Avz Minerals Limited
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Who Owns AVZ Minerals' Manono Project?
The Manono Project, nestled in the heart of the Democratic Republic of Congo (DRC), is a treasure trove of lithium and tin resources. In this comprehensive article, we will uncover the ownership structure of this remarkable project, delving into the major players and provide insights into the geological wonders that lie beneath its surface.
Ownership of the Manono Project
The Manono Project is primarily owned by Dathcom Mining, a company deeply involved in the development of lithium and tin resources. However, the ownership structure is intriguing. AVZ Minerals, through its wholly-owned subsidiary AVZ International (AVZI), holds an impressive 75% stake in Dathcom Mining. This strategic position grants AVZ Minerals a substantial role in the project's development and operations. The remaining 25% stake in Dathcom Mining is retained by La Congolaise D’Exploitation Miniere (Cominiere), a state-owned enterprise, making them a vital partner in this endeavor.
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AVZ Minerals solidified its control over the Manono Project through a strategic move, securing rights to increase its equity stake. The company signed a share sale purchase agreement with Dathomir Mining Resources SARLU, a joint venture partner of Dathcom Mining. This agreement paved the way for AVZ Minerals to acquire an additional 10% stake in Dathcom Mining, further strengthening its foothold in the Manono Project.
Manono Project: Geological Marvel
Situated 500 kilometers north of Lubumbashi in the DRC, the Manono Project boasts a promising open-pit mine with an estimated production capacity of 440,000 tonnes per annum (tpa) of lithium concentrate. This concentrate is expected to contain a minimum of 5. 8% Li2O over a projected mine life of 20 years. What sets this project apart is its geological richness.
The project area is host to lithium pegmatites, stretching over an astounding strike length of more than 13 kilometers. These pegmatites have become a focal point of exploration due to their mineralization potential.
Historic Activities and Resource Estimates
The Manono Project has a storied past, with mining activities dating back to 1919. During this period, the project witnessed the processing of approximately 100 million cubic meters of ore. This extensive endeavor resulted in the production of 185,000 tonnes of cassiterite concentrate, primarily sourced from eluvial and weathered pegmatite. The average recovery from these operations was an impressive 1,330g/m3 of tin concentrate.
In recent years, exploration efforts have focused on unearthing the untapped potential of the Manono Project. Geological mapping, trenching, and a due diligence drilling program conducted in 2017 have yielded remarkable results. Significant intersections have been observed in key pegmatites, including the Roche Dure Pegmatite, Mpete Pegmatite, Tempete Pegmatite, and Carriere de l’Este Pegmatite.
Unveiling the Geological Potential
The Manono Project has showcased immense geological potential, with lithium mineralization confirmed to extend along strike for over 13 kilometers. Two significant areas of pegmatite mineralization, known as the Manono sector and the Kitotolo sector, have been identified. These sectors host a multitude of pegmatites, including six large ones.
What sets these pegmatites apart is their rich spodumene mineralization. The majority of these pegmatites contain spodumene, along with other lithium minerals. Notably, two of the largest pegmatites, the Carriere de l’Este Pegmatite and the Roche Dure Pegmatite, rival the famous Greenbushes Pegmatite in Western Australia in terms of size.
To validate these findings, AVZ Minerals conducted an initial phase of due diligence drilling in 2017. This endeavor comprised seven diamond drill holes totaling 1,739 meters and tested four of the large pegmatites. The results were remarkable, with thick pegmatite intervals and the presence of spodumene in all tested pegmatites.
A World-Class Mineral Resource
The Roche Dure Pegmatite, one of the jewels of the Manono Project, boasts a Mineral Resource of 400 million tonnes grading 1. 65% Li2O, along with significant tin and tantalum resources. This resource is complemented by JORC compliant tin and tantalum resources, further solidifying the project's world-class status.
The ownership structure of the Manono Project, led by AVZ Minerals' 75% stake, positions it as a significant player in the lithium and tin mining landscape. The geological wonders beneath the project's surface, characterized by vast lithium pegmatites and world-class mineral resources, make it a focal point of interest in the mining industry. As further exploration and development efforts unfold, the Manono Project's potential to contribute significantly to the global lithium supply becomes increasingly apparent, marking
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