Expedited completion of US$240M cornerstone investment with...

Expedited completion of US$240M
cornerstone investment with CATH
AVZ Minerals Limited (ASX: AVZ, OTCQX: AZZVF) (“AVZ” or “Company”) is pleased
to announce it has reached agreement with Suzhou CATH Energy Technologies
(“CATH”) to complete its US$240 million investment into the Manono Lithium and
Tin Project (“Manono Project”)
Further to the Company’s ASX Announcements on 27 September 2021
(“Cornerstone investor secured for development of Manono Lithium and Tin
Project) and 30 November 2021 (Extension of End Date to the Transaction
Implementation Agreement), the parties have now agreed to waive the following
conditions precedent:
• the Mining Licence for the Manono Project being granted to Dathcom Mining
SA (“Dathcom”);
• the entry by Dathcom and the DRC Government into the Collaboration
Development Agreement; and -
• Dathcom board and shareholders making a final investment decision and
approving the transaction.
It is anticipated that completion of the proposed transaction will occur during
March 2022, allowing for the commencement of a multi-faceted global joint
venture between AVZ and CATH focussed on multiple aspects of the battery
metals supply chain.
AVZ’s Managing Director, Mr. Nigel Ferguson, said: “Finalising our agreement with
CATH provides certainty of funding to progress development of the Manono
Project, pending the award of our Mining Licence and Collaboration Development
Agreement from the DRC Government.”
“We are in close consultation with the DRC Government authorities that are
undertaking the Mining Licence assessment and are confident of delivering a
favourable outcome for all stakeholders - most importantly the people of the DRC
and our shareholders.”
This announcement was authorised for release by the Board of Directors of AVZ
Minerals Limited.
For further information, visit www.avzminerals.com.au or contact:
Mr. Jan de Jager or Mr. Ben Cohen Media Enquiries:
Joint Company Secretary Mr. Peter Harris
AVZ Minerals Limited Peter Harris & Associates
Phone: +61 8 6117 9397 Phone: +61 (0) 412 124 833