KoBold Metals secures exploration permits in the DRC

KoBold Metals, a mining company backed by U.S. billionaires Jeff Bezos and Bill Gates, announced on Wednesday that it has received seven permits to explore for lithium and other key minerals in the Democratic Republic of Congo (DRC).

Large-scale exploration programme

The permits follow a July agreement between KoBold and the Congolese government, granting the U.S. firm the right to carry out a large-scale exploration programme. The deal also provides KoBold a pathway to acquire rights over the Manono deposit, one of the world’s largest known lithium reserves, critical for electric vehicle battery production.

According to the company, the licensed areas are predominantly prospective for lithium. “Much of the ground is located near Manono but does not overlap existing permits,” KoBold said. The Manono project itself remains mired in a dispute between the DRC government and Australia’s AVZ Minerals, which has been waiting for a long-delayed mining licence.