AVZ Minerals Ltd (ASX:AVZ) is in a trading halt ahead of an announcement in relation to the acquisition of further equity interest in the Manono Lithium and Tin Project in southern Democratic Republic of Congo.
The trading halt will remain in place until the beginning of ASX trade on Monday, September 21, or when an announcement is released to the market, whichever occurs earliest.
Lithium and tin offtake negotiations
AVZ is in the advance stage of discussions with potential offtake partners for significant volumes of spodumene concentrate, lithium and tin.
The company was also recently accepted as a member of European Battery Alliance, an organisation launched by the European Commission to support the development and growth of the European battery industry.
Its strategy is to ensure a diverse customer base has been further underpinned by the addition of lithium to the European Union’s critical raw materials list.
AVZ’s negotiations relating to financing options for developing the project with several entities in Europe, the Middle East and South Africa are progressing well.
The company’s data room has been made available to several entities for some months to allow due diligence on the Manono project to be completed.