AVZ Minerals Limited welcomes the recent memorandum of understanding signed on 25 April 2025 brokered by the United States (US) Government, between the Governments of the Democratic Republic of the Congo (DRC) and Rwanda. This development is a significant step towards regional stability and reinforces the growing international recognition of the importance of the sustainable development of critical minerals projects to promote the prosperity of the DRC and its people.
AVZ believes these efforts also demonstrate the US Government’s recognition of the important role that the Manono Lithium and Tin Project (Manono Project), in which AVZ holds a significant interest, can play in advancing the DRC’s interests in the global lithium value chain and provide more balanced critical minerals supply chains.
AVZ is supportive of future investment of US interests in the Manono Project and on 6 May 2025 agreed a non-binding framework with Kobold Metals Company to purchase AVZ’s interest in the Manono Project and supports the discussions between the Governments of the DRC and US to provide a safer, stronger and more prosperous Great Lakes Region.
AVZ is conscious of the broader geopolitical challenges in achieving a resolution in relation to the Manono Project, however it appreciates the opportunity that has emerged to explore a resolution of the current issues relating to the Manono Project, which it will continue to pursue in a constructive and open manner in the best interests of its shareholders and other key stakeholders, including Suzhou CATH Energy Technologies. AVZ is aware of social media commentary about the Manono Project that is critical of the DRC Government and some of its officials.
AVZ appreciates that its shareholders are frustrated with the disruption in relation to the development of the Manono Project and the impact it has had on their investment. However, any disrespectful commentary is not supported or condoned by AVZ.
