Speculation has emerged that billionaire-backed US explorer KoBold Metals wants to develop the Manono lithium asset in Democratic Republic of Congo owned by the previously ASX-listed AVZ Minerals.
Newswire Bloomberg has reported that KoBold contacted DRC authorities by letter in January with its proposal.
The leaking of the news to Bloomberg may have occurred to try to put pressure on authorities.
The letter apparently calls for AVZ to receive "appropriate compensation".
AVZ managing director Nigel Ferguson wouldn't be drawn on the matter when contacted by Mining Journal's sister publication MNN.
"No comment," responded Ferguson.
KoBold is reportedly backed by the likes of Bill Gates, Jeff Bezos and Andrew Forrest.
It states its mission as "finding the materials of the future with AI and HI".
It has three "global executives" and 34 "director and team leads", one of which is the company's "Chief Philosopher".
AVZ has been in dispute with various actors over the ownership of the asset for much of this decade.
It was delisted from the ASX nearly one year ago.
Earlier this month, it reported an International Criminal Court tribunal had awarded it circa $67 million with respect to some of the proceedings the company had initiated to try to confirm its ownership of the project.
In announcing the award, AVZ also said it had spoken to third parties about the project.
"AVZ recently travelled to the US with a view to raising funds to support its endeavours to secure and develop the Manono Lithium Project including via a long-term commitment in respect to its share of the mineral offtake," the company said.
"During that visit, AVZ met with various parties who expressed interest in the Manono lithium project.
"These discussions were of a fact finding and preliminary nature and remain at an early stage."
It would seem extremely likely KoBold was involved.
Meanwhile, DRC authorities were recently quoted as saying they would like to explore the idea of providing critical minerals to the US in exchange for the US providing security in the war-torn country.
While the lithium price is at levels that are putting huge pressure on non-brine lithium producers, Manono is one of the best-looking hard rock lithium deposits in the world, second probably only to Greenbushes.
In January 2024, AVZ reported Manono's resources at Roche Dure and Carriere de l'Este totalled 842 million tonnes grading 1.61% Li2O, 709ppm tin and 37ppm tantalum, containing 13.52Mt of lithium oxide.
