RDC: AVZ Minerals reçoit l’approbation de son étude...

RDC: AVZ Minerals reçoit l’approbation de son étude environnementale du projet de lithium-étain de Manono

DRC: AVZ Minerals receives approval for its environmental study of the Manono lithium-tin project

AVZ Minerals has taken a further step towards obtaining a mining license for its flagship Manono lithium-tin project from the government of the Democratic Republic of Congo (DRC), following the approval of its environmental and social impact study (ESIA). The final version of the ESIA was signed by the Directorate for the Protection of the Mining Environment (DPEM) of the DRC Ministry of Mines. This important step brings AVZ closer to obtaining a mining license and finalizing a bankable feasibility study on the project before making its final investment decision. The environmental approval of the EISA report by DPEM is the first step in the process of granting a mining permit, according to Congolese law. AVZ is now awaiting technical approval of the Final Feasibility Study (DFS) report by the Direction des Mines which, according to AVZ, is currently under review and "is progressing very well". The stage will be followed by the validation of the Mining Cadastre (CAMI). Which, according to AVZ, shouldn't be a problem. At the end of this approval process, a draft ministerial decree drafted by CAMI will then be submitted to the Minister of Mines for final approval. AVZ Managing Director Nigel Ferguson described DPEM's approval of the final ESIA as a "very encouraging development which means that the DRC government broadly supports Manono's project." " All outstanding permit requirements, including mining permit, Mpiana Mwanga Hydroelectric Power Plant Agreement (HEPP), Collaboration Development Agreement and Manono Special Economic Zone (MSEZ) proposed, are on track and the company is making rapid progress towards finalizing a bankable feasibility study and securing financing for the project, with a final investment decision expected in the fourth quarter of 2021, ”he said. . The feasibility study is progressing well Regarding the bankable feasibility study, AVZ said the financial model review "is progressing well" and the study is expected to be delivered once the mining license is granted. Mr. Ferguson also stressed that these approvals met many conditions for the project financiers who are ready to commit. “ All of the factors align around our discussions on project funding, with the project on the verge of achieving bankable status and intense global interest in the green battery minerals sector. " AVZ indicated that it is actively engaged with various commercial banks, financial brokers, private equity investors and non-commercial lenders such as Pan-African Development Financial Institutions (DFIs), to secure financing for development. by Manono. According to the operator, this update follows news earlier this week that drilling at the Carrière de l'Est pegmatite deposit, as part of the Manono project, has confirmed the presence of spodumene for future infill estimation programs. The results should make it possible to target high-grade zones (more than 2% lithium oxide) at shallow depth for the spodumene concentrate feed to the treatment plant proposed by Manono.