JOHANNESBURG (miningweekly.com) – ASX-listed AVZ Minerals has signed a memorandum of understanding (MoU) with Guangzhou Tinci Materials Technology for potential investment in the company and offtake opportunities from the Manono lithium project, in southern Democratic Republic of Congo (DRC).
Tinci is the largest battery electrolyte manufacturer globally and supplies a substantial portion of the global battery electrolyte market.
AVZ has executed the MoU with Tinci to advance discussions towards formalising potential investment and offtake agreements. As part of this process, the company has extended an invitation to Tinci, and other groups, to visit its operations in the DRC for more formal discussions and to help facilitate a proper appreciation of the potential of the Manono lithium project.
“We are pleased to progress discussions with Tinci group as they are a very well-regarded company globally and significant in the battery materials supply chain. Our excellent drilling results released to date underpin the status of Manono and highlight the unique opportunity that exists for the company relative to all other hardrock deposits,” AVZ chairperson Klaus Eckhof commented on Wednesday.
AVZ said it would continue an active dialogue with multiple Chinese groups seeking investment opportunities in the company and project. “We expect to announce more interest over the coming weeks.”