AVZ Discussion 2022
- Thread starter GazDix
- Start date
Xerof
Is There Anybody Out There 1979
She said:
Hopefully the Chinese around the world will be widely seen through. He can't help but run the business with insidiousness...win-win...I'm laughing my ass off. That's not the democratic model...it's greed. No promises are kept
Maria, please translate to English before posting
kind regards
Arsehole
Hopefully the Chinese around the world will be widely seen through. He can't help but run the business with insidiousness...win-win...I'm laughing my ass off. That's not the democratic model...it's greed. No promises are kept
Maria, please translate to English before posting
kind regards
Arsehole
LithiumKing
Regular
Can anyone confirm if Nigel is in the DRC?
how sweet it is for those long term pls holders, going through the ups and downs, into production and now receiving their first divi (I have a small holding but nothing like my holding in avz). sincere congrats to those holders. meanwhile we cling to glimmers of hope and some action out of the DRC. if only we could see divvies for avz one day, if only .........
TheCount
Regular
Yep. With an AVZ share price of $5 and dividend of 11c I know where I'd be .. .. .. .. .. .. ..
TC.
Bin59
Regular
The Manono SEZ is in writing and should prevail (maybe there will just be an additional Chinese SEZ in the DRC)
Samus
Top 20
NEWSECONOMY
Manono lithium: from MANOMIN to DATHCOM, from PE12202 to PR13359, from DATHOMIR to AVZ
February 23, 2023Kiki Kienge
By Kiki Kienge
Manomin was a joint venture between the state company of the DR Congo, Cominiere with a company under Mauritian law, the MMCS created in 2013.
Creation of MANOMIN by COMINIERE and MMCS
Manomin is the ancestor of Dathcom, the second joint venture created in 2017 on Manono's lithium, between Cominiere and Dathomir of the Chinese, Simon Cong, after the cancellation of PE12202 following the inability of MMCS to bring back funds promised for the Manono lithium feasibility study.
The agreement was based on Exploitation License 12202, COMINIERE SA had sold it to the MANOMIN joint venture of which MMCS was the majority shareholder with 68% of the shares and 32% for Cominiere. On September 16, 2013, an obligation under the joint venture contract was concluded between Cominiere and MMCS, the validity of the Exploitation License 12202 granted by Cominiere to Manomin was 3 years, the agreement clearly meant that fault the commencement of work for the development and construction of the mine within the legal period (3 years), this Exploitation License should be cancelled.
Following the complaints of Cominiere, after noting the lack of start of work, the feasibility study and the construction of the mine, the Minister of Mines at the time issued an order forfeiture of the Exploitation License 12202.
In short, MMCS in spite of the payment of a sum of 5 million $US of key money, advanced promises to collect funds to finance the project of the exploitation of the lithium of Manono, having even the PE12202 of Manomi in hand, MMCS failed in the obligation to maintain the validity of PE12202.
How was the Exploitation License 12202 changed to PR13359?
Press release by Geoege Kapiamba has its time; “The perimeter covered by the 12202 exploitation permit canceled by the Minister of Mines is an important deposit belonging to COMINIERE. La COMINIERE could not let go of its heritage. As a good father, the leaders of COMINIERE have done everything possible to recover it. This is how they duly submitted the request to the Minister of Mines and the CAMI to obtain the allocation of an exploration permit. This is exploration permit 13359. Afterwards, the directors of COMINIERE transformed this exploration permit into an exploitation permit. Then there was a serious partner who approached COMINIERE and provided capital. COMINIERE transferred this operating license to this partner »
The PE12202 was thus split into two Exploration Permits, including PR13689 for the waste and PR13359 for the mine. Noting that contrary to George Kapiamba's statement in his press release, PR13359 was not transformed into PE13359 by COMINIERE, but only in 2022 after the feasibility study of AVZ Minerals
Creation of Dathcom and arrival of AVZ Minerals
After the cancellation and transformation of PE12202 into PR13359 in 2016, on February 2, 2017 the Congolese government through Cominiere signed a collaborative partnership with Dathomir, a company of Chinese Simon Cong. Thus creating the joint venture, Dathcom with 70% for Dathomir and 30% for Cominiere.
In 2017 following an inability on the part of Dathomir to raise the funds for the feasibility study and the realization of the works of the project related to PR13359, AVZ Minerals concluded an agreement with for the acquisition of 60% of the shares of Dathomir Mining in the Manono Lithium, tin and tantalum project with the agreement of La Cominiere for a sum of US$10.5 million.
