Join our daily newsletter At The Bell to receive exclusive market insights
- AVZ Minerals (AVZ) is touting its Manono Project in Central Africa as potentially having one of the lowest carbon footprints of any lithium mine across the globe
- The junior miner has completed a greenhouse gas (GHG) assessment at the mine, in which it tested Manono’s potential for outputting carbon dioxide, nitrous oxide, and methane
- The assessment found Manono could have a significantly lower carbon footprint than similar global lithium mines of the same kind
- The catalyst for this low carbon output is Manono’s proximity to the Mpiana Mwanga Hydro Electric Power Plant (HEPP) in the Democratic Republic of Congo
- AVZ said once the power plant has been refurbished, it will provide all of the electricity needed for the mine
- Shares in AVZ are up over 5 per cent this morning, trading at 20 cents each just before midday AEDT
AVZ Minerals (AVZ) is touting its Manono Project in Central Africa as potentially having one of the lowest carbon footprints of any lithium mine across the globe.
The junior miner told shareholders this morning it has completed a greenhouse gas (GHG) assessment for the life of the lithium and tin project.
The assessment, which evaluated Manono’s potential for outputting carbon dioxide (CO2), nitrous oxide (N20), and methane (CH4), found Manono could have an incredibly low level of carbon emissions compared to other similar types of mines.
The catalyst for the low carbon footprint is Manono’s proximity to the Mpiana Mwanga Hydro Electric Power Plant (HEPP) in the Democratic Republic of Congo. According to AVZ, once the power plant is refurbished, it is expected to provide all of the Manono Project’s electricity requirements.
AVZ Managing Director Nigel Ferguson said the company will keep striving to improve its greenhouse gas emissions profile as it develops Manono.
“Ultimately, we want to see the electricity generated from the Mpiana Mwanga Hydro Electric Power Plant used to operate all our mining equipment, making the Manono Project a 100 per cent ‘green’ mine,” Nigel said.
On top of this, Nigel said any surplus power could be provided into the national grid to help power the nearby namesake town of Manono.
“This will be a significant achievement for AVZ and everyone associated with the Manono Project, including our shareholders and our financiers,” he said.
Green plans for a green mine
While lithium itself is often praised as a way to reduce future carbon emissions due to its potential for use in electric vehicles and other environmentally-friendly technology, the production of lithium can have significant environmental impacts.
AVZ is working to mitigate this by planning other ways to lower its carbon footprint on top of powering Manono through the Mpiana Mwanga plant.
For example, the company highlighted plans to buy an electric mining fleet as soon as commercially viable equipment is available, to generate hydrogen from excess renewable electricity for use in Fuel Cell Electric Vehicles (FCEVs), and to build a 5000-hectare sequestration plantation.
The plan for this plantation is so convert CO2 from specific kilns into soda ash.
While are all just plans for the future, investors seemed impressed with today’s market update. At 11:41 am AEDT, shares in AVZ are up 5.26 per cent and trading at 20 cents each. The company has a $576.8 million market cap.
