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Manono lithium mine - Violations of the JV contract by AVZ: COMINIERE has the right to recover the mining rights which are the subject of its contribution (tribune)
According to AVZ's announcement on the Australian Stock Exchange (ASX), AVZ submitted the final feasibility study of Dathcom to the Department of Mines in April 2021 and received the positive opinion from the Department of Mines.
The final feasibility study submitted by AVZ, which includes Dathcom's monopoly management rights, is a serious breach of the Joint Venture contract. Articles 6.2 and 6.4 of the Joint Venture contract clearly stipulate the submission deadline and the approval procedure for the pre-feasibility study and the feasibility study. Unfortunately, AVZ, responsible for writing the feasibility study, not only suffered a serious delay in the writing time, but moreover, it did not submit it to COMINIERE for examination in accordance with the Joint-Contract. Venture, nor obtained the authorization of the board of directors and the assembly of shareholders of Dathcom.
Consequently,
As a reminder, the exploration permit number PR 13359 expired in December 2021. The National Ministry of Mines has not granted an exploitation permit (PE). Dathcom is therefore operating without a license and any operation is illegal.
Notes: Articles 6.2 and 6.4 of the JV contract state that:
1. Article 6.2: Transmission of the Preliminary Feasibility Study
The Preliminary Feasibility Study must be submitted by DATHCOM Mining SAS to COMINIERE SA for examination within thirty-six (36) months following the date of the first deadline. At the end of a meeting which must be held between the parties at least one (1) month before the expiry of the aforementioned thirty-six (36) month period, the Parties may decide to extend this period Up to twelve ( 12) additional months (the "Preliminary Feasibility Period". In the event that the Preliminary Feasibility Study is not submitted to COMINIERE SA within the preliminary feasibility period, COMINIERE SA shall be entitled to terminate this Contract
2. Article 6.4: Communication of the Feasibility Study
The Feasibility Study must be submitted by DATHCOM Mlning SAS to COMINIERE SA for review, within sixty (60) months following the date of the first due date. At the end of a meeting which must be held between the parties at least one (1) month before the expiry of the sixty (60) month period mentioned above, the parties may decide to extend this period up to twelve (12 ) additional months (the “Feasibility Period”).
Christian Kakule
Mine de lithium de Manono - Violations du contrat de JV par AVZ : la COMINIERE a le droit de récupérer les droits miniers qui font l’objet de son apport (tribune)
Selon l'annonce de AVZ à la bourse australienne (ASX), AVZ a soumis l'étude de faisabilité finale de Dathcom au ministère des Mines en avril 2021 et a reçu l'avis favorable du ministère des Mines.
