Manono lithium: towards renewal with a new board of directors
The shareholders of AVZ Minerals, an Australian company specializing in mining, will soon meet in a General Meeting to appoint three new directors. This initiative aims to regain the trust of the Congolese government and the partners of the Manono lithium project.
Relations between AVZ Minerals and government agencies in the Democratic Republic of Congo (DRC) are currently strained. Since the acquisition of 60% of the shares of DATHCOM MINING, a company responsible for exploiting a large lithium deposit located in Manono, in the province of Tanganyika, work has been at a standstill.
Indeed, despite the appointment of AVZ Minerals to manage DATHCOM MINING, the project has not progressed as planned. The exploration permit was not transformed into an exploitation permit, and conflicts arose between AVZ Minerals and the minority shareholders. These disagreements have even led to national and international lawsuits.
In order to give new impetus to the project, AVZ Minerals shareholders must choose conciliatory, experienced directors capable of negotiating with all parties involved. It is essential to respect the interests of the Congolese State represented by COMINIERE SA, the holder of the mining title, as well as those of the other partners.
AVZ Minerals has entered into negotiations with the Congolese government regarding an ongoing arbitration before the ICSID in New York. However, it is important to emphasize that the DRC is not a shareholder of DATHCOM MINING and that its interests are defended by COMINIERE SA.
In this new configuration, AVZ Minerals will also have to negotiate with DATHOMIR and JIN CHENG, two other partners having acquired shares in the project.
It is essential to favor the path of negotiation in order to resolve conflicts and quickly relaunch the project. By putting aside the interests of minority shareholders, AVZ Minerals could regain the trust of the Congolese government and all partners involved, for the benefit of all: the country, local populations and the shareholders of DATHCOM MINING and AVZ Minerals.
The appointment of new directors at the General Meeting represents a chance for renewal for the Manono lithium project. This will pave the way for fruitful collaboration and the realization of the full potential of this lithium deposit, essential for the economic development of the DRC.
With transparent management, respectful of the interests of all parties and focused on negotiation, AVZ Minerals could finally relaunch the Manono lithium project and contribute to the sustainable development of the Congolese mining sector.