AVZ Discussion 2022
- Thread starter GazDix
- Start date
Chase
Regular
Classic mate..yeah thanks also for the info sharing
Classic mate..poor little piggy..thanks also for info sharing.
Samus
Top 20
I agree.
The situation is complex and not easily resolved in full. Although the suspension may not officially relate to anything you've mentioned it isn't hard to see how see how calculations of mining rights might be delayed due to some of the above scenarios as well as the splitting of the tenement. Not necessarily by design of avz but it sure isn't hurting us to be halted in the meantime.
To my mind it's important to look at the situation in context of the challenges we're facing and apply ones better judgement and logic, keeping in mind the complicated political situation presently in the DRC.
More claims of trading this week looking fairly unrealistic.
I'd associate the idea with the likes of "mining licence in a few weeks" and "surface rights paid within a few days" as well as the numerous others prior.
Still no quick and easy way out unless the president intervenes or management have had victories on multiple fronts behind the scenes which we've seen no public sign of yet to date.
Personally if we see even one of the issues officially squashed in the short term it'll constitute a win.
I keep this question you posed at the forefront as being of vital importance:
"And does AVZ still have to fight Dathomir for the shares it paid for?"
The f'k is going on with that? I'd like to know
Hi all,
I believe the two issues are different:
- 15% sold by Dathomir: Dathomir acquired 5% via dubious mean but is was legally registered and signed by the Cominiere people. I thus think it is now done and dusted.
- 15% acquired bu Zijin was done illegally and not registered so can be annuled or just not taken into account?
Just my thinking but it is how I see it (via my positive and maybe rosy eyes)
Frank
Top 20
The 16 SADC countries agree to pool efforts for the industrial revolution
Industry Minister Julien Paluku Kahongya said on Friday that 16 member countries of the Southern African Development Community (SADC) have agreed to pool their efforts to boost the industrial revolution in this region, in his closing remarks for the 6th annual industrialization week of this organization held in Kinshasa from August 2 to 6, 2022.
For him, this industrial revolution will be driven by the DRC and Zambia through the signing of a cooperation agreement as part of the creation of the value chain around the electric battery industry.
Industry Minister Paluku hinted that Southern Africa does not only have mineral resources to produce electric batteries tomorrow, but other pillars have made up the bulk of this week of industrialization, including, agricultural, pharmaceutical and mining sectors.
These three sectors, he said, have been the subject of exchanges so that from agriculture and mining, southern Africa can revolutionize its industry in order to offer agricultural products to the whole world, pharmaceuticals and processed mining.
It is for this reason that the industrialization week has benefited from funding from the European Union and the German government in the order of 750,000 Euros to encourage companies that are in the value chain, particularly in the pharmaceutical sector and the leather industry, informed Julien Paluku Kahongya.
He also indicated that the SADC region contains livestock, cows, sheep and goats but all these skins that come from slaughtering are not used, because there are no dens, so that each of us has a jacket, a shoe and a leather belt.
And all of this, he argued, comes from outside, while we can boost this leather industry, thus justifying the support of the European Union and the German government to stimulate this production at the internal level and bring others to be able to follow suit and gradually stimulate the industrial revolution.
Furthermore, Minister Julien Paluku Kahongya said that the SADC countries have different minerals which are cobalt, lithium, manganese and nickel estimated at 70% which are used in the manufacture of electric batteries.
To this end, he called on member countries to pool efforts around the DRC and Zambia so that they become the precursor of electric batteries and electric vehicles, so that tomorrow the organization can capture this world market and support our economies with a view to eradicating poverty in the country of the sub-region.
Industry Minister Julien Paluku Kahongya said on Friday that 16 member countries of the Southern African Development Community (SADC) have agreed to pool their efforts to boost the industrial revolution in this region, in his closing remarks for the 6th annual industrialization week of this organization held in Kinshasa from August 2 to 6, 2022.
