Suspended lithium explorer AVZ Minerals kept an ownership dispute over rights to 15 per cent of the Manono lithium project – which has access to a major resource of the vital battery metal – hidden from investors for nearly 10 months, new information shows.
The details of the dispute with Congo state-owned miner Cominiere and China’s Zijin Mining reveal AVZ actively sought to dissuade Cominiere from selling the 15 per cent stake to Zijin in a battle for control of what may be the world’s largest lithium deposit.
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Tom Richardson writes and comments on markets including equities, debt, crypto, software, banking, payments, and regulation. He worked in asset management at Bank of New York Mellon and is a member of the CFA Society of the UK as a holder of the Investment Management Certificate. Connect with Tom on Twitter. Email Tom at tom.richardson@afr.com
