Zijin to explore DRC lithium mine

Jinxiang Lithium (an overseas subsidiary of Zijin Mining Group) and Manono Lithium SAS is to explore and develop the northeast of the Manono Lithium Mine Project in the Democratic Republic of Congo (DRC).

Manono Lithium SAS and La Congolaise d’Exploitation Minière (COMINIERE) has reportedly obtained an exploration licence in the northeast of the Manono lithium exploration project from the Ministry of Mines in the Democratic Republic of the Congo (DRC).

The entire interest in the exploration licence of the Manono Lithium Mine was returned and registered under the name of COMINIERE.

Jinxiang Lithium holds 61% interest and COMINIERE holds the remaining 39% interest, according to Zijin.

COMINIERE formally invited Manono Lithium SAS to jointly explore and develop the northeast region.

It was also reportedly agreed that the joint venture will contribute US$70 million to support humanitarian relief efforts in the northeast and east part of the DRC.

The agreement reportedly stipulates that Jinxiang Lithium will lead the exploration, construction and operation of the project, and will be responsible for raising funds internally and externally for the joint venture.

Jinxiang Lithium stated it intends to complete the geological exploration and feasibility study as soon as possible and expects to finish construction of the project within two years after the feasibility study is completed and the financing arrangements confirmed.

An industrial park focusing on lithium smelting is also reportedly planned to be built simultaneously.