ZIJIN MINING ASSERTS ITS RIGHT TO DEVELOP MANONO LITHIUM MINE IN THE DRC

China’s Zijin Mining is determined to move forward with the contentious Manono Lithium mine in the Democratic Republic of Congo (DRC) after being granted permission to develop the deposit.

Originally owned by Australian AVZ Minerals, the mineral-rich site had its permit revoked by the DRC’s mines ministry due to slow development progress.

As a top gold and copper miner in China, Zijin has been actively acquiring lithium assets in South America and Africa to supply the electric vehicle battery industry.

Zijin’s subsidiary, Jinxiang Lithium, holds a 61% stake in Manono Lithium SAS, a joint venture with DRC’s state-owned Cominiere owning the rest.

This joint venture was granted rights over the northeast tenement of the Manono mine, a development that has sparked legal disputes with AVZ Minerals.

Zijin remains committed to the project, intending to collaborate with Cominiere, local stakeholders, and the DRC people. Despite pending legal challenges, Zijin is determined to see the northern tenement project through for the benefit of the DRC and its local communities.

AVZ Minerals, which owns the Manono project, is in constructive negotiations with the DRC government to resolve mining licensing and arbitration disputes with DRC-controlled entities.

Chinese companies and battery manufacturers are expanding their investments in Africa to increase production of copper, cobalt, and lithium, essential for the world’s green transition and the growing electric vehicle market.

The Manono deposit has the potential to become Zijin’s first lithium project in Africa and the DRC. With sufficient funds and technical support, the mine’s construction could commence within two years, promising significant development prospects.