AVZ to announce $US300m worth of Manono contracts

Aerial photo of Manono. Image: AVZ Minerals

AVZ Minerals is set to award $US300 million ($432 million) worth of tenders to develop its Manono lithium-tin project in the Democratic Republic of Congo.

These will be awarded once AVZ makes a final investment decision to mine the project.

The request for tenders includes process plants engineering, procurement and construction (EPC) package, Kabondo Dianda intermodal staging station, diesel storage facilities and site buildings.

“We will have final pricings on our various tenders back in July and August and then expect to be in apposition to award these contracts, pending COVID-19 travel restrictions being lifted and a financial investment decision being reached,” AVZ managing director Nigel Ferguson said.

AVZ has also obtained a preliminary membership with iTSCi (non profit ITRI tin supply chain initiative), which assists companies with due diligence and responsible sourcing of minerals from high risk areas.

The iTSCi program is focussed on tin, tantalum and tungsten and assisting upstream companies to have continued access to international markets.

Tin and tantalum are future by-products of lithium ore processing at the Manono project.

Ferguson said obtaining the preliminary membership was a significant milestone for AVZ as it was viewed favourably by international financiers.

AVZ plans to lodge its application for a full iTSCi membership by the end of this month.

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