Why the AVZ Minerals (ASX:AVZ) share price rocketed 27% higher

The AVZ Minerals Ltd (ASX: AVZ) share price has been a very strong performer on Thursday.

At one stage today the lithium-focused mineral exploration company’s shares were up as much as 27% to a 52-week high of 12.5 cents.

The AVZ Minerals share price has given back some of these gains but is still up 17% to 11.5 cents at the time of writing.

Why is the AVZ Minerals share price rocketing higher?

Investors have been buying the company’s shares today after the release of a very positive announcement.

According to the release, the company has secured a strategic, long-term offtake partner with GFL International Co. It is the subsidiary of China’s largest lithium compounds producer, Ganfeng Lithium.

The release explains that the…