DRC MINING LEGISLATION
- Thread starter MoneyBags1348
- Start date
Dave Evans
Regular
01/11/2023
Carlos posted
I have zero doubt AVZ completed the SPA's correctly
AVZ made the payment and Cong's bank returned it as previously instructed by Cong's letter of opposition on July 5th 2021. The writ of summons from the Commercial Court of Lumbashi was served on August 28th 2021 which was after AVZ completed the SPA's on August 16th 2021.
Carlos posted
I have zero doubt AVZ completed the SPA's correctly
AVZ made the payment and Cong's bank returned it as previously instructed by Cong's letter of opposition on July 5th 2021. The writ of summons from the Commercial Court of Lumbashi was served on August 28th 2021 which was after AVZ completed the SPA's on August 16th 2021.
Dave Evans
Regular
02/11/2023
Carlos Posted
What Cong is doing is extortion motivated by, as AVZ describes so perfectly, seller's remorse
However if it's a choice of ongoing suspension or just give this dipshit more cash / shares then sure management have my support to get a settlement done but AVZ are 100% correct in these matters and will absolutely fucking crush Cong at the ICC if need be
Carlos Posted
Like I said I have zero doubt AVZ completed the SPA's correctly
What Cong is doing is extortion motivated by, as AVZ describes so perfectly, seller's remorse
However if it's a choice of ongoing suspension or just give this dipshit more cash / shares then sure management have my support to get a settlement done but AVZ are 100% correct in these matters and will absolutely fucking crush Cong at the ICC if need be
Dave Evans
Regular
02/11/2023
Carlos Posted
He is a clerk at the RCCM (DRC company register) office who created the certificate at Dathcom's (Represented by Graeme Johnston) request using the share transfer instruments held by AVZ's DRC lawyers that were no doubt done when the SPA's were created
He got 12 months hard time in the original judgement but that was overturned on appeal as the appeal judge found that his conviction was not established 'in fact as in law'
Carlos Posted
Papalas Musagi WabulasaDid I miss who's responsible for issuing the share certificates the DRC?
Cami JFMK?
FMD...
He is a clerk at the RCCM (DRC company register) office who created the certificate at Dathcom's (Represented by Graeme Johnston) request using the share transfer instruments held by AVZ's DRC lawyers that were no doubt done when the SPA's were created
He got 12 months hard time in the original judgement but that was overturned on appeal as the appeal judge found that his conviction was not established 'in fact as in law'
Dave Evans
Regular
02/11/2023
Carlos Posted
Carlos Posted
AVZ management knew immediately. Appeal was lodged 7 days after original judgement.
Dave Evans
Regular
02/11/2023
Carlos Posted
As long as AVZ win at the ICC or get Cong to admit the creation of the share certificate was valid they didn't need to disclose the judgement as the proceedings were heard on a false pretence stemming from a misunderstanding or more likely blatant ignoring of the dispute resolution terms outlined in Article 11.1 of the Dathcom JVA imo
Carlos Posted
The information was spurious and without merit. Sensu stricto.
As long as AVZ win at the ICC or get Cong to admit the creation of the share certificate was valid they didn't need to disclose the judgement as the proceedings were heard on a false pretence stemming from a misunderstanding or more likely blatant ignoring of the dispute resolution terms outlined in Article 11.1 of the Dathcom JVA imo
Dave Evans
Regular
02/11/2023
Carlos Posted
It's a ridiculously tight rope that AVZ management are walking with this one but they are legally correct in not disclosing as long as they win at the ICC or settle with Cong. Don't forget the ministerial decree awarding the ML for the south was done 4 months after this judgement. These proceedings are not the reason we went into suspension imo
Saying that I would have disclosed it with an immediate ICC arbitration claim against Dathomir and proper explanation to the market if I were them as trust with shareholders is more important than being technically legally right
Carlos Posted
Yeah a settlement based on Cong admitting the certificate was valid and all of his criminal claims were bullshit
It's a ridiculously tight rope that AVZ management are walking with this one but they are legally correct in not disclosing as long as they win at the ICC or settle with Cong. Don't forget the ministerial decree awarding the ML for the south was done 4 months after this judgement. These proceedings are not the reason we went into suspension imo
Saying that I would have disclosed it with an immediate ICC arbitration claim against Dathomir and proper explanation to the market if I were them as trust with shareholders is more important than being technically legally right
Dave Evans
Regular
03/11/2024
Carlos Posted
As for Felix he is the fucking president and can override this bitch anytime he wants
Carlos Posted
I meant the MoM could follow the mining code rather than her appetite for snacks. Like Nigel says it is up to her to choose the path of reason.
