AVZ 0.00% 78.0¢ avz minerals limited

Running discussion on SP, page-63300

  1. 817 Posts.
    lightbulb Created with Sketch. 232
    AVZ Minerals Limited, the Australian company leading the Manono Lithium and Tin project announced in late 2021 that production would begin in 2023. Annual production of the lithium concentrate could reach 500,000 tons. The population of Manono, a town in eastern DRC, is divided between hope and skepticism about the implementation of this mining project.

    From our correspondent in Lubumbashi,In Manono, approximately 12,000 people live from agriculture and artisanal mining of tin and cassiterite. The announcement of the launch of lithium production in 2023 raises the hopes of the population, according to Father Moise Kiluba, head of civil society in Manono."By arriving and building its factory here in Manono, jobs will be created. And the people of Manono must be the first to benefit. Then there is the construction of the road that would make Manono accessible to the whole world," he says. A sentiment shared by the provincial government of Tanganyika. To date, this province has no mining industry despite its rich deposits of coltan, tin and gold.John Mbangu, Minister of Mines of Tanganyika Province, is already thinking about the revenues that would come from this exploitation. "The payment of taxes such as mining royalties with a good distribution key between all the decentralized entities will also contribute to the development of the country in general and the territory of Manono in particular.The challenge of electricity supplyHowever, some of the inhabitants of Manono have reservations about the mining project starting up within a year. Among the challenges to be met is the supply of electricity. Indeed, the city is only supplied by a 2 megawatt photovoltaic plant.For Dieu Merci Kabila, a resident of Manono, the rehabilitation of the 33-megawatt Mpyana Mwanga hydroelectric plant is a priority. "What does not reassure the community is that today, neither the work on the dam nor the construction of the plant has been completed. The company has only built a few houses for the workers.Agreements already reachedBut the AVZ company wants to reassure. The file for the acquisition of the operating permit has been submitted to the Ministry of Mines in Kinshasa since May 2021, as has the file for the rehabilitation of the Mpyana Mwanga power plant."The law states that we can only start developing the project when we have the operating permit and also the certification. Only then can we start the construction of the plant. But, well, we are waiting," says Baltazar Tshiseke, AVZ Minerals' representative in the DRC.In the meantime, AVZ Minerals has already signed three production purchase agreements. Among the customers is China's Yibin Tianyi Lithium Industry, one of the world's leading producers of battery materials.DRCRAW MATERIALSINDUSTRYECONOMY Africa

    https://amp.rfi.fr/fr/podcasts/afrique-%C3%A9conomie/20220120-rdc-%C3%A0-manono-l-exploitation-prochaine-du-lithium-suscite-%C3%A0-la-fois-espoirs-et-inqui%C3%A9tudes
 
watchlist Created with Sketch. Add AVZ (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.