AVZ Minerals Wins Legal Battle Over Manono Lithium Mine in DRC
Australia’s AVZ Minerals has secured a legal victory against the Democratic Republic of Congo (DRC) and China’s Zijin Mining in a dispute over rights to the Manono lithium mine.
The company is now in talks with U.S. investors to secure funding for the project.
The International Court of Arbitration of the International Chamber of Commerce (ICC) has ordered DRC’s state-owned mining company, Cominiere, to pay a €39.1 million penalty for failing to comply with previous rulings preventing it from terminating its joint venture with AVZ.
AVZ initially held the permit to develop the Manono project—one of the world’s largest hard-rock lithium deposits—but the DRC’s mines ministry revoked it in 2023, citing delays in project development.
The rights were later awarded to a subsidiary of Zijin Mining, leading AVZ to challenge the decision through the ICC.
AVZ, whose shares were suspended in May 2022 and later delisted due to the dispute, stated that it is evaluating options to recover the awarded penalty.
The company also confirmed that it is in the early stages of discussions with U.S.-based entities to secure funding for the Manono project.
