Lithium - Copperbelt Katanga Mining

Tantalex Lithium Secures Glencore Partnership with Offtake Agreement and $5M Financing 1

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

Mining in DRC Battery Metals Lithium

AVZ Minerals Seeks Emergency Arbitration Over Manono Lithium Mine Dispute

October 30, 2023October 30, 2023 Constance

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

Mining in DRC Battery Metals Cobalt Events & Expos Lithium Nickel

DRC Prime Minister Calls for EU Aid Against Illicit Mineral Exploitation at Global Gateway 2023 Forum

October 27, 2023October 27, 2023 Constance

Prime Minister Jean-Michel Sama Lukonde has successfully concluded his visit to Brussels, Belgium, where he represented the President of the Democratic Republic of Congo, Félix Antoine Tshisekedi Tshilombo, at the Global Gateway Forum held on October 25 and 26, 2023. His mission was to engage European private investors and encourage their participation in the development of the Democratic Republic of Congo, focusing on digital, energy, and ecological transitions. During the forum, the Prime Minister played a pivotal role in addressing significant development issues and formalizing agreements. He shared a summary… Read More Here

Mining in DRC Battery Metals Lithium

Latest Developments in the Manono Lithium Evolution

October 26, 2023October 26, 2023 Constance

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

Mining in DRC Battery Metals Cobalt Copper Lithium

Zijin Mining Asserts Its Right to Develop Manono Lithium Mine in the DRC

October 25, 2023October 25, 2023 Constance

China’s Zijin Mining is determined to move forward with the contentious Manono Lithium mine in the Democratic Republic of Congo (DRC) after being granted permission to develop the deposit. Originally owned by Australian AVZ Minerals, the mineral-rich site had its permit revoked by the DRC’s mines ministry due to slow development progress. As a top gold and copper miner in China, Zijin has been actively acquiring lithium assets in South America and Africa to supply the electric vehicle battery industry. Zijin’s subsidiary, Jinxiang Lithium, holds a 61% stake in Manono… Read More Here

Lithium

DRC’s Manono Lithium Project Shows Strong PEA with $764M NPV and 87.4% IRR

October 9, 2023October 9, 2023 Constance

Tantalex Lithium’s Manono lithium tailings project in the Democratic Republic of Congo reveals a strong pre-tax NPV of approximately $764 million at a 10% discount rate and an 87.4% IRR on a nominal basis. The PEA also shows a pre-tax NPV of about $638-million and an 82.3% IRR on a real basis. It indicates a rapid payback of one year after first production using a life-of-mine (LoM) spodumene concentrate price of $2 800/t, as forecast by international price reporting agency Fast markets. This project capital cost estimate is $147.7-million including… Read More Here

Mining in Zambia Battery Metals Cobalt Lithium Mining in DRC Partnership

EU Nurtures Partnerships with DRC and Zambia to Secure Critical Materials

September 28, 2023September 28, 2023 Constance

The European Union (EU) is working on partnerships with the Democratic Republic of Congo (DRC) and Zambia to strengthen local industries in the face of growing competition with China for essential resources in the green and digital sectors. A forthcoming memorandum of understanding will signify the EU’s support for cultivating local value chains, especially since a significant portion of critical material processing, such as lithium and cobalt, currently occurs in China. The EU’s objective is to diversify the suppliers of crucial resources and counter China’s substantial infrastructure investments in regions… Read More Here

Mining in Zambia Battery Metals Lithium

Zambia Revenue Authority Seizes Truck Carrying Lithium in Anti-Smuggling Operation

September 20, 2023September 24, 2023 Constance

The Zambia Revenue Authority (ZRA) has taken action to intercept and seize a truck attempting to smuggle one of Zambia’s strategic minerals, Lithium, at the Kazungula One Stop Border Post (OSBP). This operation was conducted in cooperation with the Ministry of Mines and Minerals Development as part of ongoing efforts to combat illicit mineral exports. The incident unfolded when ZRA officials, working alongside Ministry of Mines and Minerals Development personnel, initiated an investigation into a group of exporters suspected of misclassifying valuable mineral products for export. Acting on a tip-off,… Read More Here

Mining in DRC Battery Metals Cobalt Copper Lithium

EU Commissioner Reassures Investment in DRC’s Critical Minerals

September 15, 2023September 15, 2023 Constance

During a meeting in Lubumbashi, Didier Reynders, the European Union Commissioner for Justice, conveyed strong support from European economic operators for investing in the development of critical minerals in the southeastern region of the DRC, as well as emphasizing the importance of addressing the social aspects of mining. Reynders explained, “The goal is to establish strategic partnerships in the mining sector for critical minerals, enabling European operators to actively engage in enhancing the social aspects of mining exploitation. We are committed to increasing the value of work in the mining… Read More Here

Mining in DRC Battery Metals Cobalt Lithium Partnership

Glencore Strikes Strategic Agreement with Tantalex

September 15, 2023September 15, 2023 Constance

The Canadian company Tantalex Lithium Resources operating in the Democratic Republic of Congo (DRC) and Glencore concluded a memorandum of understanding at the end of last week according to which Glencore will have to partly finance the development of its lithium residue project in Manono. Under the terms of the memorandum of understanding, Glencore must obtain, in exchange for financing, the right to purchase and market the lithium that will be produced at Manono. And the funding itself will be divided into three tranches. A first of 2 million USD and… Read More Here