AVZ starts trading in North America

14th January 2022 By: Esmarie Iannucci - Creamer Media Senior Deputy Editor: Australasia

PERTH (miningweekly.com) – Lithium developer AVZ Minerals has started share trading on the OTCQX under the ticker symbol AZZVF.

“The company has long recognised the opportunities provided by the North American capital markets and with a burgeoning interest in the global lithium sector, the company’s majority-owned Manono lithium and tin project is generating significant investor interest,” said AVZ MD Nigel Ferguson.

“We believe AVZ’s admission to the OTCQX Best Market will benefit all of our shareholders, enhancing the visibility and accessibility of the company to US investors, allowing the company to efficiently grow its North American shareholder base.”

AVZ Minerals will continue to have its primary listing on the ASX.

The company’s Manono project, in the Democratic Republic of Congo, is expected to produce around 700 000 t/y high-grade lithium and 45 475 t/y of primary lithium sulphate over a 20-year mine life.

The project is expected to require a capital investment of $545.5-million, which will include transport upgrades and the rehabilitation of the Mpiana Mwanga hydroelectric power plant, which will account for $41.85-million and $46.54-million worth of investment, respectively.