Title: “The Manono mining project in the DRC: a new joint venture and persistent challenges”
Introduction :
The Manono mining project in the Democratic Republic of Congo (DRC) continues to attract attention with the announcement of a new joint venture between a Chinese company and Cominiere. However, despite this progress, the project still faces many challenges. In this article, we will explore recent developments at the Manono project, the formation of the joint venture and the ongoing issues surrounding this strategic mining venture.
The partnership with a Chinese company:
On October 25, a Chinese company revealed that it had formed a joint venture with Cominiere to develop the northeastern part of the Manono mining project. This partnership raises great hopes for the relaunch of this project which had been at a standstill for six years. However, Cominiere, who claims that AVZ hijacked the Manono project, is now more cautious in her actions.
The Manono mining project division:
Cominiere has divided the Manono mining project into two parts: the northern concession PR15775 developed in partnership with the Chinese mining giant Zijin, and the new PR13359 to the south. The northern concession is a “greenfield” project whose exact resources are not yet known, but Cominiere requires that the Chinese partner commit to completing exploration and construction within two years. For the new PR13359, Cominiere has not yet announced a new partner, leaving the door open to other investors interested in this lithium project.
The difficulties encountered by AVZ:
AVZ, the former holder of PR13359, finds itself in a difficult position following recent developments. Some of its shareholders expressed their dissatisfaction with the current management of the company and formed the “Make Manono Great Again” organization. Additionally, AVZ initiated arbitration proceedings against the Congolese government, which resulted in a deterioration of relations between the two parties. However, AVZ indicated that it is engaged in positive negotiations with the government and hopes to find common ground.
Prospects for the future:
The current situation remains complex and uncertain for the Manono mining project. Tensions between Cominiere and AVZ as well as ongoing arbitration procedures highlight the challenges facing this mining company. However, the proven reserves of 400 million tonnes of lithium ore in the concession continue to be a valuable asset. If AVZ can resolve the differences and reestablish its partnership with the Congolese government, it may have the opportunity to bring the Manono project back to life.
Conclusion :
The Manono mining project in the DRC faces new developments with the formation of a joint venture and the division of the project between Cominiere and a Chinese partner. However, challenges persist with tensions between project stakeholders and ongoing arbitration procedures. The future of this strategic project will depend on AVZ’s ability to overcome these obstacles and find common ground with the Congolese government. The Manono project therefore remains to be closely monitored by players in the mining industry and investors interested in the potential of lithium in the DRC.