For him, this industrial revolution will be driven by the DRC and Zambia through the signing of a cooperation agreement as part of the creation of the value chain around the electric battery industry.
Industry Minister Paluku hinted that Southern Africa does not only have mineral resources to produce electric batteries tomorrow, but other pillars have made up the bulk of this week of industrialization, including, agricultural, pharmaceutical and mining sectors.
These three sectors, he said, have been the subject of exchanges so that from agriculture and mining, southern Africa can revolutionize its industry in order to offer agricultural products to the whole world, pharmaceuticals and processed mining.
It is for this reason that the industrialization week has benefited from funding from the European Union and the German government in the order of 750,000 Euros to encourage companies that are in the value chain, particularly in the pharmaceutical sector and the leather industry, informed Julien Paluku Kahongya.
He also indicated that the SADC region contains livestock, cows, sheep and goats but all these skins that come from slaughtering are not used, because there are no dens, so that each of us has a jacket, a shoe and a leather belt.
And all of this, he argued, comes from outside, while we can boost this leather industry, thus justifying the support of the European Union and the German government to stimulate this production at the internal level and bring others to be able to follow suit and gradually stimulate the industrial revolution.
Furthermore, Minister Julien Paluku Kahongya said that the SADC countries have different minerals which are cobalt, lithium, manganese and nickel estimated at 70% which are used in the manufacture of electric batteries.
To this end, he called on member countries to pool efforts around the DRC and Zambia so that they become the precursor of electric batteries and electric vehicles, so that tomorrow the organization can capture this world market and support our economies with a view to eradicating poverty in the country of the sub-region.
D
Deleted member 2428
Guest
Fuck me, who knows, resolve this shit show please NF, AVZ, DRC and please move forward for the benefit of everyone, PLEASE no more corruption
Sick to fuckin death of this shit show for fuckin months and months. Show me the money , get me out at $2 
Frank
Top 20
I agree.
The situation is complex and not easily resolved in full. Although the suspension may not officially relate to anything you've mentioned it isn't hard to see how see how calculations of mining rights might be delayed due to some of the above scenarios as well as the splitting of the tenement. Not necessarily by design of avz but it sure isn't hurting us to be halted in the meantime.
To my mind it's important to look at the situation in context of the challenges we're facing and apply ones better judgement and logic, keeping in mind the complicated political situation presently in the DRC.
More claims of trading this week looking fairly unrealistic.
I'd associate the idea with the likes of "mining licence in a few weeks" and "surface rights paid within a few days" as well as the numerous others prior.
Still no quick and easy way out unless the president intervenes or management have had victories on multiple fronts behind the scenes which we've seen no public sign of yet to date.
Personally if we see even one of the issues officially squashed in the short term it'll constitute a win.
I keep this question you posed at the forefront as being of vital importance:
"And does AVZ still have to fight Dathomir for the shares it paid for?"
The f'k is going on with that? I'd like to know
Non-compliance and corruption in DRC mining, what about the COMINIERE, AVZ Minerals and Glencore file?
Within the framework of the exploitation of minerals specifically lithium in Manono in the current province of Tanganyika, the company AVZ Minerals is singled out for non-compliance with the clauses of the contract signed with the company DATHCOM Mining SA, created by two shareholders namely COMINIÈRE and DATHOMIR. Each holding respectively 30 and 70% of the shares.According to a recent survey carried out on the ground, the contract which binds the Australian firm AVZ to the State with the Congolese clubs is to date in its fifth year.
The investigation also shows that this non-compliance with the contract caused COMINIÈRE to cease operations. Also, all the works that the AVZ company had promised to carry out on the ground have still not been carried out.
Projects not yet realized so far!
According to the agreements, it was a question of building roads, an electronic dam as well as a residential camp.
The construction project of this camp was overcharged at 2,000,000 USD, while it does not represent this amount, some sources report.
Yet AVZ had indeed received 50% more and the motivation to do so.
