KoBold Inks Congo Exploration Deal to Grow US Mineral Access
iconJul 18, 2025 17:30
Source:SMM
U.S. mining company KoBold Metals has signed a preliminary mineral exploration agreement with the Democratic Republic of Congo (DRC), aiming to strengthen the U.S. supply of critical minerals such as cobalt, copper, and lithium. The deal, signed in the capital Kinshasa by President Félix Tshisekedi, marks a strategic move by the U.S. to reduce China’s dominance in the global critical minerals supply chain. Backed by investors including Bill Gates and Jeff Bezos, KoBold plans to deploy its AI-powered exploration technology to launch a lithium project in the southeastern town of Manono, in Tanganyika Province, and assist in digitizing the country’s geological data. The company also intends to hire local workers and invest in community infrastructure. This collaboration builds on KoBold’s earlier $1 billion framework agreement to acquire part of the Manono lithium deposit from Australia’s AVZ Minerals. However, the project’s progress remains subject to resolving ongoing legal disputes and obtaining necessary permits.
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