ASX-listed AVZ Minerals announced today March 7 that it has signed a Memorandum of Understanding (MoU) with the Chinese Guangzhou Tinci Materials Technology for a potential investment in its Manono lithium project in DR Congo. In return, Tinci, renowned as the world’s largest battery electrolyte manufacturer, could supply itself with the mine’s output.

This MoU is subsequent to the meetings and talks engaged in China with a number of entities for potential investment and off-take opportunities. In this vein, AVZ invited Tinci, along with several other groups to visit Manono project in the country to further the talks and better appreciate the enormous potential of this project.

Let’s recall that AVZ Minerals, led by Klaus Eckhof, holds 60% of the project, which covers 188 km² in southern DRC.