AVZ Minerals Ltd (ASX:AVZ) has received a positive technical opinion from the Department of Mines, indicating it could be close to a favourable decision on the award of the mining licence for its flagship Manono Lithium and Tin Project.
To receive the award AVZ must satisfy four key elements:
- Environmental approval;
- Proof of financial capability;
- Favourable cadastral opinion; and
- Favourable technical opinion.
The Manono Project has received favourable outcomes on all four points, paving the way for an imminent decision on the mining licence's award.
AVZ managing director Nigel Ferguson said of the decision: “The receipt of the favourable technical opinion for the definitive feasibility study (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.
“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.”
About AVZ
AVZ is focused on developing its 75% owned Manono Lithium and Tin Project in the south of the Democratic Republic of Congo (DRC) in central Africa.
The Manono Project is one of the world’s largest lithium-rich lithium, caesium and tantalum (LCT) pegmatite deposits.
The Manono pegmatites extend for a strike length of at least 13 kilometres and are more than 240 metres thick in places. The project covers the historic Manono Mine, a pegmatite deposit mined for its tin content from 1919 to 1982.
AVZ also holds a 100% interest in the Manono Extension Project which surrounds the Manono Project.