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Chinese Firms Vie for Control of Huge DRC Lithium Project – SCMP

Chinese entities may retain major involvement or even end up controlling the huge Manono lithium project proposed by Australia’s AVZ Minerals once the legal fight over ownership ends, a report says


A legal tussle is playing out for control of the giant Manono lithium deposit, seen here, in the southeast of the Democratic Republic of the Congo in central Africa.
A legal tussle is playing out for control of the giant Manono lithium deposit, seen here, in the southeast of the Democratic Republic of the Congo in central Africa. Photo: AVZ Minerals.

 

The battle for control of the huge Manono lithium deposit in central Africa, possibly the world’s biggest, has been portrayed as a fight between China’s Zijin Mining and Australia’s AVZ Minerals, however Suzhou Cath Energy Technologies – owned by China’s battery giant CATL and Pei Zhenhua – has a 24% stake in AVZ, while Zhejiang Huayou Cobalt also has a holding, which suggests that Chinese entities will retain major involvement or could even end up controlling the project once the complex legal fight over ownership ends, a report by the South China Morning Post on Sunday says.

AVZ announced four years it had found about 400 million tonnes of lithium at Manono in the southeast of the Democratic Republic of Congo, but development has been held up by Zijin’s claim of a 15% stake in Dathcom Mining, the joint venture that owns the site set up by AVZ and Cominiere, the DRC’s state mining company, and a separate row over another 15% stake, it said.

Read the full report: SCMP.

 

ALSO SEE:

 

China Battery Makers Gain Global Share as Lithium Soars: Credit Suisse

 

Chinese Companies Ramp Up Investment in Lithium Batteries

 

EV Sales Surge Sends Lithium Index to Record High: FT

 

 

Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years and has a family in Bangkok.

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