The world’s largest battery electrolyte manufacturer has signed a memorandum of understanding (MoU) with Australian mining company, AVZ Minerals, to seek opportunities at its Manono lithium project.
With headquarters in Perth, AVZ’s operation is situated in southern Democratic Republic of Congo, and is powered by a mix of diesel generators and a recently commissioned solar power system in the nearby township.
Guangzhou Tinci Materials Technology, a Chinese based manufacturer of lithium-ion battery materials, supplies a substantial portion of the global electrolyte market, according to a AVZ statement.
In addition to existing ties with other lithium carbonate manufacturers, the company is discussing potential investment and off-take opportunities with AVZ, which has extended an invitation to Tinci, and other groups, to visit the Manono site.
“We are pleased to progress discussions with Tinci Group as they are a very well-regarded company globally and significant in the battery materials supply chain,” said AVZ executive chairman Klaus Eckhof.
“Our excellent drilling results released to date underpin the world-class status of Manono and highlights the unique opportunity that exists for the company relative to all other hard-rock deposits.
“AVZ continues an active dialogue with multiple Chinese groups seeking investment opportunities in the company and project. We expect to announce more interest over the coming weeks.”
AVZ has also announced that Patrick Flint has resigned as a non-executive director.