Mining group backed by Bill Gates and Jeff Bezos expands into DR Congo

Stay informed with free updates

A mining start-up backed by Bill Gates and Jeff Bezos is expanding into the Democratic Republic of Congo, in a bet that the resource-rich nation will be crucial to US efforts to compete with China for minerals that are needed for the energy transition.

KoBold Metals, which deploys artificial intelligence to identify untapped mineral deposits, was betting “big” on DR Congo, said Benjamin Katabuka, its newly appointed director-general in the country. The company would recruit staff in the country and planned to apply for licences to explore for lithium, copper and cobalt, he said.

The push into DR Congo comes as the African nation seeks to secure a minerals deal with the US, in talks that are part of President Donald Trump’s ambitions to break dependency on China for metals.

“KoBold is looking to go big in this country in terms of investment,” said Katabuka, a former employee of Freeport-McMoRan who has more than a decade of experience in the industry in DR Congo. “Investments could be in the billions.”

Massad Boulos, Trump’s newly appointed senior adviser for Africa, said last week that he and DR Congo President Felix Tshisekedi had in recent days discussed the development of a US-DR Congo minerals pact and had “chartered a path forward”.

“We’re having similar discussions with other neighbouring countries,” Boulos added. “Our role is to facilitate those private sector investments” in the mining sector, including with American government funding, he said.

DR Congo is the world’s number one supplier of cobalt, a metal used in the production of batteries for electric vehicles. But it is also in the midst of an armed conflict that has disrupted mining in the eastern part of the country, where the M23 rebel group has seized large areas of land.

Berkeley-based KoBold raised $537mn during its latest round in January from investors including Gates’s Breakthrough Energy Ventures, whose backers include Bezos and former New York mayor Michael Bloomberg. The company has raised $1bn to date.

Katabuka acknowledged it was “difficult” to do business in DR Congo and that the perception of corruption was “high”. KoBold would insist on “high standards” for its operations, he added.

Separately, several of the billionaires backing the mining operation have environmental interests in DR Congo through their philanthropic foundations.

The Bezos Earth Fund had pledged to protect the Congo basin, which the UN estimates stores about three years’ worth of global greenhouse gas emissions, from “degradation, deforestation and biodiversity loss” with grants of $110mn. The Gates Foundation is supporting agricultural programmes in the region.

KoBold is also among the companies that are interested in developing a huge lithium deposit in DR Congo that is the subject of a legal dispute between Australia’s AVZ Minerals and China’s state-backed Zijin Mining.

The deposit had “the potential to become a large-scale, long-lived lithium mine”, KoBold wrote to the DR Congo government in January, according to a letter obtained by the Financial Times.

Mfikeyi Makayi, chief executive of KoBold Metals Africa, said the company was prepared to “look at” potential acquisition targets, although its main focus was on making new discoveries.

Many mines in DR Congo are run by Chinese groups, and no big American mining companies have operated there since Freeport-McMoRan sold its stake in the Tenke Fungurume copper mine to China’s CMOC in 2016.

Katabuka said the Congolese government was “interested in having some western investors coming into the country”, which would help “balance” China’s presence.

DR Congo wanted more metals processing to be done within the country, but it lacked the necessary infrastructure to do that, with mining companies even “struggling to get enough power for their production”, he said.

Visited 2 times, 1 visit(s) today

Related Article

Slender Honor MagicBook Art 14 2025 design shown off in official images

While the Honor Magic V5 is getting most of the attention, next week’s event will feature several other new devices. Honor already shared official images of the MagicPad 3, now let’s have a peek at the Honor MagicBook Art 14. Honor MagicBook Art 14 2025 More specifically, the Honor MagicBook

Study Finds Link Between Instant Coffee and Eye Disease Risk

A new genetics study found that drinking instant coffee may significantly increase the risk of developing dry age-related macular degeneration (AMD), a leading cause of vision loss in older adults. Published in the Wiley journal Food Science & Nutrition and led by a research team from multiple universities in China, the study found no such

iOS 26 Beta 2 tones down the Liquid Glass effect

Apple has released its second iOS 26 beta to developers, and the latest update tackles several user complaints associated with the new Liquid Glass design. There’s a more pronounced blur option for Control Center, which regulates the new Liquid Glass effect. The background uses a darker shade and adds more blur to help with legibility.