AVZ Minerals under the agreements will pay US$6 million in cash and Cominiere US$0.1 million upon execution of the agreement, the balance will be paid in four instalments; US$0.75 million in cash and within 30 days of signing the agreement, AVZ Minerals will issue 260 million shares upon satisfaction of all conditions to Dathomir Mining Resources SARL.
Manono lithium : de MANOMIN à DATHCOM, du PE12202 au PR13359, de DATHOMIR à AVZ - Kongo Presse
Par Kiki Kienge Manomin fût une joint-venture entre la société étatique de la RD Congo, Cominiere avec une société de droit Mauricien, le MMCS créée en 2013. Création de MANOMIN…
kongopress.com
cruiser51
Top 20
Manono lithium survey. INTERVIEW. Marius Mihigo: "It's not me we're targeting, it's the head of state..."
He confessed that he wanted, first, to speak to the international press to announce his decision to sue the authors of the defamatory articles in order to obtain proof of what they are saying. We told him that he could trust us by reserving the scoop of his reaction to a DRC newspaper.
February 13, 2023 Patient Ketu NEWS Comments Offon Investigation of Manono's lithium.INTERVIEW. Marius Mihigo: "It's not me we're targeting, it's the head of state..."
Marius Mushagalusa Mihigo
COMMENTS COLLECTED BY TONY NGANGA
The exchanges of pleasantries inevitably relaxed the beginning of our telephone interview. We felt the determination and serenity in the words of Marius Mihigo. AVZ affair, accusations of corruption, influence peddling, conflict of interest, his relationship with President Tshisekedi and his entourage. We wanted to interview him to understand better.
From the start of our interview, we plunged in, warning him that our questions were not going to please him, because he would find them direct, sometimes aggressive. “I will answer all your questions. He kept his word. He answered directly, skilfully but never looking for red herrings.
From Washington, DC, in the United States, Marius Mihigo told us that if he decided to rely on a court decision, “it is above all a question of reputation and probity”. He says he is “ready to fight for his honor”. He has already instructed his lawyers to file a complaint “in due form for defamation”.
The obstacle course
Marius Mushagalusa Mihigo Ngalamulume known as <Marius Mihigo>, graduate in International Relations from the CEDS in Paris, holder of an Executive MBA in Management of Intelligence and Security Agencies from the CF2R (French Center for Intelligence Research) and former Program Auditor negotiations at the universities of Harvard in the USA and Oxford in England. International consultant in business since 1993, specializing in negotiations, economic intelligence and international business facilitation. He has been special envoy to several Heads of State and Government, special adviser and administrator in several non-State organizations as well as a volunteer with several charities.
Business and Finances : How did you react to the Australian Financial Review article, and relayed by other media on the alleged amount of 6 million dollars to be paid to you by AVZ?
Marius M. Mihigo : It's racism, quite simply. For this journalist (Tom Richardson of AFR) and others, when an African receives fees in the millions of dollars, it means that he is going to use part of his remuneration to bribe the agents of the State or the country authorities. Do you really think that if it was a white guy getting millions of dollars for his performances, these people would be talking about kickbacks? Moreover, it is not a question of 6 million but of a million dollars and reimbursement of various expenses paid not in cash but directly by transfer.
BEF : These accusations certainly mortgage your reputation and that of AVZ, but they also rot the business climate in the country...
MMM : My reputation and that of AVZ remain intact. Personally, I have represented the interests of more than 20 multinationals over the past two decades in strict compliance with the Foreign Corrupt Practices Act (FCPA). As far as the business climate is concerned, I imagine that Mr. Richardson's racist motives lead him to also want to discredit the DRC.
BEF : Why, in your opinion, are we attacking AVZ?
MMM : The attacks on AVZ are part of a smear campaign designed to destroy AVZ's reputation with the head of state in order to get President Tshisekedi to order AVZ to be expelled from the DRC.
BEF : Naturally, AVZ opposes the approach of the Minister of Mines… What would happen if the company took the dispute to a court of arbitration?
MMM : It goes without saying that in the event of international arbitration, the DRC would lose. But we are not there yet.
BEF : What is the state of the situation in the AVZ affair?
MMM : Currently AVZ is serene because having respected all its commitments and having seized the highest hierarchy of the country in order to return to its rights as an investor.
