On 10 March 2025, the arbitration tribunal of the International Chamber of Commerce (ICC) ordered Cominière (a Congolese state-owned company) to pay a penalty of 39.1 million euros (42.46 million US dollars). The penalty, explains the CCI, follows Cominière’s failure to comply with previous orders requiring the Congolese company to put an end to the termination of its joint venture with AVZ.
The Australian company AVZ originally held the development licence for the Manono project. This is one of the largest hard rock lithium deposits in the world. The licence was revoked in 2023 by the DRC Ministry of Mines on the grounds that the company had not developed the project quickly enough.
The rights were then granted to a unit of Chinese company Zijin Mining, prompting AVZ to seek redress from the ICC.
Unclear and possible consequences
AVZ, whose shares were suspended in May 2022 and delisted two years later due to the dispute, said on Friday it would consider taking steps to recover the penalty.
The Australian company also said it was in discussions with several US-based parties to raise funds for the Manono project.
Consequently, pending a final settlement, this ICC decision could have an impact on the timetable announced by Zijin Mining, which is targeting the start of lithium production at Manono in 2026. So far, the legal proceedings have not prevented Cominière and its joint venture partner from making progress on this project, which could enable the DRC to join the ranks of African lithium producers.M&B with Agence Ecofin and Mining.com
