Running discussion on SP, page-63575

Anyone have or know of a list of mining co’s in drc waiting on ml or recently approved?




I'll take this one Fellas

Only because i was looking at this at the time and i'm a Caring / Sharing kinda guy

*To remind,

China invests USD 240 million in Manono lithium mining



Along with gold, coltan, copper and cobalt, lithium is one of the resources available to the Democratic Republic of Congo to play an important role in the ongoing energy transition.

Aware of this potential, Chinese investors are securing their supply in the country of Lumumba.

In the DRC, AVZ Minerals has just concluded an agreement of at least 240 million USD for the construction of the Manono lithium project.

Announcement made on September 27 by the Australian mining company, which specifies that the new investor is Suzhou CATH Energy Technologies, a Chinese entity owned by billionaire Pei Zhenhua and his company Contemporary Amperex (CATL).

Under the terms of the agreement, CATH will take a 24% interest in the Manono project in return for its initial investment, leaving AVZ Minerals as the majority shareholder with 51%, with the remaining 25% interest being owned by the Congolese State, via the company Cominiere.

In addition, as a partner in the project, CATH will provide its share of the remaining initial capital required for the construction of the Manono lithium mine, and additional expenses to expand the project.

“We are delighted to enter into this agreement with someone of the caliber of Mr. Pei and CATL who both have the financial capability, technical expertise and credibility within the lithium battery conversion industry to complete the world-class Manono project", commented Nigel Ferguson, CEO of AVZ.

Note that the Chinese Yibin Tianyi, also a shareholder of AVZ, will sell to CATH its lithium sales contract concluded earlier this year.

Only, CATH will have access to the production of lithium spodumene (SC6) over the entire life of the project, instead of the 5-year contract initially planned.

The Chinese company may also enter into an offtake agreement for Manono's primary lithium sulphate.

The parties have finally agreed to conduct a study aimed at increasing the annual production of SC6 from 700,000 tons to 1 million tons, which will allow CATH to acquire at least 500,000 tons of lithium spodumene.

All details of this agreement remain subject to, among other things, a final investment decision for Manono, the granting of a mining permit for the project and other necessary approvals.

As a reminder, this is the second major lithium project on the continent in which China is actively involved, after that of Goulamina (Mali) with Ganfeng Lithium.

It is also the second Congolese project in which CATL has taken an interest in a few months, after its arrival in April as a partner in the Kisanfu copper-cobalt mine.






Food for thought on the Road to Definately Mining Manono with CAT asap