In addition, COMINIÈRE complains that on behalf of the Government, the Minister of State in charge of the Portfolio would have signed an operating permit for AVZ while the contract with DATHCOM provides for the AVZ partner to submit the feasibility studies to COMINIÈRE for its favorable opinion.
Another complaint is that today, AVZ continues to hold Board meetings to which COMINIÈRE says it is not invited.
She also denounces the raising of funds by AVZ on the Australian stock exchange without taking into account the other shareholders who are not involved.
Five years later, the project remained in a research phase.
This is how COMINIÈRE was contacted by the Chinese company ZIJIN, which had its eye on a project called Manono-Kitotolo.
Thanks to a world-class lithium deposit, COMINIÈRE was counting heavily on the said project, but compliance with the clauses by the shareholders posed a problem. AVZ preferred to obstruct this project with opacity in fundraising operations.
CONTESTATION
COMINIÈRE also expressed its indignation about the sub-contracts of 500,000 USD which were signed without the approval of the partners.
A management judged to be cavalry in the absence of COMINIÈRE’s agents.
In the understanding of COMINIÈRE, who castigates this attitude, once the feasibility study is ready, it should give its favorable opinion for formalities in the Mining Cadastre with a view to transforming PR 13359 into a PE and to add, the feasibility study sent to COMINIÈRE contains an assertion which renders it inadmissible.
In this study, AVZ claims to have recovered the hydroelectric power station of Mpiana Mwanga, whereas it is a heritage of the Congolese State via COMINIÈRE.
According to the results of the investigation, AVZ signed a memorandum of understanding with the Ministry of Energy for the rehabilitation of the said plant by skipping the owner, which is COMINIÈRE.
A cheating which exposes AVZ to legal proceedings.
Several times, COMINIÈRE requested advances on dividends but never obtained them. Instead, AVZ refuted COMINIÈRE’s approach.
On the other hand, in correspondence CL/098/MMA/08/2021, AVZ had accused COMINIÈRE of violating the company’s agreements and statutes.
For the record, in January 2017, COMINIÈRE and AVZ signed an agreement.
The share capital of DATHCOM SA was as follows: COMINIÈRE 25%, AVZ Minerals 65%, and DATHCOM 10%.
COMINIÈRE then ceded 5% to AVZ to stay with 20%.
A company listed on the Melbourne Stock Exchange, AVZ raised the funds in Australia without the knowledge of COMINIÈRE.
The amount obtained by AVZ and its use did not allow COMINIÈRE to verify or understand the allocation.
Everything remained mysterious and enigmatic.
Nothing has been approved by the Board of Directors with respect to loans and advances made by a shareholder.
The DRC, a country with a naturally very rich soil, but which unfortunately is always being duped by foreign firms when it comes to the exploitation of its minerals.
Another example of this deception is the case of the company “GLENCORE” which is being prosecuted by Swiss justice for corruption in the Democratic Republic of Congo.
August 7, 2022 arnbethnic
TDITD
Top 20
At the end of the day AVZ = 75%
Dathomir hilariously want more money after concluding business with us, so that’s an easy go fuck yourself Simon Cong. Zijin is a little more murky, IGF said it was illegal, also broke our JV contract terms so Zijin can help themselves to a big serving of go fuck yourself too.
So it leaves AVZ with a healthy 75% and in a good position to collect that 15% from the government via Cominiere, although CATL maybe eyeing it off seeing how badly Zijin are going to bomb.
The juicy stuff today was the wording around IGF ‘charging’ Cominiere DG.
We can only hope that’s true as the bastard needs justice an it will show finally something is happening. Cong next.
It would be nice to have the ML and ownership sorted so we can brush the dust off the BFS.
Dathomir hilariously want more money after concluding business with us, so that’s an easy go fuck yourself Simon Cong. Zijin is a little more murky, IGF said it was illegal, also broke our JV contract terms so Zijin can help themselves to a big serving of go fuck yourself too.
