@KiengeKki If the DRC people don't believe the Belgium's maybe they'll believe the ICSID court once AVZ Minerals wins there case of corruption and theft.
Time for $AVZ holders to saturate X with all the corrupt posts you have on fatshit and his cronies!
US has turned on him and now the more pressure and exposure we put on that fat pig.....the better!
DRC ambush is a midterm nightmare for trump.
HE NEEDS A WIN! and AVZ is it!
"From now on, any proven misconduct—whether by a government member or an official—will result in exemplary disciplinary measures in accordance with established procedures"... Say what? ... It’s just words...
https://t.co/SL1GtypZsO
plus the approximate amount of 10 billion... AVZ International Pty Ltd., Dathcom Mining SA, and Green Lithium Holdings Pte Ltd. v. Democratic Republic of the Congo (ICSID Case No. ARB/23/20)
Paris Court of Appeals usually upholds 90%+ ICC Orders & remands a small portion (<5-10%) for further specifics.
When $AVZ has WON 14 out of 15 ICC decisions, Appeals Court ALREADY knows it's would-be Order & denied AVZ (attached) to save time, cost
Actually, a victory for AVZ
$AVZ Minerals Limited (AVZ or Company) provides the following update to its shareholders.
Interim Arbitration Funding
AVZ has entered into a Funding Agreement with Mr Pei Zhenhua to advance up to US$ 5 million to AVZ, with the first tranche of US$ 2 million already received.
The funds are subject to agreed security arrangements and may be used for the purpose of costs incurred in prosecuting the arbitration proceedings before the International Centre for Settlement of Investment Disputes in Washington (ICSID) and the International Chamber of Commerce (ICC) Tribunals.
Settlement Discussions
AVZ's preferred outcome continues to be a negotiated resolution of the arbitration proceedings which involves the divestment of AVZ's interest in the Manono Project.
Any settlement must deliver a reasonable return to AVZ's shareholders and engagement with the various stakeholders is continuing but discussions are protracted due to the geopolitical complexity of the situation.
If a settlement cannot be achieved, AVZ, CATH, Mr Pei and DLA Piper are aligned in their commitment to prosecute the arbitration proceedings to their conclusion.
There have been no developments in the proceedings which have a material impact on AVZ's prospects of success in the proceedings, including by reason of the suspensions. The current status of the proceedings is summarised below.
Title Dispute (ICSID)
It will be recalled that AVZ, through its subsidiaries AVZ International Pty Ltd (AVZI) and Green Lithium Holdings Pte Ltd (GLH), together with Dathcom Mining SA (Dathcom), previously commenced arbitration proceedings (ICSID Case No. ARB/23/20) against the Government of the Democratic Republic of Congo (DRC) before ICSID in relation to the DRC’s failure to procure the grant of an exploitation permit (PE) to Dathcom in respect of the land the subject of PR 13359.
AVZ previously obtained a suspension of the ICSID proceedings to facilitate settlement discussions and reduce expenditure.
The suspension has been lifted and the arbitration proceedings are now progressing with the DRC pursuing an amended application for security for costs whilst AVZ is pursuing a new application for provisional measures to preserve the status quo.
The Tribunal and the Parties have not yet finalised a new procedural timetable for the merits.
Dathcom JV Dispute (ICC)
It will be recalled that AVZ, through its subsidiary AVZI, is party to two arbitration proceedings before the ICC, one was brought against La Congolaise d’Exploitation Minière (Cominière), and one which was brought against AVZ by Cominière, Jin Cheng Mining Company (Jin Cheng), a subsidiary of Zijin Mining Limited (Zijin), in relation to alleged breaches of the shareholders’ obligations under the Dathcom joint venture agreement dated 27 January 2017 as amended (Dathcom JVA), and the purported termination of the Dathcom JVA by Cominière which resulted in the transfer of PR 13359 to Cominière and the application to wind-up Dathcom by Dathomir Mining Resources SARLU (Dathomir).
AVZ previously obtained a suspension of the ICC case in which it is the claimant, to facilitate settlement discussions and reduce expenditure. The ICC Tribunal has now lifted the suspension and the arbitration proceedings are progressing. Cominière is pursuing an amended application for security for costs.
The parties submissions on the merits will follow between October 2026 and April 2027, with a hearing scheduled to be held on 24-28 May 2027.
Dathomir Dispute (ICC)
It will be recalled that AVZ, through its subsidiary AVZI, previously commenced two ICC arbitration proceedings against Dathomir in relation to Dathomir’s attempts to challenge the sale to AVZI of its 15% shareholding in Dathcom.
It will also be recalled that AVZ was successful in the first ICC proceedings which confirmed that upon exercise of the option, AVZI acquired 10% of the shares in Dathcom pursuant to the 2020 share purchase agreement.
The second ICC proceedings in respect of ./
@patientmbuyi Zijin continue de travailler sur des biens volés illégalement appartenant à AVZ Minerals !
https://t.co/a6NgF4QIMp
https://t.co/7s9vSjSjeI
https://t.co/YY8q74iaw9
@MinMinesRDC@LouisWKabamba How much of that $6billion fell into the pockets of Govt Ministers to enable Zijin to illegally steal Manono north from $AVZ? ICSID will reveal those details in the coming months. $AVZ is fully funded and will seek justice until served.
@AusEmbZim DYK‼️That for 5 years yourself and the Australian govt have turned a blind eye to the theft by corrupt entities in the DRC govt of $AVZ ‘s rightful Manono’s Li interests?? But hey, it’s not like you guys want to do any real work or truly serve Australian SH interests.