DRC Minister of Mines signs the exploitation permit in favor of AVZ Minerals, What next?
The Minister of Mines of the Democratic Republic of Congo (DRC), Antoinette N’Samba Kalambayi, has signed an order granting an exploitation permit to the mining company AVZ Minerals for its Manono lithium project.
The announcement was made by the Australian mining operator on Wednesday May 4, 2022.
With the signing of this decree, he thinks, AVZ Minerals is thus entering a decisive turning point for its plans to materialize this flagship asset, the Manono lithium project.
Once the document from the Minister of Mines has been obtained, AVZ Minerals is therefore obliged to pay the surface rights to the mining cadastre, through its subsidiary Dathcom, to make the allocation official.
Experts inform that this last step should be completed within a few days.
“ The receipt of the ministerial decree awarding the mining license paves the way for AVZ to begin developing what is arguably one of the most important new mining projects in the world, which will contribute significantly to global green energy transition ,” said Nigel Ferguson, CEO of AVZ Minerals.
According to inside sources, a final investment decision is expected in the next few days before starting construction of the Manono mine.
For now, we are informed, AVZ Minerals is working to raise the necessary funds (545.5 million dollars), alongside its Chinese partner Suzhou CATH Energy Technologies.
The first tonnes of lithium spodumene are expected around the last quarter of next year.
