The Australian Financial Review questioned the miner that neared a $4.6b valuation in 2022 over a January 28 ministerial decree related to its Manono mining license.
Suspended lithium explorer AVZ Minerals faces a potential hammer blow after the Democratic Republic of Congo’s mining minister ordered the revocation of an April 2022 decree that granted AVZ’s operating partner, Dathcom, a mining license for its Manono lithium project.
The decree, in French, states persistent conflicts between joint venture shareholders that include AVZ, Cominiere, and Dathomir are likely to paralyse the lithium operations at a time of urgency.On Monday morning, AVZ announced to the market that it is now in receipt of additional ministerial decrees dated January 28 concerning the Manono mining license.
The January 28 order states the Secretary General of Mines and Director General of the Mining Cadastre are responsible for the execution of the order that revokes the operating permit for Dathcom under mining license 13359. , and accordingly engaged in conduct that was misleading or deceptive, or likely to mislead or deceive, or was false or misleading.
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