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AVZ signs deal to explore investment, off-take for Manono lithium project

AVZ Minerals Ltd. signed a memorandum of understanding with Guangzhou Tinci Materials Technology Co. Ltd. to explore potential investment and off-take opportunities involving the former's Manono lithium project in the Democratic Republic of the Congo.

The company invited the China-based battery electrolyte manufacturer to visit its operations in the DRC for formal discussions to reach a transaction and to properly assess the project's potential, according to a March 7 news release.

AVZ Minerals is continuing discussion with multiple Chinese groups seeking investment opportunities in the company and its project, said Executive Chairman Klaus Eckho.

Additionally, AVZ Minerals noted that Patrick Flint resigned as a nonexecutive director.