AVZ Discussion 2022

[Mute22]

AVZ Minerals to resume proceedings against DRC over disputed lithium deposit

The unresolved issue poses a potential hurdle for California-based metals exploration firm KoBold Metals' plans to acquire AVZ.

www.mining.com

AVZ Minerals to resume proceedings against DRC over disputed lithium deposit​

Reuters | June 23, 2025 | 5:45 pm Battery Metals Africa Lithium

The Manono lithium-tin project in the DRC. (Image courtesy of AVZ Minerals.)
Australia’s AVZ Minerals said on Tuesday it will resume proceedings against the Democratic Republic of Congo (DRC) over mining rights to the Manono lithium deposit after the parties were unable to reach a settlement on a legal dispute over the deposit.

The unresolved issue poses a potential hurdle for California-based metals exploration firm KoBold Metals’ plans to acquire AVZ Minerals’ stake in one of the world’s largest hard rock lithium deposits.

AVZ initially held the permit to develop the Manono project, but in 2023 the DRC’s mines ministry revoked this permit on the basis that the project had not advanced quickly enough.

The rights were later granted to a unit of Zijin Mining, prompting AVZ to seek relief through both the International Court of Arbitration of the International Chamber of Commerce, and the International Centre for Settlement of Investment Disputes (ICSID).

The US government has been encouraging the parties to settle the dispute, which led AVZ to temporarily suspend the ICSID arbitration proceedings in late May.

AVZ, whose shares were suspended in May 2022 and delisted two years later due to the dispute, said DRC did not engage with AVZ during the suspension period and the suspension has lapsed.

The ICSID proceeding will now resume, the company said.
KoBold Metals did not immediately respond to a Reuters request for comments.
(By John Biju and Aaditya Govind Rao;

 

[wombat74]

Be nice to get some feed back from Kobold . They got f--ked over big time today by their DRC chumps . Got a steaming pile of dog sh1t for their months of effort . Expect it will make the media : "KOB--LD TAKES IT UP THE ARSE IN THE DRC" ----- " KOB--LD BROWN BAGS TOO SMALL TO SEAL MANONO DEAL " --- " KOB--LD ATTEMPT TO F--K OVER AVZ MINERALS KILLS OFF MANONO ERECTION ."

 

[Mute22]

Be nice to get some feed back from Kobold . They got f--ked over big time today by their DRC chumps . Got a steaming pile of dog sh1t for their months of effort . Expect it will make the media : "KOB--LD TAKES IT UP THE ARSE IN THE DRC" ----- " KOB--LD BROWN BAGS TOO SMALL TO SEAL MANONO DEAL " --- " KOB--LD ATTEMPT TO F--K OVER AVZ MINERALS KILLS OFF MANONO ERECTION ."

KoBold Metals did not immediately respond to a Reuters request for comments.

CEO couldn't shut his mouth only a few days ago.

 

[Doc]

For the first time I saw someone in the wild reading TSE, who was the solo traveler at the Qantas first lounge this arvo?

 

[cruiser51]

You could speculate if AVZ had gone bust at the end of last year would Kobold now have Roche Dure ? AVZ handed Kobold a sh1t sandwich today . If the DRC are against AVZ then Kobold is out .

The DRC and AVZ had to show to the USA that they had good intent and were prepared to negotiate.

Also the DRC considered any delay in ICSID proceedings something they had been playing for all along, so of course they agreed and hoped AVZ would go for another extension and another and another.
It is obvious the DRC miscalculated on that point.

However with the inclusion of CKK on the 'expert team' of the DRC to advice FT, it was painfully obvious that AVZ had Buckley's chance for the DRC being willing to negotiate with AVZ.
CKK would sign his own and wife's death sentence if he would.

In my opinion the DRC did themself a disservice in showing they had no intention to negotiate with AVZ at all, after AVZ went ahead and agreed with the DRC to apply for a suspension of the proceedings to make negotiations possible in a gesture of goodwill.

Of course the ICSID will take the DRC's attitude in consideration and, imo, it is not helpful for the DRC in its case against AVZ.
Any further attempt from the DRC to delay again will highly likely return a fuck off.
Also there is no reason for ICSID to drag this out and continue with its proceedings ASAP and a speedy outcome.

The advantage for AVZ is that ICSID will give a verdict expressed in a monetary value, so Kobold knows also what the go is.

In my opinion it is not all bad, but was to be expected.

It is clear that Felix's choice of 'expert advisors' gave an early indication the way the DRC would go.
One only has to read CKK's Communique posted on 24/3 in response to the ICC ruling that Cominière had to pay AVZ €39 million in which he made it very plain, he did not recognise any AVZ claim over Manono in any shape or form, therefore 'What fine?'.

To believe that he would advice after that to negotiate with AVZ would be playing with your willy.

All IMO.

 

[Pokok]

For the first time I saw someone in the wild reading TSE, who was the solo traveler at the Qantas first lounge this arvo?

