AVZ Minerals (ASX:AVZ) - Managing Director, Nigel Ferguson
Managing Director, Nigel Ferguson
Source: Swiss Resource Capital
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • AVZ Minerals (AVZ) has received a positive technical opinion from the Department of Mines for its Manono lithium project in the Democratic Republic of Congo
  • This means the project is a step closer to being awarded a mining licence
  • Manono has now received favourable outcomes on all four of the points required for receiving the licence
  • Shares in AVZ were up 5.83 per cent today, trading at $1.09

AVZ Minerals (AVZ) is a step closer to being awarded a mining licence for its flagship Manono lithium and tin project, after receiving a positive technical opinion from the Department of Mines in the Democratic Republic of Congo.

This is the final of four key elements Manono needs to satisfy in order to be granted the mining licence after achieving environmental approval, proof of financial capability and favourable cadastral opinion.

AVZ says it received “favourable outcomes” on all of these points, paving the way for an imminent decision on award of a mining licence.

“The receipt of the favourable technical opinion for the DFS is the final procedural hurdle ahead of the Minister of Mines’ pending decision on the award of the mining licence which we now eagerly await,” said AVZ’s Managing Director, Nigel Ferguson.

“This will also be the catalyst to advance the Collaboration Development Agreement which will underpin the partnership between the Government and the developers of the Manono project.”

According to the company, the Manono project contains one of the largest and highest-grade undeveloped hardrock lithium resources in the world.

AVZ shares have jumped 5.83 per cent today, trading at $1.09 at 11:29am AEST.

AVZ by the numbers
More From The Market Herald
Countplus (ASX:CUP) - Incoming CEO, Hugh Humphrey

" Hugh Humphrey appointed CEO of Countplus (ASX:CUP)

Investment services company CountPlus (ASX:CUP) has appointed Hugh Humphrey as the company's CEO, effective July 1.

" ASX employee tests positive for Covid-19

The ASX says an employee has contracted Covid-19.

" ASIC launches official investigation into ASX market outage

The ASX has confirmed today it is officially under investigation from the Australian Securities and Investments…

" ASX sheds more light on last week’s market tech failure

The Australian Securities Exchange has shed some more light on the nature of last week's market…