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AVZ Minerals lodges Manono Mining Licence application with DRC Government

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AVZ Minerals Limited (ASX:AVZ) (OTCMKTS:AZZVF) (FRA:3A2) has passed a key milestone along the path to production at Manono Lithium and Tin Project with a Mining Licence application lodged with the DRC Government.

All of the required documentation to support AVZ’s application for the Permis d’Exploitation (Mining Licence) has been lodged by AVZ’s majority-owned DRC company Dathcom Mining SA and accepted for consideration by the Cadastre Minier (CAMI) in Kinshasa.

This documentation and formal application will now be assessed by the DRC Government prior to approval of the granting of the Mining Licence for the Manono Project as soon as practicably possible.

“Significant milestone”

AVZ’s managing director Nigel Ferguson said: “Lodging our formal application for a Mining Licence for the Manono Project is yet another significant milestone for the company.

“It marks the culmination of our highly strategic and well-executed exploration program and is another signal that the company is rapidly advancing towards the construction phase of our mining project and, ultimately, moving into production.

“We expect granting of the Mining Licence for the Manono Project to be expedited by the DRC Government so that we can maintain our construction schedule to deliver the first SC6 on train by Q1 2023.”

Other documentation

Definitive feasibility study (DFS) and Environmental and Social Impact Assessment (ESIA) documentation has also been lodged with the CAMI.

Feedback on the ESIA is expected soon and discussions with CAMI on formalities are progressing well.

Ferguson said the Mining Licence would also allow the company to quickly progress the Manono Project to a ‘bankable’ study level, set as a condition precedent and as required by prospective financiers of the project.

“The optimised DFS being completed will provide an updated financial projection on the Manono Project incorporating the results of the optimised mine redesign which is currently underway, the FEED study which is progressing smoothly under the guidance of Mincore Pty Ltd and conditions relating to the Special Economic Zone for Manono (MSEZ) which is progressing well.”

Story by ProactiveInvestors



Source: http://www.proactiveinvestors.com/companies/news/949563/avz-minerals-lodges-manono-mining-licence-application-with-drc-government-949563.html


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