As for Felix he is the fucking president and can override this bitch anytime he wants
Dave Evans
Regular
03/11/2024
Carlos Posted
There are consequences for the DRC government not following the mining code and it's called the ICSID
Carlos Posted
There are consequences for the DRC government not following the mining code and it's called the ICSID
Dave Evans
Regular
03/11/2023
Carlos Posted
Cong was crying to anyone that would listen about his purported termination of the SPA's. Including the ASX. They and ASIC didn't care. Maybe they were being unreasonable. Maybe not.
Feel free to give Omni Bridgeway a call if you disagree. I'm sure they would love to hear from you. It's been a tough week for them with their Zijin non disclosure claim.
Graeme Johnston's immediate arrest order was overturned on appeal before last year's AGM on 8/9/22 pending determination of his criminal conviction in the DRC supreme court. Which if AVZ are successful in their stay request should lead to the SPA's termination dispute being decided by the ICC arbitration before going back to the DRC legal system for rectification. A successful outcome for AVZ at the ICC should result in the restoring of the share certificate and overturning of Graeme Johnston's 3 years hard time sentence plus his fine of 200,000 Congolese Francs as well as Dathcom's 'remote' potential damages liability of US$25m.
Carlos Posted
Cong was crying to anyone that would listen about his purported termination of the SPA's. Including the ASX. They and ASIC didn't care. Maybe they were being unreasonable. Maybe not.
Feel free to give Omni Bridgeway a call if you disagree. I'm sure they would love to hear from you. It's been a tough week for them with their Zijin non disclosure claim.
Graeme Johnston's immediate arrest order was overturned on appeal before last year's AGM on 8/9/22 pending determination of his criminal conviction in the DRC supreme court. Which if AVZ are successful in their stay request should lead to the SPA's termination dispute being decided by the ICC arbitration before going back to the DRC legal system for rectification. A successful outcome for AVZ at the ICC should result in the restoring of the share certificate and overturning of Graeme Johnston's 3 years hard time sentence plus his fine of 200,000 Congolese Francs as well as Dathcom's 'remote' potential damages liability of US$25m.
Dave Evans
Regular
03/11/2023
Carlos Posted
For me the question of disclosure specifically around Dathomir comes down to a question of whether Cong's process for his termination claims was correct
Article 11.1 of the Dathcom JVA is very clear. Disputes must go through the ICC. And I'm sure the SPA's contained the same clause. The fact that Cong decided to go through the back alley courts within the DRC instead of going to the ICC and the fact he doesn't want the ICC decision made public but AVZ and the ICC do says it all. I seriously doubt DLA Piper have this wrong.
Carlos Posted
For me the question of disclosure specifically around Dathomir comes down to a question of whether Cong's process for his termination claims was correct
Article 11.1 of the Dathcom JVA is very clear. Disputes must go through the ICC. And I'm sure the SPA's contained the same clause. The fact that Cong decided to go through the back alley courts within the DRC instead of going to the ICC and the fact he doesn't want the ICC decision made public but AVZ and the ICC do says it all. I seriously doubt DLA Piper have this wrong.
Dave Evans
Regular
08/11/2023
Remark Posted
Remark Posted
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Dave Evans
Regular
15/11/2023
Carlos Posted
For Dathomir it is the DRC supreme court
Even the MoP recognises this matter needs to be decided by the ICC
I'd imagine it is the same for the DRC government illegally cancelling our mining licence and then Cominiere subsequently illegally taking our tenement off us
Hopefully the DRC supreme court has more respect for the mining code and the Dathcom JVA than the lower courts have shown so far
Carlos Posted
For Dathomir it is the DRC supreme court
Even the MoP recognises this matter needs to be decided by the ICC
I'd imagine it is the same for the DRC government illegally cancelling our mining licence and then Cominiere subsequently illegally taking our tenement off us
Hopefully the DRC supreme court has more respect for the mining code and the Dathcom JVA than the lower courts have shown so far
Dave Evans
Regular
17/11/2023
Bin59 Posted
"15% of the Congolese people's shares of lithium sold and 5% offered"
NEWSECONOMY
Kiki Kienge
By Kiki Kienge
The challenge of the Congolese lithium deposit of Manono in the province of Tanganyika, in addition to being a matter of the country's development, lithium remains a standoff in international geopolitics on strategic minerals between the Western and Eastern bloc, but especially in DR Congo wolves are devoured for the interests of individuals.
