DRC MINING LEGISLATION
- Thread starter MoneyBags1348
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Congo names new Cabinet, cementing president's power over predecessor
Democratic Republic of Congo's Prime Minister announced a new Cabinet on Monday, completing a government overhaul by President Felix Tshisekedi that strengthens his hold on power.
MoneyBags1348
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October 1st 2022
Political structure
Official nameRépublique démocratique du Congo
Form of state
Unitary republic based on the 2005 constitution
National legislature
The 500-seat National Assembly (lower house) convened in January 2019 after the December 2018 election; a 108‑seat Senate (upper house) was elected by the provincial assemblies in March 2019
National elections
Presidential and legislative elections were held in December 2018; the next presidential and legislative elections are scheduled for 2023
Head of state
Félix Tshisekedi
National government
Following the mid-term resignation of the former prime minister in January 2021, a new prime minister was appointed in February; a new government was appointed in April
Main political parties
The Union sacrée, the new majority governing coalition in the National Assembly, comprises 391 members of parliament from to 24 political groups including Mr Tshisekedi's Union pour la démocratie et le progrès social (32 seats), Vital Kamerhe's Union pour la nation congolaise (16), Jean-Pierre Bemba's Mouvement de liberation du Congo (22 seats), Adolphe Muzito Fumutshi's Parti lumumbiste unifié (Palu; 17) and Modeste Bahati Lukwebo's Alliance des forces démocratiques du Congo (41); the Front commun pour le Congo, an alliance of parties supporting the former president, Joseph Kabila, includes a small number of parties led by his party, the Parti du peuple pour la reconstruction et la démocratie; Lamuka (112 seats) is an alliance of parties supporting Martin Fayulu, but some member parties are now a part of the Union sacrée
President: Félix Tshisekedi
Prime minister: Jean-Michel Sama Lukonde
State ministers
Budget: Aimé Boji
Infrastructure & public works: Gizaro Nuvunyi Alexis
Justice & keeper of the seals: Mutombo Kiese Rose
Planning: Mwando Nsimba Christian
Key ministers
Agriculture: Désiré Nzinga
Communication & media: Patrick Muyaya
Defence: Sylvain Mutombo Kabinga
Employment, labour & social welfare: Ndusi Mpembe
Finance: Nicolas Kazadi
Foreign trade: Jean Lucien Busa
Gender, family & children: Ndaya Gisèle
Human rights: Albert Fabrice Puela
Hydrocarbons: Didier Budimba
Industry: Julien Paluku
Land affairs: Sakombi Aimé
Mines: Antoinette N'Samba
National defence & veterans' affairs: Gébert Kabanda
Relations with parliament: Karume Anne Marie
Social affairs, humanitarian actions & national solidarity: Modeste Mutinga
Tourism: Modero Nsimbao
Water resources & electricity: Muenze Olivier
Youth, initiation to new citizenship & national cohesion: Yves Bunkulu
Central bank governor
Malangu Kabedi-Mbuyi
MoneyBags1348
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Lukonde cabinet - Wikipedia
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Mr Inappropriate
Regular
MoneyBags1348
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18/12/2022
@JAG POSTED
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@JAG POSTED
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MoneyBags1348
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18/12/2022
@Mr Inappropriate Posted
Great work, Jag.
2.1.6 is quite instructive on a number of fronts:
- it implies that CAMI’s role extends beyond simply calculating the surface fees and issuing the invoice. This matches my own understanding of the Mining Code and Regs (I’ll have more to share on that later)
- it confirms the AVZ knows that this will mess with issuance of the ML
- it confirms to me that the rats in MoP, CAMI, and Cominiere also know it the transaction would mess with the ML - accordingly they have played straight into it in pursuit of their own payday and to appease their lord and master, Zinjin.
Thanks for letting me post your comments here fella’s…. This is all related to DRC Legislation
@Mr Inappropriate Posted
Great work, Jag.
