One of the largest state-owned mining companies in China made a secret bid to seize control of a major African lithium deposit from ASX-listed AVZ Minerals months before officials in the Democratic Republic of Congo stripped the Australian group of its licence.
Correspondence from Zijin Mining to a DRC state-run firm known as Cominiere sent on October 21 shows the Chinese company requested it be assigned the northern-eastern part of the Manono project, which AVZ claims a significant ownership interest in.
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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