So it leaves AVZ with a healthy 75% and in a good position to collect that 15% from the government via Cominiere, although CATL maybe eyeing it off seeing how badly Zijin are going to bomb.
The juicy stuff today was the wording around IGF ‘charging’ Cominiere DG.
We can only hope that’s true as the bastard needs justice an it will show finally something is happening. Cong next.
It would be nice to have the ML and ownership sorted so we can brush the dust off the BFS.
Frank
Top 20
By George i think you of all People need to take 2 before Bed tonight, When life just blows, thank God for FukitolFuck me, who knows, resolve this shit show please NF, AVZ, DRC and please move forward for the benefit of everyone, PLEASE no more corruption
Remark
Top 20
I interpreted the word "Charging" to mean accusing rather than legally charging?
I'm probably wrong, it has happened before, I think it was in 1984 or 1985 - one or the other...
Samus
Top 20
This part is my favourite:
"Another complaint is that today, AVZ continues to hold Board meetings to which COMINIÈRE says it is not invited.
She also denounces the raising of funds by AVZ on the Australian stock exchange without taking into account the other shareholders who are not involved."
Translation:
Cominière is upset that they're not invited to AVZ board meetings because they don't understand how the stock market works or that they are not a shareholder in AVZ. They're very interested in ensuring that raising of funds should have provision for their snacks, and signing bonuses.
Frank
Top 20
Which commodities won and lost in July?
Lithium
Price (Fastmarkets Lithium Carbonate): US$73,000/tThere’s no accepted spot market for lithium, something that makes the movement of prices from month to month a tough one to quantify.
Fastmarkets, which provides lithium hydroxide pricing for the LME, reckons spot sales of lithium chemicals remain stable at very high levels, fetching in excess of US$70,000/t.
Spodumene producers are still in a purple patch as well.
Pilbara Minerals, which has cultivated the start of a spot market with its Battery Materials Exchange, selling its latest cargo at a hefty price of US$7012/t on a 6% SC basis.
According to long-term industry monitor Battery Minerals Intelligence, prices continue to be heady for the electric vehicle commodity.
“Benchmark recorded an offer in South Korea for battery grade hydroxide at $70,000/tonne (CIF Asia), amid reports spot market pricing outside of China has begun to soften, beginning to erode the significant premium that has developed for international transactions compared to the Chinese domestic market,” they said.
“Nonetheless, contacts reported to Benchmark that small spot market volumes of lithium hydroxide in Europe or North America could fetch nearly $10,000/tonne more than an order for lithium carbonate, amid ongoing concerns over availability, with ex-China hydroxide prices still reaching towards $80,000/tonne (FOB North America).”
*To Remind,
There is no oversupply coming: Cowen
Lithium stocks suffered an astonishing selldown after major investment bank Goldman Sachs called the top of the battery metals boom in a note last week.Industry experts aren’t buying it.
Other investment banks aren’t buying it either.
In a note titled “Take Advantage of the Noise” Cowen says lithium stocks prices have been hit by these peer reviews on lithium oversupply and confusion around Argentine transfer taxes — issues that both appear overblown.
“EV driven demand growth cannot be satisfied by li supply in any year in our model, underpinning cash flow growth from volume additions and improved pricing,” Cowen says.
“We model a 19% deficit to demand from 2023-2030.”
While spot pricing may pull back from “breakneck levels” of +$US70k/t in 2023, producer pricing will continue to rise.
It’s important to note that the spot market reflects a very small amount of product. Most lithium is sold via contracts.
Here, if sustainable pricing can be achieved in the mid $US30k range, “the lithium space remains an extremely compelling investment”, Cowen says.
