US-based KoBold Metals has entered into a new mineral exploration agreement with the Democratic Republic of Congo, deepening its presence in one of the world’s most resource-rich nations.
- US-based KoBold Metals has reached a tentative agreement for new mineral exploration in the Democratic Republic of Congo.
- The deal includes rights to explore the Manono lithium project, a key site amid a legal dispute.
- This move aligns with US strategies to strengthen its mining ties in Africa, countering China’s mineral supply chain influence.
US-based KoBold Metals has entered into a new mineral exploration agreement with the Democratic Republic of Congo, deepening its presence in one of the world’s most resource-rich nations.
According to a statement from Congo’s presidency on Thursday, the company, backed by billionaire investors including Jeff Bezos and Bill Gates, has reached an “agreement in principle” to apply for exploration permits in the country.
The deal includes rights to explore the Manono lithium project, a major site in southeastern Congo currently at the centre of a legal dispute between the government and Australia’s AVZ Minerals Ltd, Bloomberg reported.
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The agreement was signed in Kinshasa by Congolese Mines Minister Kizito Pakabomba and KoBold’s local managing director, Benjamin Katabuka. KoBold has not yet issued a public comment.
Congo is a critical supplier of key minerals for the global energy transition. It is the world’s largest producer of cobalt, the second-largest source of copper, and holds vast reserves of lithium and tantalum, essential for electric vehicle batteries and clean energy technologies.
Countering China
The signing comes amid growing US efforts to strengthen strategic partnerships in Africa’s mining sector, aiming to counter China’s dominance in global mineral supply chains.
China currently dominates much of Congo’s mining landscape, a position bolstered by the exit of major US firms in recent years, most notably when Freeport-McMoRan sold its stake in the massive Tenke Fungurume copper and cobalt mine to China’s CMOC in 2016.
In response, the US administration is encouraging American investment in Congo’s critical minerals sector.
In a related development, a US-led consortium, including a company founded by former special forces personnel, is now the leading contender to acquire Chemaf Resources Ltd., a major copper and cobalt producer in Congo.
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A previous attempt by China’s state-owned Norinco Group to purchase Chemaf reportedly failed to secure Congolese government approval.
The KoBold deal was announced as part of broader US-Congo cooperation efforts, which also include American-backed peace talks aimed at ending the ongoing conflict in eastern Congo, where a rebel group supported by Rwanda has seized significant territory.
KoBold, known for its use of artificial intelligence to identify mineral deposits, also plans to support the digitisation of Congo’s geological data.
The agreement, signed under the oversight of President Félix Tshisekedi, is expected to pave the way for expanded US investment in the country’s vital mining sector.
