KoBold Metals, a US-backed mining firm supported by billionaires Jeff Bezos and Bill Gates, has received seven new permits to explore for lithium in the Democratic Republic of Congo (DRC).
The DRC mining registry confirmed on Wednesday (August 27) that the permits cover ground in both the Tanganyika and Haut-Lomami provinces, including four in Manono territory, home to the massive Roche Dure lithium deposit.
The approvals follow a July agreement between KoBold and the DRC government that positioned the company to acquire and develop the disputed Manono project, considered one of world’s largest untapped lithium deposits.
“Our exploration efforts across all seven new licenses will be focused on lithium,” a KoBold official told Reuters. The permits also authorize searches for coltan, rare earths and other minerals across more than a dozen prospective sites.
For the DRC, the deal with KoBold furthers its strategy to attract western capital and technology to its critical minerals sector, reducing reliance on Chinese firms that dominate much of the country’s cobalt and copper production.
President Félix Tshisekedi publicly endorsed the agreement in July, framing it as a cornerstone of the DRC’s ambitions to strengthen its role in global electric vehicle supply chains.
Betting on AI-driven exploration
Founded in 2018 and backed by Breakthrough Energy Ventures, KoBold counts Bezos, Gates and venture firm Andreessen Horowitz among its investors. The company touts its use of artificial intelligence (AI) and advanced computing technology to accelerate the search for copper, cobalt, nickel and lithium.
Under its July framework with Kinshasa, California-based KoBold committed to launching a large-scale exploration program across more than 1,600 square kilometers by mid-2025. The agreement also obliges the DRC to appoint a special envoy to facilitate KoBold’s pursuit of the Manono acquisition.
In addition to field exploration, the company has pledged to digitize geological records housed at Belgium’s Royal Museum of Central Africa and make them publicly accessible through the DRC’s National Geological Service.
Legal clouds over Manono
Despite KoBold’s focus on Manono, the asset is mired in a protracted legal battle.
AVZ Minerals (ASX:AVZ), through its local joint venture Dathcom Mining, argues that it remains the rightful permit holder and has taken its case to the International Center for Settlement of Investment Disputes.
Last year, the tribunal issued interim measures ordering the DRC to recognize AVZ’s rights pending a final ruling.
AVZ said the KoBold agreement, which covers parts of the same perimeter, breaches those orders.
In a July 21 statement, the company stressed that it “remains open to constructive dialogue,” but insisted that any outcome must respect its legal rights and existing relationships.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
