News Articles for AVZ Minerals

ASX-listed aspiring central Africa lithium developer AVZ Minerals has poured $40 million into its coffers via a “heavily oversubscribed” capital raise, paving the way for the company to increase its ownership stake in its flagship Manono lithium and tin project in the DRC to 75 per cent. Funds from the share placement will also help advance early project capital works.

Aspiring producer AVZ Minerals has lifted its stake in the Manono lithium and tin project after securing $40 million from investors.

AVZ Minerals has locked in a long-term lease over an industrial site earmarked as an integral logistics hub for the transfer of concentrate for export from its proposed Manono hard-rock lithium project in the DRC. The company says the Kabondo Dianda “intermodal staging station”, where the Manono concentrate will be trucked, forms part of its logistics plan to export finished products to global markets.

AVZ Minerals has extended the massive mineral resource for the cornerstone Roche Dure deposit at its proposed Manono hard-rock lithium and tin project in the Democratic Republic of the Congo. The deposit now has an estimated overall resource of 401 million tonnes at average grades of 1.65 per cent lithium oxide, 752ppm tin and 34ppm tantalum for 6.64 million tonnes of contained lithium oxide.

AVZ Minerals says a maiden placer tin exploration target of up to 75 million cubic metres of contained cassiterite grading between 75 and 180 grams per cubic metre at its Manono project in the Democratic Republic of Congo underlines the potential for a standalone tin mine at one of the world's largest emerging hard-rock lithium projects.

ASX-listed central Africa lithium hopeful, AVZ Minerals has lodged the all-important mining licence application for its proposed Manono hard-rock lithium and tin project development in the Democratic Republic of the Congo. The Perth-based company says the DRC Government now has all the required documentation to support its application.

AVZ Minerals continues to make giant strides towards its goal of becoming a significant lithium producer in central Africa, this week securing approval for a draft “Cooperation Agreement” with the newly installed government in the Democratic Republic of the Congo. The accord opens the door for the establishment of a Special Economic Zone to assist in bringing the world class Manono project into production.

AVZ Minerals hopes to have a key precursor to the planned development of its Manono hard-rock lithium and tin mining and processing operation in the Democratic Republic of the Congo ratified by the end of May. The new DRC Government will shortly consider applying a proposed tax and fiscal incentive arrangement called the “Manono Special Economic Zone” to the project following AVZ's presentation to a government delegation last month.

Our board moves wrap includes Jan de Jager, Ben Cohen, Tara French, Nathan McMahon, Rod Sherwood, Ivan Gustavino, Dano Chan, Peter Evans, Anthony Ho, Richard Siemens, David White, Michael Wilson, Richard O'Brien, Raymond Lau, Wayne Knight, Jay Upton, Li Chen, Steven Apedaile, Simon Vertullo, Jason Titman, Howard Digby, and Josephine Bush.

Aspiring Central African lithium developer, AVZ Minerals' resource drill out has reeled off a further batch of stunning broad pegmatite drill hits from beneath the Roche Dure open-pit floor at its Manono hard-rock lithium and tin project in the Democratic Republic of the Congo. The company says it has now kicked off an update of the existing mineral resource estimate for the massive Roche Dure deposit.

ASX-listed aspiring central African lithium developer, AVZ Minerals continues to attract offtake partners at its proposed Manono hard-rock lithium and tin project in the Democratic Republic of the Congo. The Perth-based company has entered into a binding lithium offtake agreement for the sale of spodumene concentrate from Manono to another Chinese group, Yibin Tianyi Lithium Industry Co.

AVZ Minerals has locked in yet another offtake partner relating to its proposed Manono hard-rock lithium and tin project in the Democratic Republic of the Congo. The Perth-based company says it has struck a binding three-year offtake contract for the sale of 600 tonnes of tin concentrate per annum from the Manono project to Kalon Resources, a wholly owned subsidiary of Hong Kong-headquartered Noble Group Holdings.

ASX-listed AVZ Minerals has nailed down a second offtake contract with a major Chinese lithium outfit – its second in less than three months. The aspiring central African lithium developer has struck a binding agreement with new offtake partner, Shenzhen Chengxin Lithium Group for the supply of spodumene concentrate from AVZ's mammoth Manono lithium-tin project in the Democratic Republic of the Congo.

