Zijin is not an entity involved in any agreement with AVZ. Zijin/Jin Cheng has no legal claim against AVZ within the Congolese legal system that has been disclosed to SH. AVZ have legal claim with Cominere and Dathcom through the Dothomir JV agreement. Zijin Mining Co, nor Jin Chen Mining co. form no part of that agreement. Jin Cheng enter the scene on an agreement for which has been declared by the IGF, the DRC anti graft/corruption agency
Zijin is irrelevant and can not to be considered as having any valid right of access or exploration within the JV agreement. The right to mine which is a process clearly outlined in the 2016 JV agreement very clearly states that the intent is for AVZ to have full access at the stage the mining license is granted, with the only possible variation being the 15% right of refusal being granted to a third party only if the asking price is refused by AVZ.
So worst case unless the JV contract is somehow voided or terminated on mutual agreement, Zijin could receive 15% ownership only after AVZ had refused the asking price to acquire the final slot of ownership. This leaves a 90% AVZ 10% DRC ownership, after the CATH deal it leaves a 66% AVZ / 24% CATH / 10% DRC ownership structure.
As far as I am aware, AVZ, the DRC and CATH have no dispute, so the harmonisation of interested parties clause has already been met unless there are matters undisclosed to market. Again, Zijin is not a party of legally recognised interest, in the DRC or internationally. I expect this will be confirmed upon ICC determination in the Zijin vs AVZ case.
Yes, I have seen and translated word for word, the 2016 JV agreement. I will not share it here, because HC AVZ threads are filled with sweaty boys in white singlets huddled together around red computers trying to work out how to fleece genuine holders.
I hear the roads to Manono can be unsafe, it is not coincidental that AVZ have never had security issues between Kinshasa and Manono - the same may not be guaranteed for Jin Cheng and Zijin.
I have attached a contract from 2021 that proves that Zijin and Cominere were doing more business leading up to the attempted theft than just at Manono. Another miner - Force Commodities in bed with partners with a questionable history.
5493-congolaise-dexploitation-miniere-commere-jin-cheng-mining-limited-amen....pdf
Ann: Issue of two new Ministerial Decrees, page-135
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