
- Start date
Sounds like we won the jurisdictional challenge woot
(Yicai) March 18 -- The dispute between a unit of Chinese mining giant Zijin Mining and Australia's AVZ Minerals over an unrecognized stake in the Manono lithium-and-tin project in the Democratic Republic of Congo will be heard by a DRC court, rather than the International Chamber of Commerce Court of Arbitration.
The ICC released its decision that it does not have jurisdiction to hear the case between Jincheng Mining and AVZ, Fujian province-based Zijin Mining announced today.
JCM launched an ICC case against AVZ in May 2022 after the Australian company failed to recognize Zijin Mining's purchase of a stake in Dathcom Mining, a joint venture controlled by AVZ which was granted the mining rights to the Manono project by the DRC government.
"This decision does not reflect on the merits of our case, but rather a redirection of legal proceedings," said Chen Chen, Zijin Mining's in-house legal counsel. “It signifies the ICC's inability to hear the matter at this time, which will now be raised in the local legal jurisdiction of the DRC.”
Zijin Mining remains confident in its ability to uphold the rights of all stakeholders involved and to ensure a fair resolution to this dispute through the DRC legal system, the company noted.
The Manono project is one of the world's largest lithium-rich LCT (lithium, cesium, tantalum) pegmatite deposits.
Dathcom was founded in 2016, with AVZ holding 60 percent, DRC government-owned Cominière 25 percent, and Dathomir Mining Resources the remaining 15 percent.
Zijin Mining kicked off negotiations with Cominière in June 2021 to acquire a 15 percent stake in Dathcom. The deal was inked and approved by the local government in November 2021.
However, after Zijin Mining's announcement of the deal, AVZ refused to acknowledge the Chinese company as a shareholder of Dathcom. Therefore, JCM launched an ICC case against AVZ over the validity of the stake it acquired in Dathomir in May 2022.
Will Celestin's wife be preceding over this one too?
David Krappenschitz
Regular
Weren't we hoping for ICC to determine the transfer to Zijin to be null and void? Reads to me that they've just determined they (ICC) don't have jurisdiction over the case and thus deferring it to 'local legal jurisdiction of the DRC' ? Which would be shit given corruption of local courts.Sounds like we won the jurisdictional challenge woot
(Yicai) March 18 -- The dispute between a unit of Chinese mining giant Zijin Mining and Australia's AVZ Minerals over an unrecognized stake in the Manono lithium-and-tin project in the Democratic Republic of Congo will be heard by a DRC court, rather than the International Chamber of Commerce Court of Arbitration.
The ICC released its decision that it does not have jurisdiction to hear the case between Jincheng Mining and AVZ, Fujian province-based Zijin Mining announced today.
JCM launched an ICC case against AVZ in May 2022 after the Australian company failed to recognize Zijin Mining's purchase of a stake in Dathcom Mining, a joint venture controlled by AVZ which was granted the mining rights to the Manono project by the DRC government.
"This decision does not reflect on the merits of our case, but rather a redirection of legal proceedings," said Chen Chen, Zijin Mining's in-house legal counsel. “It signifies the ICC's inability to hear the matter at this time, which will now be raised in the local legal jurisdiction of the DRC.”
Zijin Mining remains confident in its ability to uphold the rights of all stakeholders involved and to ensure a fair resolution to this dispute through the DRC legal system, the company noted.
The Manono project is one of the world's largest lithium-rich LCT (lithium, cesium, tantalum) pegmatite deposits.
Dathcom was founded in 2016, with AVZ holding 60 percent, DRC government-owned Cominière 25 percent, and Dathomir Mining Resources the remaining 15 percent.
Zijin Mining kicked off negotiations with Cominière in June 2021 to acquire a 15 percent stake in Dathcom. The deal was inked and approved by the local government in November 2021.
However, after Zijin Mining's announcement of the deal, AVZ refused to acknowledge the Chinese company as a shareholder of Dathcom. Therefore, JCM launched an ICC case against AVZ over the validity of the stake it acquired in Dathomir in May 2022.
But idk I lose track of all the various disputes
I was just looking through it again and I think it's a bit of this..
I think if you go by the law then not having jurisdiction means that Zijin don't have a share in Dathcom which is an absolute positive.
However...the fallback position seems to be DRC courts...which if worked properly would carry on the verdict from ICC implying that they're not a part of Dathcom..but well..its DRC..so.......another shitfight...??
Also reading between the lines, if they end up winning in DRC courts, sounds like ICC still won't ultimately acknowledge their participation in Dathcom anyway?
Chen Chen is still talking trash. Wouldn't it be nice to claim a few billion dollars in damages for delaying the project for 2 years with the intention to continue stalling the project after a massive loss?
Let us not forget that Jin Cheng claims that the Company has breached the Dathcom Joint Venture Agreement (Dathcom JVA), entitling the Claimants to the following principal relief: a claim of damages, estimated provisionally at US$850M for Jin Cheng and US$566M for Cominiere.