JAG
Top 20
JULES ALINGETE APPOINTS THE AD INTERIM DIRECTOR GENERAL OF COMINIERE FOR SALE AND MISMANAGEMENT
August 7, 2022 MiningShare
In recent months, the consortium "THE DRC AND ITS PEOPLE FIRST" made up of non-governmental organizations and media members of the coalition TOUS POUR LA RDC, the Network of Communicators for the Environment and media partners are increasingly interested in the functioning of public mining public companies forgotten by the public and which seem to have less importance for the government while they have significant deposits and have signed partnerships as much as Gécamines and Sokimo did.
Having consulted several documents relating to the Congolaise d'Exploitation Minière SA (COMINIERE), it concludes a mismanagement and especially the impunity of the managers whose interim dates back several years, a record achieved, without this being of interest to the government or the parliament supposed to defend the interests of the country and the population.
Indeed, everything suggests that only two partnerships (Segmal with MMR and Dathcom with Dathomir and AVZ) are viable while others are not despite tens of tons of coltan illegally exploited by a subsidiary of a Canadian company and subject to a legal case around the United COMINIERE (UC) partnership. A series of publications will now be devoted to it in order to inform objectively about what is happening.
This first publication concerns the Dathcom Mining partnership and will be made in two stages, the first of which returns to the partnership contract and the final observation sheet sent to the Director General ai of COMINIERE SA on 04 April 2022 through the referenced correspondence N°0552/PR/IGF/OM 54-2022/NMM/2022, as well as on the basis of the document entitled ''Amendment N°1 to the Joint Venture Agreement concluded on 25 March 2017 between LA CONGOLAISE D'EXPLOITATION MINIERE SA (COMINIERE) represented by Mr. Athanase MWAMBA MISAO, Acting Chief Executive Officer; AVZ MINERALS LIMITED represented by Mr KLAUS ECKHOF, Managing Director; DATHCOM MINING SAS represented by its Chairman CONG MAOHUAI; DATHOMIR MINING RESOURCES SARL represented by Mr. CONG MAOHUAI, Manager and AVZ INTERNATIONAL Pty LIMITED represented by Patrick FLINT, Director.''
Illegal disposals of undervalued shares in Dathcom Mining to the Chinese and mismanagement of revenues.
To date, this mining company of the State Portfolio owns only 10% of the shares in the joint venture company while it held 30% before its sales operations contested by the General Inspectorate in Dathomir and Zijjin, companies with Chinese interests. The Australian-American group AVZ holds 60% while the two Dathomir and Zijin share the rest equally.
According to this two-page correspondence signed by Mr. MUHIYA LUMBU Nicolas (Inspector General of Finance Head of Brigade of Revenue and Tax Services) and ALINGETE KEY Jules (Inspector General of Finance – Head of Service), it is written on page 2:
"The mission made three main observations, namely:
1. The sale of comINIERE's 15% shares in DATHCOM Mining to ZIJIN Mining was carried out in violation of the legal provisions on the state's disengagement from the Portfolio Companies and caused, in the light of the assessments made in the feasibility study, a significant loss of revenue 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 sell-off of the mining heritage of the State for which you assume responsibility;
2. Of the total amount of the proceeds from the sale of the 15% of the shares which amounts to USD 33,440,000.00 (US Dollars thirty-three million four hundred and forty thousand), you have already used approximately USD 6,800,000.00 (US Dollars six million eight hundred thousand) for operating needs to the detriment of productive investments of which USD 5,438,198.00 (US 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;
3. The presumed non-profit and provisional transfer of 5% of COMINIERE's shares in DATHCOM Mining to DATHOMIR Mining Sarl, but that under the transfer contract, was final and irrevocable without the income from the transfer being traced to COMINIERE."
Among other observations of the IGF, the most interesting to mention are:
– 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 of Mining and Quarry Agents, by mutual agreement in violation of public procurement legislation;
– The transfer of the Research Permits without payment of the transfer price to COMINIERE while the transfer contract provides for it;
– Illegal transfers of mining titles by the Transferees to the detriment of COMINIERE SA...''
The Feasibility Study referred to by the IGF is the one done by AVZ and presented by DATHCOM Mining to the government in accordance with the mining legislation of the Democratic Republic of Congo, our consortium has read a copy of the summary.