In Australia, the waves continue to shake the waters, AVZ MINERALS the Perth group that has invested everything for the certification and valorization of the Congolese lithium deposit, sees a small group of its shareholders candidates for the management of the group, want and even be in contact with the Chinese of ZIJIN for an agreement on the exploitation of lithium in DR Congo.
But an alliance between AVZ MINERALS and ZIJIN advocated by the small group of AVZ shareholders, would not be in the interest of the shareholders of the Australian group, nor of the Congolese population and companies that risk losing the subcontracting market, that Chinese companies including ZIJIN already in DR Congo never cede to the Congolese as required by the law of the country of Lumumba.
As on the Russian mountains, between the sales of the shares of the joint venture DATHCOM SA, the decisions of the Congolese government and the positions of the leaders of the COMINIERE (Congolese state company), let's say it more Camelonic than referring to the joint venture contract signed with the majority partner, AVZ MINERALS.
The COMINIERE, which has already sold almost the majority of its permits through contracts that often do not go in the interests of the Congolese people and the coffers of the Congolese State, has recently found itself under the projectiles of the General Inspectorate of Finance (IGF), the body of the Presidency of the Congolese Republic, by the report of its investigation into the transfer of the shares of the Congolese taxpayer.
The IGF's control mission at the COMINIERE focused on the three points;
Document of the IGF report to the Congolese authorities on the investigation at the COMINIERE
kongopress.com
Bin59 Posted
"15% of the Congolese people's shares of lithium sold and 5% offered"
NEWSECONOMY
IGF document; sales and donation of the shares of the Congolese State (COMINIERE SA) in DATHCOM to the Chinese of ZIJIN and DATHOMIR
November 16, 2023Kiki Kienge
By Kiki Kienge
The challenge of the Congolese lithium deposit of Manono in the province of Tanganyika, in addition to being a matter of the country's development, lithium remains a standoff in international geopolitics on strategic minerals between the Western and Eastern bloc, but especially in DR Congo wolves are devoured for the interests of individuals.
In Australia, the waves continue to shake the waters, AVZ MINERALS the Perth group that has invested everything for the certification and valorization of the Congolese lithium deposit, sees a small group of its shareholders candidates for the management of the group, want and even be in contact with the Chinese of ZIJIN for an agreement on the exploitation of lithium in DR Congo.
But an alliance between AVZ MINERALS and ZIJIN advocated by the small group of AVZ shareholders, would not be in the interest of the shareholders of the Australian group, nor of the Congolese population and companies that risk losing the subcontracting market, that Chinese companies including ZIJIN already in DR Congo never cede to the Congolese as required by the law of the country of Lumumba.
As on the Russian mountains, between the sales of the shares of the joint venture DATHCOM SA, the decisions of the Congolese government and the positions of the leaders of the COMINIERE (Congolese state company), let's say it more Camelonic than referring to the joint venture contract signed with the majority partner, AVZ MINERALS.
The COMINIERE, which has already sold almost the majority of its permits through contracts that often do not go in the interests of the Congolese people and the coffers of the Congolese State, has recently found itself under the projectiles of the General Inspectorate of Finance (IGF), the body of the Presidency of the Congolese Republic, by the report of its investigation into the transfer of the shares of the Congolese taxpayer.
The IGF's control mission at the COMINIERE focused on the three points;
- The sale of the 15% of COMINIERE to ZIJIN Mining: The sale of the 15% of COMINIERE's shares in DATHCOM Mining to ZIJIN Mining was carried out in violation of the legal provisions on the withdrawal of the State of the companies in the Portfolio and caused, in view of the assessments made in the feasibility study, a significant shortfall for the Public Treasury valued at USD 116,560,000.00 (US dollars one hundred and sixteen million five hundred and sixty thousand). It was a real sale of the state's mining heritage for which you assume responsibility.
- The price of the sale of the 15% of the shares of the Congolese State: Of the total amount of the proceeds of the sale of the 15% of the shares which amounts to USD 33,4400,000.00 (U.S. dollars thirty-three million four hundred and forty thousand), you have already used about USD 6,800,000.00 (US dollars six million eight hundred thousand) for operating needs at the expense of productive investments, including USD 5,438,198.00 (U.S. dollars five million four hundred and thirty-eight thousand one hundred and ninety-eight) for commissions, snacks, fees, exceptional remuneration of all those who would have contributed to the operation.