2.1.6 is quite instructive on a number of fronts:
- it implies that CAMI’s role extends beyond simply calculating the surface fees and issuing the invoice. This matches my own understanding of the Mining Code and Regs (I’ll have more to share on that later)
- it confirms the AVZ knows that this will mess with issuance of the ML
- it confirms to me that the rats in MoP, CAMI, and Cominiere also know it the transaction would mess with the ML - accordingly they have played straight into it in pursuit of their own payday and to appease their lord and master, Zinjin.
Thanks for letting me post your comments here fella’s…. This is all related to DRC Legislation
MoneyBags1348
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18/12/2022
@Carlos Danger Posted
CAMI have a role to play in the favourable opinion process. As the letter from AVZ was written in August 2021 the reference to the risk of conversion to an operating licence was before the approvals were given and the Minister of Mines gave the decree in 2022 imo. Franck Fwamba and other local journalists are adamant that the only thing left for CAMI to do is add up the numbers and print a piece of paper. They have far more knowledge and experience than any of us with how the DRC mining code works.
https://thestockexchange.com.au/attachments/received_828883575120801-jpeg.24710/
@Carlos Danger Posted
CAMI have a role to play in the favourable opinion process. As the letter from AVZ was written in August 2021 the reference to the risk of conversion to an operating licence was before the approvals were given and the Minister of Mines gave the decree in 2022 imo. Franck Fwamba and other local journalists are adamant that the only thing left for CAMI to do is add up the numbers and print a piece of paper. They have far more knowledge and experience than any of us with how the DRC mining code works.
https://thestockexchange.com.au/attachments/received_828883575120801-jpeg.24710/
MoneyBags1348
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MoneyBags1348
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MoneyBags1348
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18/12/2022
From Carlos Danger
I already answered this. CAMI had to approve the conversion to PE as part of the favourable opinions process. That letter from AVZ is dated August 2021 so that was still happening. But they approved it and we legally got the PE for the entirety of PE13359 with the ministerial decree in April 2022.
That's the sick joke in all of this. CAMI have already said yes to the mining licence. Mupande is using the 'dispute' that he manufactured about the northern part of the tenement to try and get himself a bag from his mate Klaus.
https://thestockexchange.com.au/attachments/20221218_191543-jpg.24750/
https://thestockexchange.com.au/attachments/received_1629675360822177-jpeg.24751/
https://thestockexchange.com.au/attachments/received_672684961018030-jpeg.24752/
From Carlos Danger
I already answered this. CAMI had to approve the conversion to PE as part of the favourable opinions process. That letter from AVZ is dated August 2021 so that was still happening. But they approved it and we legally got the PE for the entirety of PE13359 with the ministerial decree in April 2022.
That's the sick joke in all of this. CAMI have already said yes to the mining licence. Mupande is using the 'dispute' that he manufactured about the northern part of the tenement to try and get himself a bag from his mate Klaus.
https://thestockexchange.com.au/attachments/20221218_191543-jpg.24750/
https://thestockexchange.com.au/attachments/received_1629675360822177-jpeg.24751/
https://thestockexchange.com.au/attachments/received_672684961018030-jpeg.24752/
MoneyBags1348
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19/12/2022
@Carlos Danger Posted
An interesting thing about these documents is the amount of carrés (squares) allotted to Dathcom varies between them. The favourable opinion approval by CAMI (signed by Mupande) dated 17th of September 2021 covers a perimeter of the entire 221 carrés for PE13359. Whereas the ministerial decree dated 12th of April 2022 covers the reduced perimeter of 139 carrés for PE13359 that is now shown as on CAMI's website.
AVZ recognised this in the May 4th 2022 ministerial decree announcement stating that 'the decree excludes a portion of the landholding to the north, which will need to be renewed under a five-year Permit de Research (PR or exploration licence) to Dathcom, with discussions regarding the terms of an ongoing joint venture agreement on the PR to be finalised with the DRC Government in the near future.'
Nigel said at the AGM or at one of the roadshows that Mupande told AVZ that Tshisekedi had requested the split of the tenement. But when Nigel spoke to Felix he denied asking for that to happen. Also at the AGM when queried about AJN's claim on the remaining northern 82 carrés of PE13359 Nigel responded 'their premise is that we’ve returned the northern tenement to the government. We haven’t. Draw a conclusion out of that.'