The criminal liability of the manager according to the IGF
The sale of the 15% of COMINIERE's shares to Zijin Mining Ldt (a Chinese group shareholder of Gécamines in COMMUS and Ivanhoe in Kamoa Copper in Lualaba) was made on authorization "by the two owners (Congolese State and CNSS)" according to the letter Ref: CEM/DG/074/amm/2021 of 17/09/2021 signed by Athanase MWAMBA MISAO, Managing Director of COMINIERE SA addressed "To Mr Christian LUKUSA, Counsel of AVZ Minerals" of which we have seen a copy. And in his letter Ref: CEM/DG/073/amm/2021 of 17/09/2021 signed by Athanase MWAMBA MISAO addressed "To Mr NIGEL FERGUSON, President of the Company DATHCOM MINING SAS" having as its object: "Notification of the sale of 15% of the share of COMINIERE SA and request to convene an AGE" of which our consortium has seen a copy, it is written from the first to the third paragraph:
"We have the advantage of notifying you of the sale of 15% of COMINIERE SA to ZIJIN MINING COMPANY Ltd.
It should be noted that we complied with the statutory clauses by duly informing the two other shareholders, namely on the one hand Dathomir Mining Resources SARLU who had encouraged negotiations on the share purchase proposal made by ZIJIN MINING COMPANY Ltd and on the other hand, correspondence was sent to the avz shareholder who did not exercise his right of pre-emption within the required period (Article 11.2 of the Statutes of DATHCOM MINING SAS). In addition, as a State Portfolio Company, our company has obtained the approval of the Minister of State, Minister of the Portfolio for this transfer."
But IGF is clear about it, there was a violation of the law during this assignment, whether by order of the responsible Minister or the owners despite Dathomir's non-objection. "The Control Team maintains the observation, because the Director General is effectively content to transfer the mining rights without first valuing them. Aware that the partnerships initiated do not really benefit the state-owner, the Director General is embarrassed to spread the meagre results he has obtained. So he couldn't prove otherwise." This is the position of the IGF in its referenced document FO/54&73/PR/IGF/IG-CS/JAK/BRF/2022 of which we have read a copy.
Regarding the sale of 5% of COMINIERE's shares to Dathomir belonging to another Chinese, COMINIERE told IGF investigators the following:
"DATHOMIR MINING SA had requested COMINIERE SA to sell 5% of the share in order to enable it to raise the necessary funds for the rehabilitation of the Lubumbashi-Manono road. This assignment was provisional and motivated by this imperative alone.
COMINIERE SA submitted this question to the Minister of the Portfolio who gave his agreement in principle.
However, regarding the monitoring committee, COMINIERE SA was set aside because the follow-up was the responsibility of an ad hoc committee composed of the Ministry of the Portfolio, the Ministry of Infrastructure and the Congolese Agency for Major Works."
A position rejected IGF which decides:
"Not only that the prerequisites were not met, but also and above all, there was use of forgeries on the part of the Director General ai who, in his correspondence, had not told the truth to the Minister of the Portfolio. Indeed, it emerges from the Contract for the sale of the 5% of shares of COMINIERE SA signed on November 27, 2017 with the company DATHOMIR MINING SARL, duly notarized contract, the following findings:
Far from being temporary, the sale of 5% of COMINIERE's shares to DATHCOM MINING was indeed definitive and irrevocable;
Far from being graceful, the assignment was made at a price agreed between the parties, but not specified anywhere in the assignment contract for reasons that only the Managing Director is aware of.
The sale of the 5% of cominiere's shares to DATHOMIR MINING was fraudulent and the Managing Director assumes, unless proven otherwise, criminal liability." The IGF notes with surprise that the Director General has defended Dathomir tooth and nail, so engages his responsibility in everything that is reproached to him.
Ignorance of the IGF report or complicit silence of the government?
