News from the Manono Lithium Deposit in DR Congo
In a recent press release, the Chinese mining company Zijin Mining Group announced that it had obtained authorization from the Congolese authorities to begin the exploration and development of the Manono lithium deposit, located in the southeast of the country. Not only is this deposit the largest in the Democratic Republic of Congo (DRC), but it is also one of the largest untapped lithium reserves in the world, with an estimate of over 400 million tonnes of mineral resources.
The Congolese mining company, Cominière, will be responsible for implementing the project, with a 61% participation from Jinxian Lithium (Zijin subsidiary) and 39% from the Congolese state. Zijin plans to start exploration work as soon as possible, and then complete construction of the mine within two years, once feasibility studies are completed and funds secured.
This authorization granted to Zijin Mining Group puts an end to the involvement of the Australian company AVZ Minerals, which initially developed the project in 2016. AVZ Minerals had initiated arbitration proceedings before the International Center for Settlement of Investment Disputes ( ICSID), accusing the DRC of not having respected the obligations of the Mining Code. The procedure is still ongoing.
The DRC is already the world’s leading producer of cobalt and the fourth world producer of copper, two metals essential for the manufacture of batteries for electric vehicles. The development of the Manono lithium deposit would thus position the country as a key player in the energy transition, by providing the raw materials necessary for the automobile industry and renewable energies.
However, the Congolese government goes further by expressing its desire to locally process these minerals. Indeed, during the DRC-Africa Business Forum in Kinshasa, President Félix Tshisekedi raised the possibility of installing a battery manufacturing factory in the DRC. However, this will require strong financial partners to realize this ambition.
The development of the Manono lithium deposit in DR Congo represents a major opportunity both for Zijin Mining Group and for the country itself. By exploiting this strategic resource, the DRC can strengthen its economy and become a key player in the electric vehicle and renewable energy industry. The whole world now has its eyes on Manono to see how this adventure will develop in the years to come.