"AVZ will consider what steps it will take in relation to recovery of the penalty."
Any ideas on how we will do this ?
AVZ Discussion 2022
- Thread starter GazDix
- Start date
Any ideas on how we will do this ?
Well they could let us build a mine and we'll take it out of the taxes to be paid....
The announcement stated its only a partial penalty
Means that the Com + Zijin ICC case against AVZ, is now a Com + Zijin + Dathomir case against us.
aanti.dumb
Regular
An option is to sell the debt Cominière owes AVZ to a debt collection firm at a discount and use the funds to keep up the fight.
rocknrolla
Regular
Anyone got an understanding on this?
I wonder if through the local courts we could get the order enforced through seizure of assets? A certain stake in Manono Lithium springs to mind...
Could make for a useful bargaining chip anyway in future negotiations
cruiser51
Top 20
Brown paper bags is the go in the DRC and please don't be silly and deposit it in a DRC bank
oxxa23
Regular
well we assume they've got no cash... only assets.... so legal claim over their manono entitlement... as to what value, farked if i know... my head hurts...
oxxa23
Regular
is there a straight, law abiding local court that you can count on in the DRC?
Certainly not the one headed by Mrs Kibeya!
Hodlandwin69
Regular
I'd be cautious with the article. Could be biased and weakening out resolve.
It is trying to butter us up to accept splitting the north and south. We want it all! Hold strong!
It is trying to butter us up to accept splitting the north and south. We want it all! Hold strong!
Azzler
Top 20
What a fucking piece of shit.
Please everyone let loose on this unbelievable tosser.
Fine
Is not 50c
oxxa23
Regular
per sabines post on the crapper and Australian article referenced bybwombat above
Aussie lithium explorer scores an international court legal victory over DRC and Chinese claim
BRAD THOMPSON
M23 rebels seize Bukavu amid intensified fighting in eastern DR Congo—residents flee as ports reopen after weeks of clashes.
8 minutes ago’
AVZ Minerals says it has had talks with US entities interested in acquiring a disputed lithium project in the Democratic Republic of Congo under a deal which shapes as a flashpoint in relations between the Trump administration and China.
Perth-headquartered AZV broke its silence on the talks after scoring a significant legal victory in its battle with the DRC and a Chinese mining giant over the Manono lithium project.
An international arbitration court in Paris ordered a DRC state-owned mining company to pay AVZ a penalty of €39.12m ($67.5m) plus interest in a bitter dispute over the rights to mine the massive Manono deposit.
The ruling strengthens the hand of AVZ, supported by the US, as it seeks to make a great escape from the DRC.
It has held high-level talks about the ownership and future of Manono and other mining projects as it tries to strike a critical minerals pact with the strife-torn African nation.
The US focus on the resources-rich DRC comes with a big question mark over Ukraine’s capacity to supply critical minerals.
The Trump administration also thumbed its nose at Australia’s offer to work more closely on critical minerals in return for an exemption from steel and aluminium tariffs.
AVZ confirmed the substance of The Australian’s reporting on the future of Manono on Friday in the wake of its partial victory over the DRC and giant Chinese miner Zijin in the International Court of Arbitration of the International Chamber of Commerce (ICC).
AVZ – valued at $4.6bn before a dispute over the Manono licence sent it into a tailspin – said it had been in the US for talks about raising funds to secure and develop the huge lithium project.
The talks involving managing director Nigel Ferguson and commercial manager Ben Cohen included sale options and a long-term deal for lithium offtake.
“During that visit, AVZ met with various parties who expressed interest in the Manono lithium project,” AVZ said on Friday.
“These discussions were of a fact-finding and preliminary nature and remain at an early stage. AVZ has not received any written proposal in relation to any investment or transaction and there is no certainty that any investment or transaction proposal will emerge.
“AVZ cannot comment further at this stage on the prospects or potential terms of any investment or transaction.”
It is understood both the Trump administration and the DRC favour some form of US ownership of at least the southern portion of Manono.
The disputed AVZ Minerals lithium project in the DRC.
Any deal is likely to hinge on whether the US reaches a critical minerals deal with the DRC in return for security.
President Felix Tshisekedi has reached out to the US as he fights to retain power as Rwandan-backed rebels wreak havoc and control parts of the country.
The US wants any sale by AVZ to not be complicated by residual links to China’s CATL – the world’s biggest electric vehicle battery manufacturer, which in January provided $20m in funding to AVZ to help the company continue the legal battle for Manono.
It is also understood the US wants both the DRC and AVZ to discontinue any legal action over Manono.
The ICC awarded the $67.5m penalty against DRC-owned mining company Cominière because it ignored previous emergency orders in the dispute.
It is unclear if the DRC will ever pay the penalty to AVZ.
The previous orders related to the DRC and Cominière and actions taken in splitting the Manono licence and allowing Zijin to forge ahead in the north of the deposit to the point where the multi-commodity Chinese miner is targeting first lithium production early in 2026.
AVZ maintains the DRC acted illegally by taking over its permit over the whole of Manono and then awarding the northern portion to a Zijin subsidiary in September 2023.
AVZ said it was considering steps to recover the penalty handed down by the ICC.
The ICC tribunal rejected Cominière’s application to set aside the emergency orders, and reaffirmed a series of injunctions imposed in previous hearings but ignored.
The injunctions essentially barred Cominière from performing any act or taking any action that would result from its purported termination of a joint venture company known as Dathcom, along with a penalty of €50,000 a day for any noncompliance.
The Dathcom joint venture between AVZ and Cominière at one time also involved a company controlled by Chinese businessman Cong Mao Huai, or Simon Cong.
Some of AVZ problems in the DRC can be traced back to Mr Cong’s Dathomir and a dispute over the sale of its stake.
Sources close to talks that played out in Washington earlier this month have said the US may back AVZ being handed back the southern licence only to avoid a full-blown conflict with China.
AVZ was suspended from trading on the ASX for two years before announcing it would de-list in May last year. Its West Perth offices were raided by Federal Police investigating bribery allegations – which AVZ denies – last December.
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