AVZ Minerals' has inked a deal with the DRC Government to probe a potential refurbishment of a hydro-electric power station near its giant Manono lithium project. The old power station has been mothballed for years but potentially presents as a future power source for AVZ's rapidly advancing lithium project that boasts possibly the largest undeveloped lithium resource in the world today.
Africa-focused lithium developer, AVZ Minerals appears on track to deliver its definitive feasibility study in the first few months of 2020 at its massive Manono lithium and tin project in the Democratic Republic of the Congo. Phase two metallurgical test work continues to deliver encouraging results in support of the ongoing DFS. Testing previously generated a spodumene concentrate that exceeds 6% lithium oxide and the company says that phase two met results are lining up well.
Emerging global lithium player, AVZ Minerals, has recruited the services of African mining veteran, Dr John Clarke, as it prepares to take its massive Manono lithium project in the Democratic Republic of Congo to the next level. Dr Clarke, a former Ashanti Goldfields executive, will become AVZ's non-executive chairman at the end of the year, bringing to the table a vast wealth of experience from across the Continent.
AVZ Minerals' quest to develop the giant Manono lithium project in the DRC has been given a major shot in the arm after it received $14.1 million from Chinese lithium chemical producer, Yibin Tianyi. The strategic investment, which could lead to an offtake agreement, will allow AVZ to increase its stake in the project and start early development works as it completes Manono's definitive feasibility study.
AVZ Minerals has commenced environmental and social impact studies at its Manono lithium project, located in the Democratic Republic of the Congo, appointing in-country organisation, EmiAfrica, to conduct the work. The studies will form the bases of its later ESIA documentation for permitting the project. The company also met with stakeholders and dignitaries in the region affected by the future mining proposal for Manono.
Our weekly appointments wrap includes Michael Hughes, Craig Lennard, Tim Searle, Jade Macukatt, Alex Gregg, Gemma Cooper, Alex Ward-Noonan, Steve Blyth, Dean Lavers, Robert Wilton, Colin La Galia, and Martine Keenan.
AVZ Minerals has met with officials from the Tanzanian Govt, regarding infrastructure and transport options for proposed future shipments of its Manono lithium project ores through the Port of Dar es Salaam. The company also revealed this week that it had appointed mining veteran, Michael Hughes, as its new Project Director, to steer the future development of the Manono operation in the DRC.
AVZ Minerals has concluded Phase 1 met test work for its amazing Manono lithium-tin project in Africa, which continues to deliver encouraging ore grades and metal recoveries in line with other global lithium projects. The company said it had now moved onto the Phase 2 confirmatory programs and is close to appointing an experienced Non-Executive Chairman to guide Manono's ongoing development.
AVZ Minerals has completed its Phase 1 metallurgical test work program for the Manono lithium-tin project in Africa, which continued to deliver strongly encouraging results in line with other global lithium-mineralised pegmatite ores and supports its ongoing DFS. Testing has generated a spodumene concentrate that exceeds 6% lithium oxide and the company will now scale-up the work to a pilot-scale size.
AVZ Minerals has improved on initial metallurgical test work at its giant Manono project in Africa with the production of a lithium concentrate grading 6.6% with recoveries of 70.4% from ores crushed to a finer size than in previous tests. The company has also updated President Tshisekedi Tshilombo from the Democratic Republic of Congo and senior government officials on the progress being made at the project.
AVZ Minerals' metallurgical test work programs for its Manono lithium-tin project in the DRC, have delivered encouraging results in line with other global lithium-mineralised pegmatite ores and support its ongoing DFS. Testing has generated similar rock characteristics and strengths to other spodumene-bearing ore deposits and heavy liquid separation produced a high-grade concentrate at 6.2% lithium oxide, with a 66% concentrate recovery.
AVZ Minerals has appointed well-credentialled, Perth-based, GR Engineering Services to oversee delivery of the definitive feasibility study for its Manono lithium and tin project in the Democratic Republic of the Congo, by the June quarter of 2020. On-site, DFS work programs are continuing on schedule with metallurgical test work well underway and dewatering programs for the historical Roche Dure open pit having commenced.
AVZ Minerals will control 65% of the Manono lithium-tin project in the south-eastern region of the DRC after paying USD$5.5m to private company Dathomir Mining Resources SARL for an additional 5% stake in the tier-1 deposit. The monies are payable to Dathomir within three years and the agreement will generate an additional NPV of USD$130m for the company based on recent scoping study results.
AVZ Minerals has formed a strategic relationship with Chinese cobalt manufacturer Zhejiang Huayou Cobalt to advance the DFS for its giant Manono lithium-tin project in the Democratic Republic of the Congo. Besides lending AVZ its experience in the DRC and mainland China, Huayou will also prove the company with advice and assistance in other areas such as project financing and offtake financing.
AVZ Minerals has initiated a DFS for its Manono lithium project in the DRC after a scoping study outlined that a 5Mtpa operation could generate a whopping pre-tax NPV of USD$2.63b at an IRR of 64%. Manono boasts one of the world's greatest lithium resources at 400 million tonnes grading 1.65% lithium oxide and 715ppm tin, most likely placing it in the top three lithium deposits around the globe.
AVZ Minerals is seeking to raise up to $10 million via a share purchase plan, primarily to advance its Manono lithium and tin project in the Democratic Republic of Congo.
Two local mining companies have been forced to provide clarifications to the ASX this morning, with Flinders Mines responding to a presentation given by BBI Group, while lithium-focused AVZ Minerals told investors to ignore a Twitter post from one of its strategic advisers.
Klaus Eckhof has resigned as executive chairman of AVZ Minerals. Mr Eckhof is a geologist and has worked in delineating gold within the mining industry.
AVZ Minerals has announced the resignation of executive chairman Klaus Eckhof, weeks after he sold off half his stake for $4.4 million, while also signing up Perth-based CPC Engineering to complete a scoping study for its Manono lithium project in the Democratic Republic of Congo.
Lithium explorer AVZ Minerals has signed a memorandum of understanding with a major Chinese battery producer for potential investment and offtake opportunities.
African Energy Resources has announced that current managing director Frazer Tabeart will become an executive director of investor relations and business development, and Bill Fry becomes executive
Six local resources companies have announced capital raisings of around $26 million for projects including in lithium and rare earths, with one of the businesses, Okapi Resources, planning to join the ASX bourse.
Africa-focused lithium explorer AVZ Minerals has attracted a Chinese miner for the bulk of a $15 million capital raising, which has been priced to take advantage of a recent doubling in its share price.
Junior explorer AVZ Minerals has become subject to Supreme Court action after a Mauritius-based private resources investment firm claimed ownership of a lithium deposit in the Democratic Republic of Congo, which AVZ said last month it would be acquiring a major stake in.
Shares in junior explorer AVZ Minerals have skyrocketed on news the Perth company has struck an agreement to acquire a majority stake in a lithium mine in Africa, and has raised $5 million to fund the deal.
AVZ Minerals, formerly Avonlea Minerals, has appointed Klaus Eckhof as managing director and Patrick Flint as chairman, following the resignations of Roger Steinepreis and David Riekie.
West Perth-based mineral explorer Avonlea Minerals Ltd has closed at 17.5 cents in its debut on the Australian Securities Exchange, 12 per cent down on its offer price.
West Perth-based mineral explorer Avonlea Minerals Ltd has opened its intial public offer, aiming to raise $2.5 million for exploration of its Queensland gold and base metals projects.
