KoBold Metals, a mining company backed by US billionaires Bill Gates and Jeff Bezos, signed an agreement with DR Congo’s government to launch a “large-scale mineral exploration program” in the country.
KoBold uses artificial intelligence to identify metal deposits. The deal, announced by Kinshasa on Thursday, commits DR Congo to support KoBold’s acquisition and development of the Roche Dure lithium deposit.
The site, located within the larger Manono site in the country’s southeast, is one of the world’s biggest deposits of lithium, a key component in batteries used in electric vehicles and renewable energy sources.
The deal includes a commitment to resolve disputes that have delayed the development of the Manono project. It also commits signatories to support efforts to “develop the Lobito Corridor to connect DRC investments with secure supply chains to the United States.”