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KoBold Metals Secures Manono Lithium Deposit in Strategic DRC Deal

Metals and Mining

Business Honor - KoBold Metals Secures Manono Lithium Stake in DRC Deal

Business Honor
21 July, 2025

KoBold Metals signs deal with DRC to acquire Manono lithium deposit, advancing critical mineral exploration.

KoBold Metals, a U.S.-backed mining company supported by billionaires Jeff Bezos and Bill Gates, has secured an agreement with the Democratic Republic of Congo (DRC) to acquire the rights to the contested Manono lithium deposit in northern Congo. This transaction places KoBold on the path to becoming a dominant force in the fast-growing international market for critical minerals, used for electric vehicle (EV) batteries and other clean technology. Manono is one of the world's biggest untapped lithium deposits and therefore incredibly strategic for global energy change. KoBold's agreement with the DRC government aims to put an end to a lengthy court fight over mining rights. The project permit was originally owned by the Australian company AVZ Minerals, but in 2023, the DRC revoked AVZ's rights, citing that sufficient progress had not been made in the project's development. The rights were then assigned to a subsidiary of Zijin Mining and, later, were reassigned to KoBold.

The treaty points to the increasing competition for strategic mineral resources, with the DRC at the forefront of the world mining competition and race. The agreement was signed by the DRC's Mines Minister and KoBold's local director, with KoBold dedicating itself to large-scale mineral exploration activity in the country. The firm will utilize state-of-the-art artificial intelligence (AI) to locate rich deposits of lithium, cobalt, copper, and nickel at the heart of the green energy revolution. KoBold's program also involves digitizing geological records that the Royal Museum of Central Africa has and sharing them publicly via Congo's National Geological Service, which helps with scientific cooperation and transparency.

This transaction is one of a wider effort to enhance the global supply chains of key minerals, with the U.S. looking to counter China's dominance in the industry as seen in the latest Lobito Corridor development and U.S. investment in the region. The government of the DRC has vowed to back KoBold's exploration work, with licenses to be requested for exploration by July 31.