Was he heading to the DRC

 

[Seaworthy]

I don't know about this announcement....a bit of a nothing announcement. I believe there are to many moving parts in the whole story...
The silence of CATH or any Chinese players doesn't make sense at all to me. A big question is as well who will build the lithium refinery? A refinery in Manano is necessary for cheaper transportation to make it price compatible. Zijin and whoever will get hold of Roche Dur will have the same problem and a joint venture would make sense instead of building 2 expensive refineries. For sure Cath want to get in some way or other a slice of the cake. I got the feeling that CATH is somehow still on the table.There is probably much more going on, what we don't know and what Nigel can't talk about atm. Imagine how many tight lips talks about Manano the biggest Lithium deposit in the world were held or still ongoing.
I think Kobold are only flexing muscles atm, trying to get the best deal done, while other parties in the background are watching and preparing to counter offer. In the last announcement from 24th of Mai Nigel clearly stated...
View attachment 87542
All discussions with Kobold were always NON BINDING....This was Nigel's choice not Kobolds....wondering why?

Spot on ... the timing of the ICSID hearing ended up being a little too early for the minerals deal after it was pushed out, I think this whole thing will look a lot different in a week or two after the DRC have their security deal. DRC will need to get a whole lot more flexible after that. AVZ were either going to suspend ICSID again or proceed, I'm happy Nige chose to move forward, it will strengthen AVZ's position. I think the AVZ/Kobold transaction will be complete before a decision comes out of ICSID (and USA are the key) but those sitting in the ICSID room will have a pretty good idea of who is winning the battle. The comment from today's announcement '... DRC did not engage with AVZ during the period of temporary suspension and that suspension has now lapsed' will be used by AVZ to support the argument that DRC should wear AVZ's legal costs. And as you point out @hedrox , where is Cath sitting amongst all of this? We're at the pointy end folks, chin up.

 

[Pokok]

I'm back from my swim , in Bali and before you guys say it, its a cheap flight Java and the youngest want to learn surfing , but all I could think of while sitting in a bean bag and being asked to buy everything on earth was Babi Guling , spit roast those pigs

 

[Samus]

One thing I'm not understanding is the relationship between the details of this announcement and Felix' need to engage the US for protection and support against the rebels. He was evidently pleading to engage with the US for the purposes of signing the peace agreement which as we know has to have something in it for the US (i.e. the critical minerals aspect) - otherwise what is the point of the deal from the US perspective...

Once the deal is signed, I find it difficult to imagine that reneging or deviation from the US's strategy (which the DRC must have been agreed with to even make it to the point of signing) would be allowed to let slip by the US without consequence. There's still the chance that as mentioned above, the DRC are still engaging but with Kobold instead of AVZ.

On the other hand, the DRC government have proven themselves to be fools without logic or reason so maybe they plainly do not give a crap about US consequences.

Don't forget there are a lot of other mineral resources on offer in the DRC, the politics of this might still get in the way.
We can only hope that the US force DRC's hand to the annoyance of the CCP Cu*ts in regard with this case in particular, maybe somebody in the Trump administration makes this a sticking point.
There seems to be some indication that this might be the case moving forward but no guarantees and this latest announcement isn't too promising.
Funding is again our issue now, we won't have the funds to pursue this for the next 5-10 years. Likely not even one more year if CATH now pulls funding.

 

[Retrobyte]

I'm back from my swim , in Bali and before you guys say it, its a cheap flight Java and the youngest want to learn surfing , but all I could think of while sitting in a bean bag and being asked to buy everything on earth was Babi Guling , spit roast those pigs

Were there any ayam selling their wares ?

 

[Pokok]

We should start a new count up not down so we can count the days of disappointment

 

[Pokok]

Were there any ayam selling their wares ?

plenty of ayam lalat early morning , I got propositioned by a banchong at 6am all I wanted was coffee black

 

[Pokok]

Just trying to ease the tension of today

 

[BRICK]

Were there any ayam selling their wares ?

I call them the village chickens....

 

[Retrobyte]

Just trying to ease the tension of today

Should have taken the offer from the waria in that case!

 

[wombat74]

Deboss /Jens ? Crickets . Good time for a wink .

 

[Pokok]

I call them the village chickens....

ayam kampung , I ran one over years ago cost me $5 and the owner took it , it was my dinner

 

[LOCKY82]

You could speculate if AVZ had gone bust at the end of last year would Kobold now have Roche Dure ? AVZ handed Kobold a sh1t sandwich today . If the DRC are against AVZ then Kobold is out .

It's not news the drc is against avz, and kobold likely know a lot more than any of us about the whole ordeal, I doubt this has deterred kobold much at all. The tone should be a lot different if/when peace deal is signed.

 

[marksmann007]

Let’s also remember the primary reason for AVZ to suspend ISCID was to give the US gov time to allow for a climate conducive to discussions, a gesture on our behalf to allow the US to broker peace discussions between DRC & Rwanda.
Should be signed by Friday 27th.
Lets see how things go for us once that deal‘s done…

 

[Samus]

Seems like a flawed analysis to me but nonetheless here it is.