KoBold signs Congo deal to boost US mineral supply

[Ben Graham]

The Democratic Republic of Congo has struck a preliminary mineral exploration agreement with US‑based Kobold Metals, deepening American involvement in its critical‑minerals sector.

The deal opens the door to US investment in cobalt, copper and lithium projects.

Kobold Metals, backed by investors including Bill Gates and Jeff Bezos, agreed “in principle” to apply for exploration permits and digitize Congo’s geological data, according to a presidential announcement.

The deal signed in Kinshasa with President Félix Tshisekedi present marks a strategic push for US access to cobalt, copper and lithium. It aligns with a broader US‑Congo initiative aimed at reducing China’s dominance in critical minerals.

Kobold plans to deploy its AI‑powered exploration tools and begin a lithium project in Manono, Tanganyika Province.

The company will fund digital geological mapping, hire local staff, and support infrastructure investments in host communities.

The agreement complements earlier progress, including a $1 billion framework for Kobold to acquire AVZ’s stake in Manono’s lithium deposit – a move supported by the US government and aimed at countering Chinese influence. However, the final outcome remains contingent on resolving ongoing legal disputes and securing necessary permits.

(With files from Bloomberg)