- A free (free) donation of the 5% of DATHCOM SA's shares to DATHCOM by COMINIERE SA: The presumed free and provisional transfer of 5% of COMINIERE's shares in DATHCOM Mining to DATHOMIR Mining Sarl, but only with regard to the transfer contract, was final and irrevocable without the income from the transfer being traced back to COMINIERE.
- The mission also noted the following facts:
The inability of the Managing Director ai. to provide the management data of the company DATHCOM MINING SA in which COMINIERE SA is a shareholder;
> The effective non-representATION of COMINIERE SA in the management bodies of DATHCOM MINING SA;
> The allocation to external partners of juicy shares in joint ventures without them providing proof of guarantee of promised financial contributions;
> The absence of legal provisions that can justify COMINIERE SA being satisfied with 30% of the shares in the Joint Ventures;
> The violation, by the Partners of COMINIERE SA, of the contractual provisions prohibiting them from transferring their shares before the date of commercial production without giving rise to any reaction on your part;
> The choice of consultants FOCUS PLAIDOIRIE, Alpha BUSINESS COMPANY and Association des mandats des mines et carrières, by mutual agreement in violation of public procurement legislation;
> The transfer of research permits without payment of the transfer price to the COMINIERE while the transfer contract provides for it;
> Illegal transfers of Mining Securities by Transferees to the detriment of COMINIERE SA;
> The irregular modification of the Operating Permit by your MMR partner in the SEGMAL Joint Venture in defiance of the interests of COMINIERE SA, but with your complicity.
Document of the IGF report to the Congolese authorities on the investigation at the COMINIERE
Document IGF ; bradages et don des parts de l’État Congolais (COMINIERE SA) dans DATHCOM aux Chinois de ZIJIN et DATHOMIR - Kongo Presse
La cession des 15% des parts sociales de la COMINIERE dans DATHCOM Mining à ZIJIN Mining a été effectuée en violation des dispositions légales sur le désengagement de l’Etat des entreprises du Portefeuille et a causé, au regard des évaluations faites dans l’étude de faisabilité, un manque à...
kongopress.com
Dave Evans
Regular
Dave Evans
Regular
Frank
Top 20
*Fuck you CATH, Someone get Nigel on the Phone asap, as
EV metals demand drives Anglo American’s quest for lithium
Anglo American said on Friday is actively looking for lithium off-take deals as demand from customers, particularly those tied to the electric vehicles (EVs) sector, continues to rise.
The company, which already produces key battery metals including copper and nickel, said buyers are asking for more types of the metals considered key for the world’s transition to a greener economy.
“We don’t have a lithium mine and we don’t trade it, but we are on the lookout for lithium,” Paul Ward, head of marketing for base metals, said on the sidelines of the CRU World Copper Conference Asia in Shanghai this week.
Anglo American has been expanding into commodities beyond base and precious metals.
It bought the Woodsmith fertilizers mine in 2020, after previous owner Sirius Minerals struggled to raise funding.
Woodsmith has the world’s largest known deposit of polyhalite, a naturally-occurring mineral containing nutrients including potassium, calcium, magnesium and sulphur, which is marketed as POLY4.
Anglo, whose market capitalization currently sits at £30.36 billion ($37.7bn), bought Woodsmith for £405 million ($527m at the time).
The acquisition drove the mining giant to book a $1.7 billion writedown in February.
The company’s strategy to jump on the battery metals wagon seems less risky.
Anglo is planning to provide debt financing for brown-field or green-field projects, with the objective of getting a hold of off-take material for those metals, Ward said, according to Reuters.
“It’s a very competitive market, but [one] we’re very engaged in and then we put resources and investment behind it to find the right opportunity,” he said.
“If there are opportunities to secure lithium that’s already been mined, that we feel comfortable with, and that is in the right form that we can sell directly to our customers, then that’s also of interest,” he said.
While EV sales are growing faster than any other major car category, big industry names including General Motors, Ford and Tesla, have recently announced they would delay spending because of slower sales.
Data compiled by HSBC shows carmakers are, for the first time, having to offer deals on EVs in order to shift vehicles that previously had months-long waiting lists.
Lithium demand from the EV sector exceeded supply in 2022 for the second year in a row, despite the 180% increase in production since 2017, according to data from the International Energy Agency.
Global demand for 60% of lithium, 30% of cobalt and 10% of nickel produced last year came from EV battery makers, the IEA said.
The agency said EV sales totaled 10 million in 2022 and is expecting the figure to rise to 14 million this year.
www.mining.com/commodity/lithium
