Category: Lithium

The drop in lithium carbonate futures below US$10,000 per tonne has raised concerns in the market, particularly after the metal reached an impressive US$70,000 per tonne at a point in 2022. This decrease in value has significantly impacted the once-prominent Manono lithium project, rendering it unviable for further development. The Australian company AVZ, responsible for the project, has faced the fallout, bearing the weight of the irreparable losses incurred by the State of the DRC and the public company Cominière. To illustrate the severity of the situation, a comparison is… Read More Here

The Democratic Republic of the Congo (DRC) is renowned in the mining industry for its abundant resources, yet it grapples with a reputation for corruption and widespread poverty, raising concerns about the equitable distribution of wealth from resource extraction. This trend, observed in numerous industries and countries globally, seems notably pronounced in the DRC. Engaging with individuals operating within such environments, like Eric Allard, CEO of Tantalex Lithium Resources (CSE:TTX, OTC:TTLXF), offers a unique perspective on the ground reality in the DRC and sheds light on daily experiences. Allard, having… Read More Here

The dispute between AVZ Minerals and COMINIERE regarding the Manono lithium project in the DRC is yet to reach a final resolution. The International Chamber of Commerce has issued a prohibition on Congolaise d’Exploitation Minière (Cominière), restraining any actions directly or indirectly linked to the exploration and exploitation of the Manono project claimed by AVZ Minerals. This decision marks a preliminary victory for the Australian mining company, announced on November 17. Previously, AVZ had urgently sought arbitration to halt any transactions related to the Manono project. Notably, Cominière had recently… Read More Here

In a strategic move, AVZ Minerals, an Australian company, has inked a significant binding term sheet with Locke Capital, a global litigation funder. The deal, valued at $20 million, aims to address corporate, legal, and project expenses while resolving multifaceted litigation surrounding the Manono lithium and tin mine in the Democratic Republic of Congo (DRC). The funds will play a pivotal role in managing several arbitration cases at the International Chamber of Commerce (ICC) in Paris, primarily revolving around the Manono lithium permits. Notably, AVZ has secured emergency relief orders… Read More Here

Tantalex Lithium Resources Corp. (CSE: TTX – FSE: DW8 – OTCQB: TTLXF) announced yesterday November 13th the successful conclusion of a lithium marketing offtake agreement (Marketing Offtake Agreement) and a convertible facilities agreement amounting to US$5,000,000 (Convertible Facilities Agreement) with Glencore AG (Glencore). These agreements were previously disclosed in Tantalex’s news release on September 8th, 2023. The Marketing Offtake Agreement encompasses 100% of the lithium production from Tantalex’s Manono Lithium Tailings Project, starting from the commencement of commercial production throughout the mine’s operational life. Glencore will exclusively manage all sales… Read More Here

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… Read More Here

Contrary to AVZ Minerals’ claims in their announcement on October 9, 2023, it appears that there has been limited progress in the Memorandum of Understanding (MOU) between the Congolese Government and the Australian company. It seems that the Congolese side is growing frustrated with AVZ Minerals’ CEO, Mr. Nigel Ferguson, and his board for their handling of the “Manono Lithium” project. AVZ Minerals has been at the helm of this project for several years, and one would expect them to have anticipated and resolved the conflicts that are currently hindering… Read More Here