KoBold Metals, a U.S. based mining company backed by American billionaires including Bill Gates, and Jeff Bezos, has been granted seven exploration permits to search for lithium and other critical minerals in the Democratic Republic of Congo (DRC).
This development reported on Wednesday, is a significant step in the company’s plan to initiate a large-scale mineral exploration program in the Central African country, which was formalized through an agreement with the DRC government in July 2025.
The newly awarded permits are situated in southeastern Congo, near the Manono lithium project. Manono is considered one of the world’s largest lithium deposits, used in production of electric vehicles.
By virtue of the permits the American based mining company now has the rights to prospect for lithium, as well as other minerals such as manganese, tin, and tantalum.
The mining sector is the backbone of the DRC’s economy, accounting for almost 90% of total exports. The country is the world’s leading producer of cobalt and a major producer of copper, diamonds, and gold.
Meanwhile, the deal aligns with broader U.S. strategic interests to secure supply chains for critical minerals, particularly those used in electric vehicle batteries, and to reduce reliance on Chinese dominance in the sector.
However, while the permits are a key step, KoBold has acknowledged that it will need to resolve a pre-existing dispute with Australian mining company AVZ Minerals, which has challenged the DRC’s termination of its rights to the Manono project and has initiated international arbitration.
As part of the initial agreement, KoBold has committed to a significant investment, with reports indicating a pledge of over $1 billion for the exploration and development drive.