Future of Coffee Machines Market: 2025-2034 Analysis

According to a recent report by Expert Market Research (EMR), the global coffee machines market is expected to grow at a CAGR of 4.10% during the forecast period of 2025-2034. Driven by consumers’ evolving tastes and rising expectations for premium coffee experiences, the market is projected to witness substantial expansion by 2034. Coffee machines, from

Tecno Spark Go 2 brings updated design and affordable pricing

Tecno’s latest entry-level device is here with the Spark Go 2. As its name implies, this is the successor to last year’s Spark Go 1 and most of the key specs are identical between the two. Tecno Spark Go 2 in Ink Black and Titanium Grey Spark Go 2 does get an

Poco F7 price leaks ahead of today’s announcement

The Poco F7 is almost here – the big announcement is scheduled for later today. That said, Poco took a slightly weird approach with this launch and it sent us review units to unbox early – here is the Silver version and the Black version. Poco F7 in Silver and

vivo T4 Lite arrives with Dimensity 6300 SoC and 6,000 mAh battery

As promised, vivo has unveiled the T4 Lite as the latest member of the T4 series, which includes the T4, T4x, and T4 Ultra. vivo T4 5G The vivo T4 Lite has the Dimensity 6300 SoC under the hood, paired with up to 8GB of RAM and 256GB storage, which is expandable up to 2TB

Samsung announces the date of Galaxy Unpacked event for its new foldables

Last week, leakster Evan Blass said that Samsung would host its Galaxy Unpacked event for the unveiling of new foldables on July 9. Well, Blass’ claim has turned out to be true, as Samsung has confirmed the July 9 date for the Galaxy Unpacked event. The event will be hosted in Brooklyn, New York, and

T-Satellite with Starlink is launching next month — what you need to know about T-Mobile’s satellite-to-mobile service

Starting next month, it should be easier than ever to stay connected on T-Mobile’s wireless network, as the carrier has just announced plans to launch its satellite-to-mobile service starting July 23. T-Satellite launches initially with support for text messaging, with plans to offer data connectivity over satellite in October. The T-Satellite service is the result

The Phinoi Dripper—A New Take on Vietnamese Coffee

A modern interpretation of Vietnam’s traditional phin filter, the Phinoi made its debut last month at World of Coffee Jakarta. Today, we’re giving it a go. BY VASILEIA FANARIOTISENIOR ONLINE CORRESPONDENT Photos courtesy of Vasileia Fanarioti Can a modern phin filter reinvent how we experience Vietnamese coffee? That’s the question posed by the Phinoi, a strikingly

No one expected T-Mobile to dare so much: competitors should take note

T-Mobile has established itself as one of the major players in the mobile phone market in the United States. Its network is one of the most extensive and reliable in the country, and this has attracted not only millions of users. It has also drawn other companies interested in offering telecommunications services over its infrastructure.

Samsung Galaxy Z Fold7 and Z Flip7 prices leak ahead of launch

The Samsung Galaxy Z Fold7 and the Z Flip7 are reportedly just around the corner, so retailers are getting ready for the market release and putting up some preliminary listings. However, in order to prevent leaks, Samsung has started using codenames for its devices. Listings from an Italian retailer Unfortunately

Casabrews CM5418 Espresso Maker review

Today’s best CASABREWS Espresso Machine CM5418 deals When it comes to coffee, I’m pretty picky – not just about flavor, but about what my machine is made from. After speaking to toxicologists and medical experts about plastic coatings and mystery metals, I’ve been on the lookout for the best non-toxic coffee makers made without BPA

Nothing Headphones (1) now leak on video too

Nothing will release its first-ever over-ear headphones alongside the upcoming Nothing Phone (3) – that’s happening on July 1 (Tuesday). The company has created a suitably kooky design, which leaked a few days ago. Now, an even bigger leak has hit the web. This video is based on unconfirmed info, but offers potential answers to

Check out these detailed renders of the Galaxy Watch8 series

We can now be almost entirely sure what the Galaxy Watch8 series will look like, thanks to this latest batch of press renders, courtesy of Evan Blass. The renders show the Galaxy Watch8 in Black, the Galaxy Watch8 Classic in White, and the Galaxy Watch8 Ultra 2 in Blue. The big thing this year is

0
Would love your thoughts, please comment.x
()
x