AVZ is also happy that the 221 mining squares have become part of the assets of Dathcom Mining SA, of which AVZ remains the majority shareholder. It is desirable that the Minister of Mines take an amending decision including the 221 mining squares, grant the exploitation permit to Dathcom Mining SA and that notification be made in order to start the project.
BEF : What is the current position of the Australian mining giant and what does it expect from the state?
MMM : That the state protect AVZ in accordance with the constitution, the mining code, establish a win-win consultation framework, and allow it to finance the project.
BEF : Do you think that behind the anti-AVZ media campaign, there are people who want to settle accounts with you politically?
MMM : Yes, definitely. It is obvious that my background bothers some people.
BEF : What is your relationship with President Tshisekedi?
MMM : My relationship with the Head of State does not date from today. I have been active in the UDPS since 1990. I officially served the Head of State from July 1, 2020 to February 28, 2021 as an expert in the political, defense and security cell of the presidential strategic intelligence council with rank adviser to the President of the Republic. Since leaving the presidency, I have had no special relationship with the President. I have a deep admiration for President Tshisekedi and have great respect for the work he does for our nation.
BEF : We have seen President Tshisekedi get rid of close collaborators soaked up to their necks in cases of corruption and bribery... Aren't you afraid that this will happen to you too?
MMM : I am not involved in any form of embezzlement and I am not a member of the presidential cabinet. I am therefore not concerned by the purge in question.
TDITD
Top 20
Seen that, my thoughts were, about time.... oh wait *grabs African English translator, checks 'very soon' ah ffs, another 6 months away.
Also, I hope this isn't the 'news' or the 'unexpected' that is mentioned nudge nudge wink wank
as this is very much overdue and expected yesterday.
Albanese stresses importance of local battery manufacturing in Australia
Prime Minister Anthony Albanese used an address to the National Press Club on Wednesday to solidify his stance on establishing a critical minerals value chain here in Australia to compete in global export markets, improve our sovereign capability, and take advantage of the abundance of resources.Get off the VOICE agenda and get on with it Albo !!!
ffs
TDITD
Top 20
fucken asleep
Did you wake up all wet and sticky?
MoneyBags1348
Top 20
b) Market value of COMINIERE SA's 15% of shares in DATHCOM Mining sold to ZIJIN Mining.
While the final feasibility study of the LITHIUM-only deposit project had communicated its results according to which the 100% of DATHCOM's shares were worth USD 1,028,000,000 and that the 15% of COMINIERE's shares were already worth USD 154,200,000, these (15% of the shares) were sold to ZIJING MINING for the derisory amount of USD 33,440,000, resulting in a loss of revenue of USD 120,760,000.
This sale engages the responsibility of the management of COMINIERE and the Ministry of the Portfolio which had given the authorisation.
c) Use of USD 33,440,000 of the proceeds from the sale of COMINIERE's 15% shares in DATHCOM
While the fundamental reason given for selling this 15% of the shares was to improve COMINIERE's operations, it was found that the amount of USD 33,440,000 was squandered as follows:
• 5% of the transfer price, i.e., USD 1,672,000.00 paid to FOCUS PLAIDOIRIE as commissions and fees;
•5%ofthetransferprice,i.e.,USD1,672,000.00paidtothemembers of the Board of Directors as exceptional remuneration;
• USD 700,000.00 paid to the two consultants who produced complacency studies on the basis of a price dumping for the transfer of the 15% of the shares was carried out;
• USD 770,662.00 for remuneration of staff
III. CONCLUSION
The General Inspectorate of Finance concludes that COMINIERE S.A. mining assets were intentionally sold off by its management team with the participation of the Ministry of the Portfolio.
Kinshasa, 30 November 2022
GENERAL INSPECTORATE OF FINANCE
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Remark
Top 20
cruiser51
Top 20
Translated from French by Google
https://miningreview.com/battery-metals/avz-minerals-and-drc-ministry-of-industry-to-develop-sez/…
How many Special Economic Zones for electric batteries in the DRC? Kinsevere, ZES of Manono announced by PR05
@fatshi13 at Mining Indaba, Chinese ZES of Mr. Paluku
Julien Paluku
Translated from French by Google
#RDC - #CHINE :
After the installation of the Congolese Battery Council, working session today with ZHU JING, Chinese Ambassador. On the menu: the interest of Chinese companies (including CATL) in the electric battery value chain project and the Chinese SEZ
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