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David Krappenschitz
Regular
Ah I see. Thankyou. Yes definitely a nice win there. Fuck Zijin
aanti.dumb
Regular
This article (if true) seems to be regarding this announcement from OCT 2023 where AVZ didn't want ICC to hear the arguments from Zijin re 15% ownership as AVZ claim they are not share holders of Dathcom. So looks to be another (small) win for AVZ. Zijin will likely start proceedings in the corrupt DRC legal system so who knows where this goes next.Sounds like we won the jurisdictional challenge woot
(Yicai) March 18 -- The dispute between a unit of Chinese mining giant Zijin Mining and Australia's AVZ Minerals over an unrecognized stake in the Manono lithium-and-tin project in the Democratic Republic of Congo will be heard by a DRC court, rather than the International Chamber of Commerce Court of Arbitration.
The ICC released its decision that it does not have jurisdiction to hear the case between Jincheng Mining and AVZ, Fujian province-based Zijin Mining announced today.
JCM launched an ICC case against AVZ in May 2022 after the Australian company failed to recognize Zijin Mining's purchase of a stake in Dathcom Mining, a joint venture controlled by AVZ which was granted the mining rights to the Manono project by the DRC government.
"This decision does not reflect on the merits of our case, but rather a redirection of legal proceedings," said Chen Chen, Zijin Mining's in-house legal counsel. “It signifies the ICC's inability to hear the matter at this time, which will now be raised in the local legal jurisdiction of the DRC.”
Zijin Mining remains confident in its ability to uphold the rights of all stakeholders involved and to ensure a fair resolution to this dispute through the DRC legal system, the company noted.
The Manono project is one of the world's largest lithium-rich LCT (lithium, cesium, tantalum) pegmatite deposits.
Dathcom was founded in 2016, with AVZ holding 60 percent, DRC government-owned Cominière 25 percent, and Dathomir Mining Resources the remaining 15 percent.
Zijin Mining kicked off negotiations with Cominière in June 2021 to acquire a 15 percent stake in Dathcom. The deal was inked and approved by the local government in November 2021.
However, after Zijin Mining's announcement of the deal, AVZ refused to acknowledge the Chinese company as a shareholder of Dathcom. Therefore, JCM launched an ICC case against AVZ over the validity of the stake it acquired in Dathomir in May 2022.
A small battle won in the war for Manono.
Winenut
Go AVZ!
WTF are you saying here???Sounds like we won the jurisdictional challenge woot
(Yicai) March 18 -- The dispute between a unit of Chinese mining giant Zijin Mining and Australia's AVZ Minerals over an unrecognized stake in the Manono lithium-and-tin project in the Democratic Republic of Congo will be heard by a DRC court, rather than the International Chamber of Commerce Court of Arbitration.
The ICC released its decision that it does not have jurisdiction to hear the case between Jincheng Mining and AVZ, Fujian province-based Zijin Mining announced today.
JCM launched an ICC case against AVZ in May 2022 after the Australian company failed to recognize Zijin Mining's purchase of a stake in Dathcom Mining, a joint venture controlled by AVZ which was granted the mining rights to the Manono project by the DRC government.
"This decision does not reflect on the merits of our case, but rather a redirection of legal proceedings," said Chen Chen, Zijin Mining's in-house legal counsel. “It signifies the ICC's inability to hear the matter at this time, which will now be raised in the local legal jurisdiction of the DRC.”
Zijin Mining remains confident in its ability to uphold the rights of all stakeholders involved and to ensure a fair resolution to this dispute through the DRC legal system, the company noted.
The Manono project is one of the world's largest lithium-rich LCT (lithium, cesium, tantalum) pegmatite deposits.
Dathcom was founded in 2016, with AVZ holding 60 percent, DRC government-owned Cominière 25 percent, and Dathomir Mining Resources the remaining 15 percent.
Zijin Mining kicked off negotiations with Cominière in June 2021 to acquire a 15 percent stake in Dathcom. The deal was inked and approved by the local government in November 2021.
However, after Zijin Mining's announcement of the deal, AVZ refused to acknowledge the Chinese company as a shareholder of Dathcom. Therefore, JCM launched an ICC case against AVZ over the validity of the stake it acquired in Dathomir in May 2022.
It seems the absolute opposite to what we're after
Winenut
Go AVZ!
It heads back to the DRC courts because ICC don't have jurisdiction.
I get the technicalities but fuck me
Send it back to the DRC??? Celestin's wife, corrupt fucking courts, brown paper bags!!!!
You have to be fucking kidding
I get Jin Cheng don't get a win at the ICC but the fucking wash up is like winning the fucking golden trophy then you have to drink liquid fucking shit from it on the podium
obe wan
Regular
ICC don’t have jurisdiction to hear it , as Zijin aren’t on the Dathcom registery ; they have no claim just like AVZ have said all along .
Zijin can go back and try the DRC route , but ICC have basically confirmed they are not on the registery / not a shareholder of Dathcom ; then we have that AVZ V Cominere decision to come which I’d assume Zijins avenue through DRC courts could only happen after that decision is announced ; cominieres chances of winning that after whats just happened here, would be paper thin.