AVZ Minerals continues to kick goals at its Manono lithium project in Africa with recent drilling to facilitate ground-water monitoring returning wide intercepts of high-grade lithium mineralisation, extending the known ore envelope an additional 90 metres beyond the current pit design. New drill intercepts include a stunning 98.0m grading 1.79 per cent lithium oxide and 1,174 parts per million tin from only 2m down-hole.

Central African lithium hopeful, AVZ Minerals has taken a significant step towards the ultimate development of its massive Manono lithium and tin project in the Democratic Republic of the Congo, this week awarding a front-end engineering and design study contract to Melbourne-based engineering firm Mincore. AVZ says the study will also contain a project execution schedule for the proposed US$545 million development of Manono.

AVZ Minerals' resource drill out continues to impress with broad drill intersections of pegmatite discovered in the Roche Dure pit floor at the company's massive Manono lithium and tin project in the DRC. AVZ says the project will spit out an incredible US$400 million a year in average EBITDA when fully developed. The most notable new intersection came in at 173m grading 1.63 per cent lithium oxide.

AVZ Minerals is set to expand its lithium resource at its Manono project in the DRC with drilling below the current pit floor delivering an incredible 279.2 metre intercept grading 1.45 per cent lithium oxide from only 24.06m down-hole. With lithium companies currently enjoying a resurgence, AVZ continues to show that it may well have the biggest and best undeveloped lithium deposit in the world today.

AVZ Minerals has received a ringing endorsement of its green credentials, with an independent study of the company's developing Manono lithium operation in Africa suggesting the aspiring producer may boast one of the lowest carbon footprints of any hard rock lithium mine in the world. The company's proposed minimisation and offset program may result in close to zero greenhouse gas emissions.

AVZ Minerals has taken another decisive step towards production, with the company's metallurgical test work successfully generating a high-purity lithium sulphate product for potential use in the production of lithium-ion batteries. The current testing program forms a key part of the development program over its Manono lithium-tin project in the central Africa, which is also assessing the viability of downstream processing at the evolving operation.

AVZ Minerals will end 2020 on a high-note after locking in a 5-year offtake deal with China's largest lithium compound producer, Ganfeng Lithium. The coup will see Ganfeng purchase up to 160,000 tonnes of spodumene concentrate per annum from AVZ's world-class Manono lithium-tin project in the Democratic Republic of the Congo. The deal sees AVZ clear yet another hurdle on its development pathway as Manono edges ever closer to production.

ASX-listed equatorial Africa lithium hopeful, AVZ Minerals, has finally made solid headway in its efforts to set up a Special Economic Zone agreement inside the Democratic Republic of the Congo. If ratified, the agreement would enshrine significant tax concessions to the company in relation to its 75 per cent owned Manono lithium and tin project in the DRC.

AVZ Minerals is drilling below the Roche Dure pit floor at its giant Manono lithium and tin project in the Democratic Republic of Congo hoping to upgrade a portion of the pegmatite ore to an indicated from inferred mineral resource category, where previous drilling had defined more than 400Mt of potential ore at a startling grade of 1.65 per cent lithium oxide.

ASX-listed lithium developer, AVZ Minerals, has agreed to buy out its junior partner's 10 per cent stake in the massive Manono lithium and tin project in the Democratic Republic of the Congo for $15.5 million. AVZ will now move to 75 per cent ownership of the project and it is currently advancing discussions with potential debt providers and offtake partners for the proposed US$545 million project development.

ASX-listed lithium hopeful, AVZ Minerals, says it is knee-deep in negotiations with potential offtake partners and debt financing providers to breathe life into the staged, US$545 million development of its Manono open-pit lithium and tin project in the Democratic Republic of the Congo that boasts one of the largest hard-rock lithium deposits on the planet.

In a sign that it is nearing the pointy end of development, AVZ Minerals has tested the market by calling for pre-mining tender submissions at its massive Manono lithium project in the Democratic Republic of Congo. The tenders are for infrastructure estimated to be worth USD$300m at Manono that boasts a gigantic 400 million tonne resource grading 1.65 per cent Li2O.

ASX-listed AVZ Minerals has shifted gear into the planning and execution phase of its giant lithium and tin project in the Democratic Republic of Congo that is expected to spit out some $600m a year in EBITDA. AVZ's technical team is now putting effort into seeking tenders from companies identified in the DFS for various work packages required for the construction phase.

