AVZ Discussion 2022

[Samus]

NEWSECONOMY

Manono lithium: from MANOMIN to DATHCOM, from PE12202 to PR13359, from DATHOMIR to AVZ​

February 23, 2023
Kiki 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]

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]

It seems that the reshuffled government is coming very soon. That the corrupt ministers, compromised and quoted in the reports of investigations and various audits as well as those who have interests in the mines leave otherwise, the change is not for today. (Civil society)

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.

 

[John25]

Weeks in Suspension

 

[BEISHA]

Sino-Congolese contracts: when Adolphe Muzito deplored an "injustice" against the Congolese people

The publication, last week, by the General Inspectorate of Finance (IGF) of the report on the execution of the Agreement between Chinese companies and the Congolese government continues to be debated.

In this report, the IGF noted the fact that of the 12 billion dollars already generated in this deal, only 822 million benefited the Democratic Republic of Congo with regard to the infrastructure component.

A year ago, the former Prime Minister, Adolphe Muzito, had come to the same conclusion and the same figures.

In an interview with the South-China Morning Post media in March 2022, he already indicated that of the three billion planned for infrastructure, “only 800 million dollars have been disbursed, but still no infrastructure in sight”.

For Adolphe Muzito, this constitutes an "injustice" against the Congolese people.

He thus pleaded for the revision of this agreement so that it "guarantees the rights of investors and the Congolese people".

These so-called "win-win" contracts were signed a few months before the appointment of Adolphe Muzito as head of government in 2008.

Its implementation began in 2012, when the latter had already left the Prime Minister's Office.

mediacongo

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.

“I want to make sure we use the lithium, nickel, and other products we have to make batteries here,” he said.

“That’s part of the vision of protecting our national economy going forward.

“I think we should be making solar panels here.

I think we should be making so many more things here in order to protect our national sovereignty.

“Rare earths and critical minerals are part of the National Reconstruction Fund, it is about taking those things here, providing financing for Australian-based businesses to invest and value-add here.”

The comments came in response to a question about Chinese foreign investment in Australia and the critical minerals sector, particularly in the lithium space.

“Why aren’t we making more batteries here? We have almost half of the world’s lithium deposits,” Albanese said.

“I was in Perth and Port Hedland yesterday, if you went to Port Hedland as I did, I have been there many times – but 20 years ago, no-one would have been coming up to you and saying, ‘Hi, I’m a lithium company.’

“They were queuing up.

“I’m certain there were, without doing a head count, there were over 200 people there – lithium has an extraordinary capacity, we need to not just dig it up.”


View attachment 30430


View attachment 30431

View attachment 30432

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]

Yep. With an AVZ share price of $5 and dividend of 11c I know where I'd be .. .. .. .. .. .. ..

TC.

fucken asleep

 

[Thaz]

I had a dream that we got released from suspension

..

That was a nice dream.

 

[CHB]

I had a dream that we got released from suspension

..

That was a nice dream.

Did you wake up all wet and sticky?

 

[BEISHA]

Did you wake up all wet and sticky?

 

[Thaz]

Did you wake up all wet and sticky?

does waking up with a cold sweat count?

 

[Spikerama]

I want to create another poster. This one about the Princess.

Does anyone have an English translation of the IGF report or better still a summary of the section that implicates her?

I just want to be very clear and accurate with the rhetoric.

 

[MoneyBags1348]

I want to create another poster. This one about the Princess.

Does anyone have an English translation of the IGF report or better still a summary of the section that implicates her?

I just want to be very clear and accurate with the rhetoric.

https://static1.squarespace.com/static/5934d2ae6b8f5beeb5ba23f3/t/638ee2df77e76824d82d6fff/1670308576126/20221130+-+IGF+Report+on+the+Management+of+DRC+Mining+Assets+by+COMINIERE+SA+-+ENG.pdf

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

 

[Remark]

I want to create another poster. This one about the Princess.

Does anyone have an English translation of the IGF report or better still a summary of the section that implicates her?

I just want to be very clear and accurate with the rhetoric.

Or

 

[cruiser51]

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

 

[cruiser51]

AVZ and DRC Ministry of Industry to develop SEZ​

ByGuest Contributor
Feb 18, 2020


AVZ Minerals has executed a binding MoU with the Ministry of Industry for the development of a Special Economic Zone (SEZ) in Manono, in the Tanganyika Province in the Democratic Republic of Congo.
The purpose of the MoU is to set up the terms for collaboration and negotiation between the Ministry of Industry and AVZ with a view to establishing the “Manono Special Economic Zone” in the Tanganyika Province and the development of basic infrastructure within the same.
Development of the Manono Lithium and Tin Project and associated infrastructure for mining operations including the export of product, would be at the core of these developments.