They can’t really get a DRC hearing if Cominiere have been proved to be a lying bunch of pricks who couldn’t even sort out a register for their friends Zijin and who have basically wasted everyone’s time.…( wasting time was also an intent )
If this Chinese version is out now, then highly likely we’ll have an announcement in the morning ; no doubt it will read a bit clearer than this Chinese sourced article
Roll on cominiere
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Winenut
Go AVZ!
Anyone thought for a second that Jin Cheng/Zijin "wanted" the ICC to find they don't have jurisdiction on the matter so it ensured the case is heard back in the "good old DRC/brown paper bag land" where influence can be easily bought and ministers, bureaucrats and more importantly "judges" decisons are just a stack of Yuan away?
Maybe Celestin's wife can preside over the court in this matter as she has in others before
Fuck me....
Maybe Celestin's wife can preside over the court in this matter as she has in others before
Fuck me....
Sounds like we won the jurisdictional challenge woot
(Yicai) March 18 -- The dispute between a unit of Chinese mining giant Zijin Mining and Australia's AVZ Minerals over an unrecognized stake in the Manono lithium-and-tin project in the Democratic Republic of Congo will be heard by a DRC court, rather than the International Chamber of Commerce Court of Arbitration.
The ICC released its decision that it does not have jurisdiction to hear the case between Jincheng Mining and AVZ, Fujian province-based Zijin Mining announced today.
JCM launched an ICC case against AVZ in May 2022 after the Australian company failed to recognize Zijin Mining's purchase of a stake in Dathcom Mining, a joint venture controlled by AVZ which was granted the mining rights to the Manono project by the DRC government.
"This decision does not reflect on the merits of our case, but rather a redirection of legal proceedings," said Chen Chen, Zijin Mining's in-house legal counsel. “It signifies the ICC's inability to hear the matter at this time, which will now be raised in the local legal jurisdiction of the DRC.”
Zijin Mining remains confident in its ability to uphold the rights of all stakeholders involved and to ensure a fair resolution to this dispute through the DRC legal system, the company noted.
The Manono project is one of the world's largest lithium-rich LCT (lithium, cesium, tantalum) pegmatite deposits.
Dathcom was founded in 2016, with AVZ holding 60 percent, DRC government-owned Cominière 25 percent, and Dathomir Mining Resources the remaining 15 percent.
Zijin Mining kicked off negotiations with Cominière in June 2021 to acquire a 15 percent stake in Dathcom. The deal was inked and approved by the local government in November 2021.
However, after Zijin Mining's announcement of the deal, AVZ refused to acknowledge the Chinese company as a shareholder of Dathcom. Therefore, JCM launched an ICC case against AVZ over the validity of the stake it acquired in Dathomir in May 2022.
Winenut
Go AVZ!
Did they confirm Zijin/Jin Cheng (whateva) are not on the Dathcom registery or did the ICC simply confirm they don't have any fucking jurisdiction in the matter whatsoever?????
ie .... like ....well....ummm.....we really like what everyone's got to say but ....well....ummm......but .......ummm......it's really "nothing to do with us"
Sorry nut, you are not on my 'to be fukked list'.
You can wait till AVZ is US$12 and it still won't happen.
I'll have a shiraz with you, even 12 of these
Capiche? No fukkin hanky panky!
Fuk Zijin from every possible angle.
Yes 2.30am ,, yes WTF am i still awake
As far as I understand, In the Dathcom JV between AVZ, Dathomir and Cominière it states clearly that any disagreement between the JV partners has to be resolved by the ICC.
Jin Chen illegally bought 15% of Dathcom and thinking they were now a Dathcom JV partner raced to the ICC to complain about AVZ, because AVZ simply did not recognise them as a JV partner.
So if the ICC says to Jin Chen: sorry guys, we cannot discuss your problem, it actually means Jin Chen is not a JV partner.
However the Chinese kunties kept on playing this game, while they knew they had bucklies to win it, to drag the case and AVZ finances out.
At the same time Zijin made the illegal deal with Cominière to first remove Dathcom from 13359 followed by splitting 13359 up and Zijin acquired 61% of the northern section, which included the water resource, the camp AVZ built, the library of all the drilling cores ond on top of that they progressed with the revamp of the MP power station to make sure that AVZ was properly and royally fucked over.
DRC/Cominiere is now claiming AVZ did not progress fast enough, however AVZ could not move forwards without a Mining License, which the MoM and cohorts very nicely did not provide, because AVZ is not in a situation to hand out brown paper bags.
Australian registered companies who partake in that type of activities can be penalised in Australia. Most Australian companies have it written in their Code of Conduct.
How this will progress is interesting, but AVZ legal reps have always said Zijin, Cominierie, Dathomir and DRC Government officials are operating in contravention of DRC law.
To this point AVZ has not been proven wrong.
Go AVZ fukkin GO!
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