maybe october?
nah surely before drc battery council on the 20th, so dare I say 11 days?
AVZ Discussion 2022
- Thread starter GazDix
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nah surely before drc battery council on the 20th, so dare I say 11 days?
Bin59
Regular
A similar article (not locked)
Tantalex secures Glencore's backing for Congo lithium project
Tantalex Lithium , a Canadian junior miner that is aiming to produce lithium from the Democratic Republic of Congo (DRC), said on Friday its tailings project has secured the backing of Glencore .
Tantalex secures Glencore's backing for Congo lithium project
September 9, 20237:29 AM GMT+10Updated 28 min ago
An employee of a private security company stands in front of the logo of commodities trader Glencore during the company's annual shareholder meeting in Cham, Switzerland May 24, 2017. Acquire Licensing Rights Read more
NAIROBI/ TORONTO, Sept 8 (Reuters) - Tantalex Lithium (TTX.CD), a Canadian junior miner that is aiming to produce lithium from the Democratic Republic of Congo (DRC), said on Friday its tailings project has secured the backing of Glencore (GLEN.L).
The Swiss miner and trader will pay a staggered $5 million to Tantalex as part of the marketing off-take agreement and has agreed to finance a third of the capital requirements for the DRC project, if it meets its conditions, Tantalex said in a statement.
Glencore has agreed a term-sheet to market the spodumene concentrate - or high-purity lithium ore - that will be produced at the Tantalex's Manono tailings project in the Congo.
Tailings dams, which can tower dozens of meters high and stretch for several kilometres, are a common waste-disposal method for miners.
Some of the dumps at Manono tailings, deposited several years ago, reach maximum heights of 70 metres (230 ft), Tantalex said on its website.
The deal is subject to Glencore conducting due diligence and its backing of Manono helps to de-risk the project, Tantalex CEO Eric Allard said.
Glencore, which mines copper and cobalt in the DRC started to trade lithium around a year ago, even though it has said it has no interest in owning lithium assets outright.
Allard said Glencore's expertise in the country "will be crucial for developing further our activities in the DRC."
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Globally, mining companies and manufacturers are scrambling to secure supplies for lithium, which is key to boosting growth in battery electric vehicles as the world seeks faster alternatives to clean energy.
"The capital expenditure financing commitment is a significant milestone in the de-risking of the project and achieving our goal to become the first lithium producer in the DRC," Allard said.
Reporting by Felix Njini and Divya Rajagopal; Additional reporting by Clara Denina Editing by Marguerita Choy
Jen’s deleted. That a good or bad sign ffs?
oxxa23
Regular
What was Jens saying?
This tweet sounds positive that Zijin are out…
Retrobyte
Hates a beer
0.2% piles of dirt. Why bother?
MoneyBags1348
Top 20
Dave Evans contacted the Advisory Board Members and Ministries as well as media representatives of the DRC- AFRICA Battery Metals event urging them to support AVZ’s position.
I don’t know if it makes any difference but I see today the Battery Metals Forum page has been updated again with AVZ Minerals standing out as the top, and only Cobalt Plus sponsor of the event.
Every time Cong, Kabemba, Jerkoff, Huljich, boatman, tommy tb and the other corrupt arseholes try to lie and manipulate investors, let’s give them a foot up the arse
I don’t know if it makes any difference but I see today the Battery Metals Forum page has been updated again with AVZ Minerals standing out as the top, and only Cobalt Plus sponsor of the event.
Every time Cong, Kabemba, Jerkoff, Huljich, boatman, tommy tb and the other corrupt arseholes try to lie and manipulate investors, let’s give them a foot up the arse
Last edited:
Penskefile
Regular
A pre-requisite in the DRC in factGlencore still have to do due diligence on TTX before proceeding. You’d hope it’s thorough enough to pick up the fact their CEO is up for bribe and forgery charges. Red flag in any other country. Probably a minor issue in the DRC.
Hemicuda
Regular
sniffing the greater Manono area perhaps
There is still the underlying issue regarding the license for the tailings. According to Grahame Johnston any license for tailings and mining that sits on top of another mining tenement can only be issued to the main tenement holder, being AVZ, according to DRC mining law.Glencore still have to do due diligence on TTX before proceeding. You’d hope it’s thorough enough to pick up the fact their CEO is up for bribe and forgery charges. Red flag in any other country. Probably a minor issue in the DRC.
The license that was issued to Tantalex is not valid.
Xerof
Flaming 1967
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