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DRC – AVZ file: Tshisekedi's arbitration is expected by Marius...

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    20/02/23
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    Post #: 66345250

    DRC – AVZ file: Tshisekedi's arbitration is expected by Marius Mihigo


    February 18, 2023
    Written by :

    In a press article published on February 17, 2023, the Africa business + online media reveals that the former expert on the presidential council for strategic intelligence with the rank of adviser to the president from 2020 to 2021, Marius Mihigo intervenes on behalf of AVZ minerals since June 2022, to defend its rights to one of the world's largest lithium deposits, Manono of 4 million. With demand set to multiply to 42 by 2040.

    According to the AiE, the minerals are attracting covetousness, starting with those of the Chinese giant Zijin Mining, which claims rights to the project.

    The same document indicates that since the beginning of his mission, Mihigo has already met for the first time with the President of the Republic, Félix Tshisekedi on June 13, 2022 with the Managing Director of AVZ Minerals Nigel Ferguson and in particular also again on June 22 with the lawyer for the Australian junior Christian Lukusa.

    Above all, it should be noted that the AVZ company is faced with several difficulties, including the non-validation of Manono's operating permit by the mining cadastre. The latter has never, in fact, notified the operating company of the project, DATHCOM MINING, controlled by AVZ, within 5 regulatory days, at the end of April 2022. In the absence of formal entry into force of the license, the mining has suspended the listing of its title on Australian Securities. Exchange since May 2022, notes the same source.

    Noting these various blockages, the president convened a meeting of all the parties to the project on June 29, at the Palais de la nation. On this occasion, he asked his portfolio minister Adèle Kahinda to create a commission in charge of DATHCOM. But in vain, the conclusions Adèle Kahinda did not go in the direction of the Australian company and recommends on the contrary to reduce its role in the project, even to exclude it from it.

    AVZ has been experiencing a new challenge since the beginning of the year. On January 28, in two ministerial decrees of which Africa business+ obtained copies, the Minister of Mines Antoinette Nsamba Kalambayi, long in favor of the AVZ project, suddenly canceled the decree of April 25, 2022 granting the Manono exploitation permit to DATHCOM. The minister justified this decision because of the ongoing shareholder battle to save the project.

    According to this Media, this suspension caused AVZ to jump: its CEO Nigel Ferguson, president of DATHCOM had sent a letter on behalf of DATHCOM to the Minister of Mines accusing it of violations of the mining code, explaining to her that conflicts between shareholders were not a matter of his competence.

    A few days later, the document clarifies, “the Mining Indaba conference in Cape Town, Félix Tshisekedi declared that he wanted to clean up the investment climate in the DRC's mines. As of this article's closing date, he had yet to respond to DATHCOM's request. For his part, Marius Mihigo was urgently dispatched by AVZ to request an interview with the Head of State.

    It should be noted that previously, the consultant was the target of an article in the Australian press taken up by a Congolese media OPINION INFO accusing him of corruption in respect of remuneration for his consulting services.

    https://challengeinfo.cd/rdc-dossier-avz-larbitrage-de-tshisekedi-est-attendu-par-marius-mihigo/
    AVZ Price at posting: 78.0¢ Sentiment: Hold Disclosure: Held
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