The battle over the Manono lithium project

Battle

The battle over the Manono project one of the largest undeveloped hard rock lithium deposits in the world has entered a new phase as the AVZ Minerals Limited’s biggest shareholder announced that it will support the ouster of the Australian miner’s board. After acquiring seven years ago the rights to the deposit AVZ Minerals Limited has been locked in the lawsuit and arbitration against the Congolese government and its partners.

Make Manono Great Again X-profile, informed that Zhejiang Huayou Cobalt Co.,Ltd will also back the attempt to ouster the board of directors at the Annular General meeting on 23.11.2023.

Election

After the annular general meeting, the AVZ Minerals Limited has announced: the re-election of Graeme Johnston, and John Clarke and the election of Dr Casta Tungaraza, MAICD, Serge Ngandu, Salome Thaddaus Sijaona to the AVZ Board Directors. The company has informed about high shareholder participation (ca. of 70% of the share register by number of shares voted). Moreover, the company considers this as a strong vote of confidence of both the Board and the Board strategy to develop Manono Lithium and the Tin Project.

Managing Director Nigel Ferguson has stated: On behalf of the board and management of AVZ Minerals, thank you to our shareholders for your overwhelming vote to return the current board, and thank you for your endorsement of our strategy. Moreover, he has indicated that the Board will work hard to develop Manono Project: “We are working hard with authorities in the Democratic Republic of Dongo and with stakeholders from around the world to advance the Manono Project and to secure diverse critical minerals supply chains for the benefit of our stakeholders and most important for the people of The DRC”.

Manono Project

The Manono Project comprises PR13359, which covers 188 km2 in the south of the Democratic Republic of Congo (DRC) in central Africa.

The presence of lithium mineralization in pegmatites at Manono has been confirmed to extend along the strike for more than 13km.

Two large areas of pegmatite have been identified, with the northeast area, referred to as the Manono sector, and the southwest area, referred to as the Kitotolo sector. Mapping within the two sectors has established that there are many pegmatites, representing separate intrusions, including six large pegmatites.

Figure. 1. Manono Project Overview. Source: AVZ official homepage