Time for a new thread addressing the latest news today:
Manono Project Update
AVZ Minerals Limited (AVZ or Company) is aware of the signing of a framework agreement between the Government of the Democratic Republic of the Congo (GDRC) and Kobold Metals Company (Kobold) (GDRC Kobold Agreement) which,amongst other things, purports to include a commitment by GDRC and Kobold to develop the southern section of the Manono Lithium and Tin Project (Manono Project).
The Manono Project is the subject of ongoing arbitration proceedings before the International Centre for Settlement of Investment Disputes (ICSID) by the Company’s subsidiaries AVZ International Pty Ltd, Green Lithium Holdings Pte Ltd (together the AVZ Parties), and Dathcom Mining SA (Dathcom), in relation to the GDRC’s failure to grant an exploitation permit or mining permit (PE) to Dathcom in respect of the land the subject of PR 13359 (ICSID Case No. ARB/23/20).
It will be recalled that on 16 January 2024, the ICSID tribunal made interim orders, pursuant to Procedural Order no. 3 (PO3), to the effect that GDRC take necessary steps to reflect that Dathcom is the holder of PR 13359, and to protect the AVZParties rights during the pendency of the proceedings.
Specifically, PO3 required that Dathcom be re-established as holder of PR 13359, currently being converted into an operating permit, on the perimeter mentioned in article 2 of ministerial order no. 0921/CAB.MIN/MINES/01/2016 of December 28, 2016, but excluding the perimeter covered by PR 15775 and reflects the same area purported to be developed under the GDRC Kobold Agreement.
On 24 June 2025, the AVZ Parties and Dathcom filed a supplemental applicationseeking a new order against GDRC with respect to their continued non compliance with PO3, and on 18 July 2025, informed the ICSID Tribunal of the GDRC Kobold Agreement which is a breach of PO3.
Whilst AVZ was not involved in the drafting nor is a party to the GDRC Kobold Agreement, it remains open to constructive dialogue with the parties, to agree a suitable commercial outcome for AVZ shareholders, where its legal rights and existing commercial relationships are respected.
The Company confirms that discussions continue with various parties including Kobold, who wish to advance the development of the Manono Project to better balance global lithium supply chains, benefiting all stakeholders, not least the people of the DRC.Should these discussions result in any binding commitment, then the Company will appropriately advise its shareholders at that time.
This announcement was authorised for release by the board of directors of AVZ. For further information, visit www.avzminerals.com.au or you can contact the Company via telephone +61 8 6186 7600 or email
[email protected]
