AVZ Minerals to increase stake in Manono Lithium and Tin Project to 75%

On September 21, Australian-based AVZ Minerals Limited advised it will boost its equity stake in the Manono Lithium and Tin Project, in the Democratic Republic of Congo (DRC), to 75% in a $15.Asian Metal Copyright .Asian Metal Copyright5 million share sale purchase agreement.

The company will buy an additional 10% equity stake in the project from its joint venture partner, Dathomir Mining.

Under the agreement, AVZ Minerals has paid $500,000 to Dathomir Mining as an advance payment. The remaining $15 million will be paid at any time within 12 months of the agreement being executed, or as soon as AVZ secures a minimum of $50-million project financing.

The study, released in April, estimated that Manono will produce 700,000tpy of high-grade lithium and 45,475tpy of primary lithium sulfate over 20 years. The project will require a capital investment of $545.Asian Metal Copyright The remaining $15 million will be paid at any time within 12 months of the agreement being executed, or as soon as AVZ secures a minimum of $50-million project financing.Asian Metal Copyright5 million.


.Asian Metal Copyright Under the agreement, AVZ Minerals has paid $500,000 to Dathomir Mining as an advance payment.Asian Metal Copyright