My conclusion is Occam's razor. There's a very good reason these documents are now seeing the light of day. Every once in a while, the lion has to show the jackals, who he is.
@Carlos Danger Posted
An interesting thing about these documents is the amount of carrés (squares) allotted to Dathcom varies between them. The favourable opinion approval by CAMI (signed by Mupande) dated 17th of September 2021 covers a perimeter of the entire 221 carrés for PE13359. Whereas the ministerial decree dated 12th of April 2022 covers the reduced perimeter of 139 carrés for PE13359 that is now shown as on CAMI's website.
AVZ recognised this in the May 4th 2022 ministerial decree announcement stating that 'the decree excludes a portion of the landholding to the north, which will need to be renewed under a five-year Permit de Research (PR or exploration licence) to Dathcom, with discussions regarding the terms of an ongoing joint venture agreement on the PR to be finalised with the DRC Government in the near future.'
Nigel said at the AGM or at one of the roadshows that Mupande told AVZ that Tshisekedi had requested the split of the tenement. But when Nigel spoke to Felix he denied asking for that to happen. Also at the AGM when queried about AJN's claim on the remaining northern 82 carrés of PE13359 Nigel responded 'their premise is that we’ve returned the northern tenement to the government. We haven’t. Draw a conclusion out of that.'
My conclusion is Occam's razor. There's a very good reason these documents are now seeing the light of day. Every once in a while, the lion has to show the jackals, who he is.
MoneyBags1348
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19/12/2022
Not happy about this, but is a legal matter so am putting it in this thread that relates to legislation
portal.omnibridgeway.com
AVZ shareholders who acquired AVZ shares or an interest in AVZ shares between 17 May 2021 and 6 May 2022 inclusive are invited to sign up with Omni Bridgeway below.
The class action will be run by law firm Johnson Winter and Slattery.
The Manono Project is 100% owned by Dathcom Mining SA (Dathcom). AVZ (via a wholly-owned subsidiary) holds its stake in the Manono Project by holding equity in Dathcom. Two other entities also hold (or at relevant time held) equity in Dathcom, they are:
Following a capital raising in July 2021, on 18 August 2021, AVZ announced that it had completed the acquisition of shares from Dathomir, increasing its interest in the Manono Project to 75%.
In an ASX announcement on 4 May 2022, AVZ announced a number of matters to the market in the one release. This included relevantly:
AVZ shares were placed into a trading halt on 9 May 2022, were voluntarily suspended from quotation on 11 May 2022 and remain suspended as of 19 December 2022.
The basis of the Claim is that:
AVZ shareholders who acquired AVZ shares or an interest in AVZ shares between 17 May 2021 and 6 May 2022 (inclusive) are encouraged to sign up with Omni Bridgeway below.
Omni Bridgeway encourages all group members who do not wish to opt out to sign up so that Omni Bridgeway can include you as ‘known’ funded group members and ensure you receive regular updates regarding the Class Action and, most importantly, so that any distribution from the proceeds of the Class Action to which you may be entitled is properly paid to you.
To sign up, you can do so by clicking on the “Sign up” button below. Alternatively, you can contact the Omni Bridgeway Client Liaison Team in our Perth office by email on avzminerals@omnibridgeway.com or by calling 1800 016 464 (free call in Australia) or +61 8 9225 2322 (if overseas).
Please return your completed and signed Funding Agreement and Retainer by no later than 31 March 2023.
Not happy about this, but is a legal matter so am putting it in this thread that relates to legislation
AVZ Minerals Shareholder Class Action - Omni Bridgeway
Omni Bridgeway is funding or will fund potential claims by shareholders of AVZ Minerals Limited (ASX:AVZ) (AVZ) against AVZ.
AVZ Minerals Shareholder Class Action Investigation
Omni Bridgeway has agreed to fund claims by shareholders of AVZ Minerals Limited (ASX:AVZ) (AVZ) against AVZ.AVZ shareholders who acquired AVZ shares or an interest in AVZ shares between 17 May 2021 and 6 May 2022 inclusive are invited to sign up with Omni Bridgeway below.
