US mining firm KoBold Metals, backed by billionaires Jeff Bezos and Bill Gates, has signed a landmark agreement with the Democratic Republic of Congo to acquire the disputed Manono lithium deposit, dramatically escalating the battle for one of the world’s largest lithium reserves, said Reuters in a report on July 18.
The deal, confirmed by DRC President Félix Tshisekedi on social media, positions the California-based company as Congo’s preferred partner to resolve a prolonged legal dispute and develop the crucial electric vehicle battery resource, said the newswire.
Australian mining company AVZ Minerals has been embroiled in a bitter legal fight with Congo’s government over mining rights to Manono. The DRC’s Mines Ministry revoked AVZ’s permit in 2023, citing insufficient project progress, before later granting rights to Chinese firm Zijin Mining. AVZ has since sought international arbitration.
Under the agreement signed by Congo’s mines minister and KoBold’s local director on Thursday last week, the Congolese government commits to supporting KoBold’s acquisition of the Roche Dure lithium deposit at Manono and resolving development disputes.
KoBold must apply for exploration licences covering over 1,600 square kilometres before July 31, while Congo will appoint an envoy to facilitate the acquisition by the same deadline.
The deal aligns with broader US strategic interests following President Donald Trump’s June agreement to halt fighting in mineral-rich eastern Congo in exchange for Western investment. It supports America’s Lobito corridor initiative, designed to create secure supply chains and reduce Chinese dominance in critical minerals.
KoBold, which uses artificial intelligence to locate copper, cobalt, nickel and lithium deposits, will launch large-scale exploration using advanced technology. The company will also digitise geological records at the Royal Museum of Central Africa, providing free public access to historic data through Congo’s National Geological Service, said Reuters.
