KoBold Metals, a mining firm backed by U.S. billionaires Jeff Bezos and Bill Gates, has secured seven permits to explore lithium in Congo. The Democratic Republic of Congo confirmed the licenses Wednesday, following a July agreement enabling KoBold to launch wide-ranging exploration projects.
At the heart of the deal lies Manono, one of the world’s largest known lithium reserves, coveted for powering electric vehicle batteries. KoBold officials said exploration across all seven permits would prioritise lithium, underscoring the company’s ambitions in the fast-growing global battery market.
According to Congo’s mining registry, four licenses cover Manono territory in Tanganyika province, while three span Malemba Nkulu in Haut-Lomami province. The permits open the door to a dozen minerals, including lithium, coltan, and rare earths, reflecting Congo’s immense geological wealth.
Yet Manono’s riches are shadowed by conflict, as a dispute persists between Congolese authorities and Australia’s AVZ Minerals over mining rights. This standoff has stalled development, raising questions about governance and transparency in a sector critical to both local stability and global energy transition.
For Congo, the KoBold agreement signals renewed foreign interest in its mineral resources, though it also heightens scrutiny over resource management. For KoBold, it offers a foothold in the world’s most mineral-rich heartlands, where opportunity is abundant but risks remain equally profound.