The class action will be run by law firm Johnson Winter and Slattery.
Background
AVZ is an Australian public company listed on the Australian Securities Exchange under ticker code ‘AVZ’ (ISIN: AU000000AVZ6). It is engaged in the business of resource exploration and mining in the DRC. AVZ’s flagship venture is the Manono Project in the DRC, which is one of the largest lithium-rich LCT (lithium, caesium, tantalum) pegmatite deposits in the world.The Manono Project is 100% owned by Dathcom Mining SA (Dathcom). AVZ (via a wholly-owned subsidiary) holds its stake in the Manono Project by holding equity in Dathcom. Two other entities also hold (or at relevant time held) equity in Dathcom, they are:
- a company called Dathomir Mining Resources SARL (Dathomir); and
- a DRC government entity called La Congolaise D’Exploitation Minière (Cominière).
Following a capital raising in July 2021, on 18 August 2021, AVZ announced that it had completed the acquisition of shares from Dathomir, increasing its interest in the Manono Project to 75%.
In an ASX announcement on 4 May 2022, AVZ announced a number of matters to the market in the one release. This included relevantly:
- positive news that the DRC Minister of Mines had signed a ministerial decree to award a Mining Licence for the Manono Project (subject to calculation and payment of a surface rights fee), but also
- AVZ sought to respond to “recent media speculation” which AVZ said it considered “spurious and immaterial”, namely:
- a reference to a decision by a tribunal in the DRC in respect of a claim by Dathomir regarding the validity of a share certificate and an extract of a shareholders’ registry from Dathcom (Dathomir Claim); and
- a claim that Cominière had transferred a 15% interest in Dathcom to Jin Cheng Mining Company Limited (Cominière Transfer Claim).
AVZ shares were placed into a trading halt on 9 May 2022, were voluntarily suspended from quotation on 11 May 2022 and remain suspended as of 19 December 2022.
The basis of the Claim is that:
- The existence of each of the Dathomir Claim and Cominière Transfer Claim are (and would have been) material to the market as they are (and were) relevant to AVZ’s stake in the Manono Project, and its ability to ultimately hold a majority interest (of at least 51%, and as much as 66%) in Dathcom and the Manono Project, which is its flagship project;
- AVZ had information about the Dathomir Claim and Cominière Transfer Claim prior to the 4 May 2022 announcement and it:
- failed to disclose this information to the market in breach of its continuous disclosure obligations under s674A of the Corporations Act 2001 (Corporations Act); and
- failed to adequately disclose the information when making positive statements about its ownership or ownership rights in respect of the Manono Project and accordingly engaged in conduct that was misleading or deceptive, or likely to mislead or deceive, or was false or misleading, in contravention of statutory provisions including s1014H of the Corporations Act, s12DA of the Australian Securities and Investments Commission Act 2001and/or s18 of the Australian Consumer Law;
- Prior to 4 May 2022 the price for AVZ shares was inflated by virtue of the non-disclosure of information related to the Dathomir Claim and Cominière Transfer Claim, and would have been lower had such information been disclosed to the market;
- As a result, shareholders who acquired shares, or an interest in shares, in AVZ in the period between 17 May 2021 and 6 May 2022 inclusive (Relevant Period) have suffered loss or damage.
AVZ shareholders who acquired AVZ shares or an interest in AVZ shares between 17 May 2021 and 6 May 2022 (inclusive) are encouraged to sign up with Omni Bridgeway below.
How much will it cost to take part in the class action?
There are no costs involved for group members who wish to take part in the class action. In the event that the class action is unsuccessful, group members do not have to pay anything because Omni Bridgeway will pay any legal costs that may be awarded to AVZ. In the event of a successful outcome, Omni Bridgeway will be entitled to reimbursement of the costs of the class action that it has paid plus a commission from the judgment or settlement amount, pursuant to the terms of the funding agreement.How can affected AVZ Minerals shareholders participate in the class action?