Our board moves wrap includes Andrew Caruso, Max Wang, HongLiang Chen, Mike Grey, and Paul Ferrara.

Tougher restrictions for securing foreign investment is the latest hurdle for miners seeking to develop projects.

The Australian Government Foreign Investment Review Board's rejections of Chinese investments into ASX-listed mining and exploration companies is confounding and building a looming dark cloud over a sector that often lives or dies on the back of Chinese investment. Northern Minerals lost $20m Chinese investment is a good case in point after FIRB, who looks to be captured by anti-Chinese sentiment right now, rejected that application.

Chinese lithium giant Yibin Tianyi will take up a 9 per cent stake in AVZ Minerals by ploughing AUD$10.6M into a 4.5c a share placement. AVZ has also entered into an underwriting agreement to exercise listed options, potentially raising another AUD$5.3M after it tabled a stellar DFS on its giant Manono lithium project in the DRC.

AVZ Minerals will receive a $10.5 million investment from China-based Yibin Tianyi to progress its flagship lithium project in Central Africa, while also receiving commitments to raise $5.3 million.

With an estimated A$600m a year in annual EBITDA, the economics at AVZ Minerals' giant Manono lithium project in the DRC don't need much turbo-charging, but that is exactly what the Perth-based, ASX-listed company is planning to do after it managed to produce separate, very high grade tin and tantalum concentrates in test work using traditional low cost processing equipment.

AVZ Minerals has delivered a dazzling DFS for its Manono lithium-tin project in the Democratic Republic of Congo that dwarfs pretty much every lithium project in WA. A DFS tabled this week on the project shows the project pumping out a stunning AUD$600m a year in EBITDA for at least the next 20 years based on today's USD conversion. The company is now in advanced discussions with international debt providers.

As AVZ Minerals approaches the home straight of its definitive feasibility study, the lithium developer has revealed that the first phase of its heavy metals test work has yielded potentially saleable tin and tantalum concentrates from its Manono lithium project in the DRC. AVZ recovered a total of 63% tin at a grade of 64.1% cassiterite, using the company's existing lithium metallurgical flow sheet.

Perth-listed lithium developer, AVZ Minerals, has achieved an impressive average of 69% fine lithia recoveries from stage two metallurgical flotation test work at its giant Manono lithium and tin project in the Democratic Republic of Congo. Elsewhere at the nearby Carriere de l'Este deposit, AVZ conducted initial test work and found randomly sampled high grade sections from diamond core that produced a 2.37% lithium oxide sample.

AVZ Minerals is moving to lock in a binding offtake agreement with Yibin Tianyi after the Chinese lithium chemical player tipped an initial $1m into AVZ whilst the Foreign Investment Review Board runs the ruler over Yibin Tianyi's intention to plough over $14m into AVZ. Tibin Tianyi is a star-studded Chinese partnership that involves some of the biggest industrial names in China.

AVZ Minerals is on the home stretch of its mammoth DFS, which is due to hit the market next month, with phase two metallurgical test work delivering another exceptional batch of results that reinforce the potential economic viability of its Manono lithium and tin project in the Democratic Republic of Congo. A bulk 2,000 kilogram sample yielded a 160-kilogram concentrate grading 6.1% lithium oxide at over 60% lithia recovery.

AVZ Minerals has executed a binding memorandum of understanding with the Congolese Government to create a “special economic zone” for the Manono Lithium and tin project in the Tanganyika Province of the Democratic Republic of Congo. A special economic zone has the potential to deliver significant economic stimulus to both AVZ and the local communities around Manono, with tax breaks high on the list.

The market doesn't have long to wait now to find out exactly how much hard cash can be churned out of the world's largest undeveloped lithium mine as AVZ Minerals says it is 95% through its definitive feasibility study for the giant Manono lithium-tin project in the Democratic Republic of Congo. AVZ is now teetering right on the edge of making that difficult leap from explorer to miner.

AVZ Minerals is on track to deliver its definitive feasibility study in the coming months, with phase two metallurgical test work delivering an exceptional batch of results that reinforce the scalability of its giant Manono lithium and tin project in the DRC. AVZ said that it had produced a lithium concentrate grading 6.3% during testwork, easily surpassing the generally accepted threshold of 5%.