AVZ Minerals concludes a sales contract with FL International of Ganfeng Lithium of China | DRC
The mining company AVZ Minerals announced on December 24, 2020, the conclusion of a supply agreement with GFL International, a subsidiary of the Chinese producer of materials for electric batteries, Ganfeng Lithium, reports Agence Ecofin.
With an initial term of five years and likely to be extended, this partnership covers the annual sale of spodumene concentrate (SC6), up to 160,000 tonnes, from the future Manono tin and lithium mine. in the province of Tanganyika.
“The fact that we signed our first take-off agreement with the largest Chinese producer of lithium compounds only reinforces our belief that the Manono project is world-class […] GFL has committed to take 30% of the SC6 marketable to the project every year, ”commented Nigel Ferguson, Managing Director of AVZ, adding that the company will be working on other similar deals in the coming months.
It should be noted that AVZ Minerals must mobilize USD 545.5 million to develop the Manono project. According to the forecasts of the feasibility study, the company expects an annual production of 700,000 tonnes of SC6, and 45,375 tonnes of primary lithium sulphates over a 20-year life.