It is currently proposed to bring the Class Action on an ‘open’ basis, that is, on behalf of all AVZ shareholders who acquired AVZ shares or an interest in AVZ shares between 17 May 2021 and 6 May 2022 (inclusive) whether or not they sign up to the funding agreement. If you do not wish to take part in the Class Action, you will need to opt out in accordance with the relevant court rules.Omni Bridgeway encourages all group members who do not wish to opt out to sign up so that Omni Bridgeway can include you as ‘known’ funded group members and ensure you receive regular updates regarding the Class Action and, most importantly, so that any distribution from the proceeds of the Class Action to which you may be entitled is properly paid to you.
To sign up, you can do so by clicking on the “Sign up” button below. Alternatively, you can contact the Omni Bridgeway Client Liaison Team in our Perth office by email on avzminerals@omnibridgeway.com or by calling 1800 016 464 (free call in Australia) or +61 8 9225 2322 (if overseas).
Please return your completed and signed Funding Agreement and Retainer by no later than 31 March 2023.
MoneyBags1348
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19/12/2022
@Xerof Posted
It applies to anyone who bought shares after 17 May 2021, not before. Captures 125m of CR in July and December, plus all those going into ASX300/200, plus EFT funds like REMIX, possibly Cantor Fitzgerald
Registration by 31 March 23, this will take years to even get a hearing
AVZ need the win on their assertions 100% before this gets anywhere. Key question for me is who has pushed for this?
@Xerof Posted
It applies to anyone who bought shares after 17 May 2021, not before. Captures 125m of CR in July and December, plus all those going into ASX300/200, plus EFT funds like REMIX, possibly Cantor Fitzgerald
Registration by 31 March 23, this will take years to even get a hearing
AVZ need the win on their assertions 100% before this gets anywhere. Key question for me is who has pushed for this?
MoneyBags1348
Top 20
21/12/2022
@whales posted:
The CAMI is a Public corporation in administrative and technical matter with legal personality and the administrative and financial autonomy. It is placed under the supervision of the Ministers having the Mines and Finances in their attributions, each one intervening there in the sphere of its attributions.
DRC Mining - The network for the geological and mining references in D.R. Congo
AVZ Minerals Ltd (ASX:AVZ) welcomes the DRC Minister of Mines issuing a Ministerial Decree to award the Permit d’Exploitation (Mining Licence) for the flagship Manono Lithium and Tin Project.
The Minister issued the decree to award the PE to Dathcom Mining SA, in which AVZ holds a 75% interest via its wholly-owned subsidiary AVZ International Pty Ltd (AVZI).
The licence will cover the entirety of the Roche Dure JORC mineral resource (401 million tonnes at 1.65% lithium oxide) and the Carriere de l’Este exploration target.
An area excluded under the decree will be renewed under a five-year exploration licence to Dathcom, with discussions regarding the terms of the ongoing joint venture under discussion with the DRC Government.
@whales posted:
The CAMI is a Public corporation in administrative and technical matter with legal personality and the administrative and financial autonomy. It is placed under the supervision of the Ministers having the Mines and Finances in their attributions, each one intervening there in the sphere of its attributions.
DRC Mining - The network for the geological and mining references in D.R. Congo
AVZ Minerals Ltd (ASX:AVZ) welcomes the DRC Minister of Mines issuing a Ministerial Decree to award the Permit d’Exploitation (Mining Licence) for the flagship Manono Lithium and Tin Project.
The Minister issued the decree to award the PE to Dathcom Mining SA, in which AVZ holds a 75% interest via its wholly-owned subsidiary AVZ International Pty Ltd (AVZI).
Licence to be officially awarded by government arm
The DRC Mining Code requires the Cadastre Minier (CAMI), operating under the supervision of the Minister of Mines, to calculate the surface rights fee and officially award the Mining Licence following the receipt of payment.The licence will cover the entirety of the Roche Dure JORC mineral resource (401 million tonnes at 1.65% lithium oxide) and the Carriere de l’Este exploration target.
An area excluded under the decree will be renewed under a five-year exploration licence to Dathcom, with discussions regarding the terms of the ongoing joint venture under discussion with the DRC Government.
