![]() MNM: Did Cominière ever receive a “no door” payment or any money from AVZ Minerals Ltd?Ĭabinet Momentum: AVZ confirms that it has the evidence that will be made available demonstrating and proving that Cominière had indeed received payment for the “keystep” and that the reason why this State Portfolio company will continue to do so to deny is that the amounts obtained by way of the payments were never given to the Public Treasury. ![]() MNM: Did AVZ not have the financial capacity to carry out this Manono project? Did the CAMI and the Direction des Mines not check AVZ’s financial capacity and ignore Cominière’s complaints?Ĭabinet Momentum: Education in the Mining Code and practices in the mining industry lets everyone know that proof of financial capacity is one of the substantial conditions for being issued a Research Permit (PR) in the Democratic Republic of the Congo and this necessarily goes through the Banks. The Certificate of Financial Capacity exists and had been established in the rules of the art contrary to what is said in several political salons and a non-specialized press. This agreement also involved a payment of USD 6 Million of No Door and the financing of the Joint-Venture company until the presentation of the DFS. So, AVZ had found the Dathcom company and the JV and only joined it through the “Binding Term Sheet”. MNM: Did the start of the agreements between Dathomir and Cominière date from 2017? Was it AVZ who had created Dathomir and proceeded to draft the Joint-Venture contract according to the declarations of the Cominière company to certain activists from civil society and the media?Ĭabinet Momentum: AVZ says this is an erroneous allegation about the agreement period. It was on Septemthat Dathomir and Cominière signed the “Preliminary Agreement” and that according to the “Initial Exploration JVA” signed on October 17, 2016, Cominière had 70% and Dathomir had 30% of the Joint Venture. At that time, Dathomir had already been created without the presence of AVZ Minerals and the JV already existed before its entry.ĪVZ entered by buying 60% of Dathomir’s shares in “Binding Ter, Sheet” giving AVZ 60%, Dathomir remaining with 10% and Cominiere 30%. The matter is now scheduled to go to the International Court of Arbitration in May 2023.ĪVZ further said on Thursday it didn’t disclose a December 2021 DRC court ruling related to Dathomir’s 15 per cent ownership rights, as it also considered the ruling “spurious” with no foundation in fact or law.In an interview conducted by the editorial staff of MNM with the law firm Momentum, the authorities of AVZ gave answers to understand the reasons for the agitation and gluttonous appetite around Manono’s lithium since the validation of the ‘Final feasibility study made by AVZ Minerals. Zijin says it acquired the 15 per cent stake from Cominiere for $US33.4 million in November 2021 and has sound legal title.ĪVZ did not disclose the Zijin dispute until May 2022. In a statement on Thursday, AVZ conceded it sought to dissuade Cominiere from selling the 15 per cent stake to Zijin “around July/August 2021” and said it never disclosed the matter as it considered the claim “spurious in nature, without merit, containing fundamental and material errors, and as having no substance in fact or law”. ![]() It also told Cominiere it was still interested in buying the 15 per cent stake. On Monday, The Australian Financial Review revealed that DRC state-backed mining body Cominiere wrote from Lubumbashi to AVZ on July, 21, 2021 to inform it that Zijin Mining sought to buy a 15 per cent stake in Manono.ĪVZ’s Kinshasa-based lawyer wrote to Cominiere on August 4, 2021, to object to the proposed Zijin deal and remind Cominiere of its obligations.
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