Read more about mining in central Africa
AVZ management team, led by Balthazar Tshiseke, Serge Ngandu and Christian Lukusa, on behalf of its 60% controlled subsidiary Dathcom Mining SA, presented the Manono Lithium and Tin Project to a panel of delegates from the Ministry of Industry, the Special Advisor to the President on Infrastructure and the Head of the Special Economic Zone Agency.
In essence, a Special Economic Zone provides for an “investor to enjoy exemptions or reductions, either permanently or temporarily, in a degressive or non-degressive manner, with or without the possibility of renewal or extension, on direct or indirect taxes, domestic duties and taxes, national, provincial and municipal royalties, import or export duties payable in Democratic Republic of Congo”.
AVZ as the developer of the SEZ, would be eligible to additional benefits from the Congolese Government as opposed to being purely an investor in the SEZ.
AVZ intends to secure the services of a suitably qualified manager to run the SEZ under contract which will be a joint venture between the Government, a financier, a manager and AVZ. Further terms for this joint venture will be discussed.
The MoU has a 12-month term and can be terminated in the event of non-performance by either party. Within four months of executing the MoU, AVZ will commit to defining and delineating the geographical area of the “Manono Special Economic Zone”.
The defined geographical area will initially include all essential infrastructure such as water, power (the Mpiana Mwanga hydro facility) and roads including the Manono Lithium and Tin Project licences (PR13359, PR4029 and PR4030) to facilitate a successful mining operation.
Read: AVZ Minerals DFS study expected end-March
A special workshop including the respective government representatives, has been organised in March to address these matters, including the framework for development and satisfaction of all conditions for the SEZ.
Under the MoU, the Ministry of Industry of the DRC commits to:

• Grant all necessary legal authorisation for the completion of the SEZ;
• Make all relevant information available to AVZ and facilitate team missions;
• Engage with AVZ in a Public Private Partnership; and
• Support AVZ in its administrative process to develop basic infrastructure including the Mpiana Mwanga hydroelectric power plant, communication channels (Roads, Rail, lake transport, etc.) that would contribute to the promotion of the industrialisation in the Manono SEZ and, in particular, to that of the lithium industry in the DRC.

AVZ’s MD, Nigel Ferguson, said: “We are extremely excited by this major step forward for the Manono Lithium and Tin Project. The Congolese Government has executed on what they stated they would do in support of the Manono district and they clearly agree with us, in that AVZ’s Manono Lithium and Tin Project can be a major catalyst for the redevelopment and invigoration of the Manono district to its former glory.”
At the signing of the Memorandum of Understanding, the Minister for Industry, the Honourable Minister Julien Paluku, stated: “Industry must now be a factor of stability and peace with the creation of wealth and jobs…” because “we intend to change the perception and transform this ‘triangle’ into a ‘triangle’ of industrialisation that will result in job creation…”
Ferguson said: “AVZ is very much onboard with the redevelopment of the province to allow what was once a bustling industrial and mining community to again be allowed to shine through direct investment in infrastructure, job creation and the education of its residents on the back of the Manono Lithium and Tin Project being commissioned.”

 

[JAG]

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

And a quick reply to that post....

 

[TheCount]

I want to create another poster. This one about the Princess.

Does anyone have an English translation of the IGF report or better still a summary of the section that implicates her?

I just want to be very clear and accurate with the rhetoric.

TC

 

[Samus]

View attachment 30475

Or

View attachment 30476

 

[Remark]

I think we should start up a GoFuckme account for the Princess, the poor thing.

Of course we would have to deposit the proceeds into a brown paper bag so she'd know what it was

 

[Spikerama]

https://static1.squarespace.com/static/5934d2ae6b8f5beeb5ba23f3/t/638ee2df77e76824d82d6fff/1670308576126/20221130+-+IGF+Report+on+the+Management+of+DRC+Mining+Assets+by+COMINIERE+SA+-+ENG.pdf

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

https://static1.squarespace.com/static/5934d2ae6b8f5beeb5ba23f3/t/638ee2df77e76824d82d6fff/1670308576126/20221130+-+IGF+Report+on+the+Management+of+DRC+Mining+Assets+by+COMINIERE+SA+-+ENG.pdf

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

That's perfect MoneyBags. Thank you kindly.