AVZ Minerals Seeks Emergency Arbitration Over Manono Lithium Mine Dispute
AVZ Minerals announced on today October 30th its intention to file an emergency arbitration application, with the aim of obtaining injunctive relief against Cominiere.
This move seeks to prevent any transaction related to the disputed Manono lithium mine in the Democratic Republic of Congo (DRC).
Last week, Zijin Mining disclosed that its joint venture, Manono Lithium SAS, in which its subsidiary Jinxiang Lithium holds a 61% stake, while DRC’s state-owned Cominiere possesses the remaining interest, was granted rights over the northeast tenement of the Manono mine.
AVZ Minerals is pursuing relief under International Criminal Court rules to protect and preserve the rights of Dathcom Mining SA, through which it claims ownership of the Manono project.
The company is currently embroiled in legal disputes with Cominiere and another Zijin subsidiary.
The permit to develop one of the world’s largest hard rock deposits of lithium initially belonged to AVZ Minerals. However, the DRC’s mines ministry revoked the permit in February, citing the company’s failure to expedite the project’s development.
In response, China’s Zijin asserted its commitment to advancing the lithium mine after receiving permission to develop the deposit.
The contest over the Manono lithium mine continues to evolve, with AVZ Minerals taking legal action to safeguard its interests, while Zijin Mining defends its right to develop the substantial lithium deposit.
