Suzhou CATH Energy Technologies has paid $20m to Australia’s AVZ Minerals under a financing agreement signed in January 2025, providing liquidity as AVZ pursues legal action to regain control of the Manono lithium project in the Democratic Republic of Congo, which has been halted since 2022.
The payment is conditional and grants CATH commercial rights if AVZ secures a favourable legal outcome. Under the agreement, CATH would receive exclusive rights to purchase 100% of Manono’s lithium production for five years, or until repayment of the advances, and an option to acquire an indirect 30.5% stake in the project at a later stage.
Manono, one of the world’s largest hard-rock lithium deposits, has become the subject of competing claims since Congolese state miner Cominière terminated its joint venture with AVZ and partnered in 2023 with China’s Zijin Mining. Zijin has indicated a target production date of 2026, though detailed project milestones have not been publicly disclosed. 
The ownership dispute has widened as other parties seek positions in the asset. US-based KoBold Metals signed a framework agreement with AVZ in May 2025 to compensate the Australian company for a potential withdrawal, followed by a separate agreement with the Congolese government, the terms of which have not been made public.
AVZ’s position has been further complicated by regulatory action in Australia. In November 2025, the Australian Securities and Investments Commission initiated proceedings against the company for alleged failures in investor disclosure, a development that has implications for its access to capital markets.
The Congolese government remains a central actor, amid efforts to attract diversified foreign investment into strategic minerals, including through cooperation agreements with the United States. However, unresolved international litigation surrounding Manono continues to constrain financing options and delay the project’s development.