The Ministry of the Portfolio seems to be the great accomplice of the current poor health of this state mining company for several reasons including the non-renewal of the agents and the poor health of this company under its supervision, while the Ministry of Justice seems to have ignored the clear recommendations of the recent audit of the General Inspectorate of Finance as well as the decisions of its own services in addition to the judgments of the courts and tribunals of Lubumbashi. to certain partners.
What is the follow-up reserved by the Prime Minister, the Ministers of the Portfolio and Justice to these serious revelations of the General Inspectorate of Finance (IGF) having established the criminal responsibility of the Director General ai of the COMINIERE on the illegal and irregular transfer of the shares, their undervaluation, the misuse of the income as well as the sales money not traced by the financial watchdog of the Presidency in the accounts of this company in the State Portfolio since the beginning of April 2022? When will the appointment of new patriotic and conscientious representatives at the head of public mining companies such as COMINIERE and SOKIMO under the management of temporary workers for several years, to SODIMICO, ENTREPRISE MINIERE KISENGE MANGANESE, SAKIMA and MIBA which seem not to interest the leaders of the country? The rule of law that president Felix Tshisekedi wants and the efficient management of the people's mineral resources also depend on it.
The colleagues of the Kinois newspaper "Le Soft International" had already launched the alert on the scandal committed by COMINIERE in its edition N°1550 of April 11, 2022 without any institution of the Republic reacting, we repeat and will continue to do so as our support for the fight of the Head of State against predators of public goods, pillar of his vision of natural resources that must benefit the people first and not a few individuals whoever they are.
An EcoNews Survey, Forum des As, Congo Nouveau, Leader, Mining News Magazine, Le Socle, Tous pour la RDC.
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JAG
Top 20
Lithium case: unmasked by the IGF, the Chinese ZIJIN taunts the State, camouflaging himself in the Cominière
Announced by the General Inspectorate of Finance (IGF), the purchase by the Chinese ZIJIN of 15% of the shares of the public company Cominière in DATHCOM Mining, the joint venture exploiting lithium in Manono (N-E of the province of Tanganyika) is making a fuss and grabuges.By Pold Levi Maweja
AVZ Minerals had raised $75 million in a fundraiser that was "significantly oversubscribed". The funds had enabled the mining company to begin development work on the Manono lithium mine in the Democratic Republic of congo @Photo Third Party Rights.
Published on 15 June 2022 at 17:11:00
A consortium of civil society associations calls on Felix Tshisekedi, "Head of State and guardian of the mining interests of the population so that no official, from the Presidency of the Republic to the Cominière, does not use influence peddling ... about Manono's lithium".
Read also:
Revenue mobilization: N'Samba matures the interconnection between mining departments, banks and financial authorities
DATHCOM Mining is a partnership between Cominière and Australia's AVZ Minerals, which has completed a $545.5 million financing package to build the lithium mining plant in Manono, with the help of another Chinese operator, Suzhou CATH Energy Technologies. DATHCOM projects a production of 1600 tons of lithium spodumene (SC6) per day, starting in the last quarter of 2023. The plant could generate 500 direct jobs and 2000 to 5000 indirect jobs. At the beginning of May 2022, AVZ Minerals obtained from the Minister of Mines, Anto Samba, the transfer of its research permit to an operating permit. But the civil society movement fears administrative chinoiseries at the Mining Cadastre (CAMI) which until the end of May had not yet notified AVZ Minerals on its new permit. It should be recalled that the CEO of the CAMI, Jean-Félix Mupande has been in his post since the 1+4 regime and remains there despite state decisions (including an order by Kabila and an order of the current Minister of Mines) on his replacement. Mines in the DRC are an area of conflicts of interest, often to the detriment of the state, deplore civil society associations.
