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ASX-listed AVZ Minerals advises that Zhejiang Huayou Cobalt has purchased additional shares on market to increase its shareholding in AVZ to 9.49%.

Huayou Cobalt Group is one of the world’s largest manufacturers of cobalt chemicals for use in batteries and has extensive in-country experience with a number of established mining operations in the Democratic Republic of Congo.

AVZ MD, Nigel Ferguson says:

“We welcome Huayou Cobalt Group’s continued support in the Manono Lithium and Tin Project.

“This illustrates the world-class quality and potential of the Manono Lithium and Tin Project. We look forward to working with Huayou Cobalt Group during this exciting time to bring the Manono Project into production.”