KoBold Metals to Acquire 17,000 Mining Concessions in DRC Lithium Push
Backed by Gates and Bezos, KoBold Metals Targets DRC Lithium in $1B Exploration Deal
KoBold Metals, a U.S.-based mining company backed by billionaires Bill Gates and Jeff Bezos, is preparing to acquire nearly 17,000 mining concessions in the Democratic Republic of Congo (DRC) as part of an ambitious large-scale exploration program.
The company uses advanced artificial intelligence and data-driven technology to identify deposits of critical minerals used in electric vehicle (EV) batteries.
On July 17, 2025, KoBold signed an agreement in principle with the Congolese government in a ceremony attended by President Félix Tshisekedi.
To fast-track the project, KoBold, the National Geological Survey of Congo (SGNC), and the Mining Registry (CAMI) signed a memorandum of understanding (MoU) on July 25.
The MoU includes plans to digitize historic geoscientific archives housed at the Royal Museum for Central Africa (RMCA) in Brussels, along with records stored at CAMI, to enhance data access for exploration.
At the center of attention is the Manono lithium deposit in Tanganyika province, considered one of the world’s largest untapped reserves.
KoBold Metals intends to invest over $1 billion in the project, with promises to create jobs for Congolese communities while exporting lithium to global markets.
KoBold is currently applying for an exploration permit, which requires a cadastral review and draft decree before final approval by the Minister of Mines.
However, Popol Mabolia, Director General of CAMI, cautioned on August 7 that the process could take up to 60 days, emphasizing that no final decision has been made.