Syndrome de Tshikapa
Voices are already being raised for DATHCOM Mining to sign its specifications for social actions to be carried out for the benefit of the populations and regions to be affected by the company's extractive activities. DATHCOM says it has already injected about 70 million $US for social actions, including assistance to farmers with several tons of seeds, support for the vaccination campaign, emergency interventions, demining of the entire city of Manono.Following this news, some fear that Manono, and by extension, all of Tanganyika will hardly benefit from the lithium extracted from its subsoil, like the Kasai regions that have remained large poor villages despite more than 100 years of diamond mining. Experts speak of the Tshikapa syndrome: the city is known throughout the world as the diamond capital of the world, and umbilical cord of Antwerp. Alas, Tshikapa is called a city only because the public administration counts it among the thirty official cities of the DRC, in reality, with its bumpy roads whose asphalt rises for the most part from colonization, no electricity network or running water, a rudimentary health system, Tshikapa looks like a rural commune not to say a big village. The Tshikapa syndrome would apply, mutatis mutandis, to all the cities of the Kasai space and even of Greater Katanga. From Manono's lithium, Nigel Ferguson, managing director of AVZ Minerals, boasts that it is "one of the most important new mining projects in the world, which will contribute significantly to the global green energy transition".
Today, who says lithium, says batteries for electric cars. Yet lithium is also used in medicine, especially to treat obsessive-compulsive OCD disorders. Lithium is also used to treat skin diseases, correct metabolic dysfunction, resulting in sleep disorders and irritability.
Lithium is also used in the manufacture of different types of glass, ceramics, lubricating greases, rubber, enamels, batteries and primary aluminum. It is also used in the manufacture of certain alloys.
Frank
Top 20
US Secretary of State, Anthony Blinken, expected this Tuesday in Kinshasa
The American Secretary of State, Anthony J. Blinken is expected this Tuesday, August 9 in the afternoon, in Kinshasa, capital of the Democratic Republic of Congo. He will first be received at the new Presidential Palace of Mont-Ngaliema by President Félix Antoine Tshisekedi Tshilombo.
The two personalities will have a one-on-one meeting of almost an hour before a bilateral meeting of the Congolese and American delegations.
According to the communication unit of the Presidency of the Republic, during these meetings, President Félix Tshisekedi will not fail to raise questions of strategic partnership between the DRC and the USA.
The latest report by UN experts on the invasion of Rwandan troops converted to M23 will not fail to be discussed.
At the end of these two meetings, the Secretary of State Anthony Blinken and the Deputy Prime Minister of Foreign Affairs, Christophe Lutundula will hold a joint press briefing in the marquee of the Cité de l'Union Africaine in front of forty American journalists and Congolese from Congolese national radio and television.
The American Secretary of State will meet on Wednesday August 10 with the Prime Minister, Jean-Michel Sama Lukonde, before flying to Rwanda.
More Food for thought on the Road to Mining Manono
Cheers
Frank
The American Secretary of State, Anthony J. Blinken is expected this Tuesday, August 9 in the afternoon, in Kinshasa, capital of the Democratic Republic of Congo. He will first be received at the new Presidential Palace of Mont-Ngaliema by President Félix Antoine Tshisekedi Tshilombo.
The two personalities will have a one-on-one meeting of almost an hour before a bilateral meeting of the Congolese and American delegations.
According to the communication unit of the Presidency of the Republic, during these meetings, President Félix Tshisekedi will not fail to raise questions of strategic partnership between the DRC and the USA.
The latest report by UN experts on the invasion of Rwandan troops converted to M23 will not fail to be discussed.
At the end of these two meetings, the Secretary of State Anthony Blinken and the Deputy Prime Minister of Foreign Affairs, Christophe Lutundula will hold a joint press briefing in the marquee of the Cité de l'Union Africaine in front of forty American journalists and Congolese from Congolese national radio and television.
The American Secretary of State will meet on Wednesday August 10 with the Prime Minister, Jean-Michel Sama Lukonde, before flying to Rwanda.
More Food for thought on the Road to Mining Manono
Cheers
Frank
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