FinCEN Files: Investigation into Dirty Money Transfers from Major Global Banks

At least $ 2 trillion in suspicious transactions were carried out between 2000 and 2017 by several major global banks. This is what an investigation by the International Consortium of Investigative Journalists, made up of 400 journalists from the media in 88 countries, including the investigation units of Radio France and the newspaper Le Monde, reveals.
For their investigation, ICIJ journalists were able to obtain "suspicious activity reports". These are top-secret documents that US bank internal compliance officials send to US financial intelligence agencies when they detect questionable money transfers.

According to these documents, 2,000 billion dollars in suspicious transactions may have been carried out. It is dirty money linked to drugs, corruption, organized crime and terrorism.

Large banks are singled out like JP Morgan, Deutsche Bank, Bank of New York Mellon or HSBC. They ensure, however, that they make significant efforts to combat financial crime an…

DRC: AVZ Minerals publishes a solid definitive feasibility study for its Manono lithium project

In the DRC, the mining company AVZ Minerals released the results of the final feasibility study (DFS) on Tuesday for its Manono lithium and tin project. According to the study, the project could produce 700,000 tonnes of spodumene concentrate (SC6) and 45,375 tonnes of primary lithium sulfates annually over a 20-year lifespan.
 
DRC: AVZ Minerals publishes a solid definitive feasibility study for its Manono lithium project

It will take an investment of $ 545.5 million to develop the project, which includes, apart from the mine and the processing plant, the modernization of road infrastructure for transporting production and the rehabilitation of the Mpiana hydroelectric plant. Mwanga. The recovery period for this capital is estimated at 1.5 years (before tax) and 2.25 years (after tax).

The project is also expected to generate annual EBITDA of $ 380 million over the life of the mine with an internal rate of return of 33% and an estimated net present value of $ 1.03 billion (after tax). It should be noted that these various figures are drawn up on the scenario of a 100% participation in the project, while the company currently holds only 60% of interests which it can bring to 65%.




As a reminder, Manono is the largest hard rock lithium deposit in the world with an ore reserve of 44.6 million tonnes in the “proven” category and 48.5 million in the “probable” category. The project is also expected to produce small quantities of tin and tantalum.