AVZ a step closer to mining at Manono
PERTH (miningweekly.com) – ASX-listed AVZ Minerals on Wednesday flagged the imminent award of a mining licence over the Manono lithium and tin project, in the Democratic Republic of Congo (DRC).
The DRC Minister of Mines has signed a ministerial decree to award the mining licence to Dathcom Mining SA, in which AVZ holds a 75% interest. The mining licence will be issued after the payment of surface rights fees.
AVZ told shareholders that the ministerial decree excluded a portion of the landholding to the north, which will require renewal under a five-year exploration permit, but covered the entirety of the Roche Dure mineral resource and the Carriere de l’Este exploration target.
“The receipt of the ministerial decree to award the mining licence is leading to a watershed moment for AVZ and our partners, with the official award of the mining licence expected in a matter of days,” said MD Nigel Ferguson.
“This paves the way for AVZ to start developing what is arguably one of the most important new mining projects in the world that will significantly contribute to the global green energy transition, while also uplifting the lives of the Congolese people who will contribute and receive sustained benefits from the project for many decades to come.”
Ferguson said that the company is advancing early works programmes at Manono ahead of a final investment decision, and first spodumene concentrate production is targeted in late 2023.
A definitive feasibility study into Manono has estimated that it would produce around 700 000 t/y high grade lithium and 45 475 t/y of primary lithium sulphate over a 20-year mine life.
The project is expected to require a capital investment of $545.5-million, which will include transport upgrades and the rehabilitation of the Mpiana Mwanga hydroelectric power plant, which would account for $41.85-million and $46.54-million worth of investment, respectively.
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