KoBold Metals, the US-based explorer backed by billionaires including Jeff Bezos and Bill Gates, has secured seven new permits to search for lithium and other critical minerals in the Democratic Republic of Congo (DRC).
The licenses were granted just weeks after the Berkeley, California–based company signed an exploration pact with the Congolese government, part of a broader push to attract American investment into the country’s mining sector.
Congo is the world’s largest producer of cobalt, the second-largest source of copper, and hosts vast reserves of lithium and tantalum.
Focus on Manono
The newly awarded permits are located in southeastern Congo near the Manono lithium project, which KoBold has ambitions to develop into a major mine. The rights allow the company to prospect for lithium, manganese, tin, and tantalum in the region.
KoBold has notified authorities in Kinshasa that it will first need to resolve a dispute with Australia’s AVZ Minerals Ltd., which has challenged Congo’s termination of its rights to Manono. AVZ has launched arbitration proceedings and is seeking an acceptable settlement or buyout.
KoBold’s shareholders also include BHP Group, Andreesen Horowitz, and Equinor ASA.
The company’s push into Congo comes as Washington works to reduce reliance on China for key minerals needed for clean energy and electric vehicles.
KoBold says it plans to deploy its AI-driven exploration technology in Manono, funding digital geological mapping, hiring local staff, and supporting infrastructure improvements in host communities.
(With files from Bloomberg)
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KoBold Metals, the US-based explorer backed by billionaires including Jeff Bezos and Bill Gates, has secured seven new permits to search for lithium and other critical minerals in the Democratic Republic of Congo (DRC).
The licenses were granted just weeks after the Berkeley, California–based company signed an exploration pact with the Congolese government, part of a broader push to attract American investment into the country’s mining sector.
Congo is the world’s largest producer of cobalt, the second-largest source of copper, and hosts vast reserves of lithium and tantalum.
Focus on Manono
The newly awarded permits are located in southeastern Congo near the Manono lithium project, which KoBold has ambitions to develop into a major mine. The rights allow the company to prospect for lithium, manganese, tin, and tantalum in the region.
KoBold has notified authorities in Kinshasa that it will first need to resolve a dispute with Australia’s AVZ Minerals Ltd., which has challenged Congo’s termination of its rights to Manono. AVZ has launched arbitration proceedings and is seeking an acceptable settlement or buyout.
KoBold’s shareholders also include BHP Group, Andreesen Horowitz, and Equinor ASA.
The company’s push into Congo comes as Washington works to reduce reliance on China for key minerals needed for clean energy and electric vehicles.
KoBold says it plans to deploy its AI-driven exploration technology in Manono, funding digital geological mapping, hiring local staff, and supporting infrastructure improvements in host communities.
(With files from Bloomberg)