KoBold Metals is WhyAfrica’s Pick Of The Week
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KoBold Metals is WhyAfrica’s Pick Of The Week
USA based KoBold Metals is betting big on the Democratic Republic of Congo.
By Leon Louw founder of WhyAfrica and Endorphin Expeditions and editor of the WhyAfrica magazine.
USA based KoBold Metals, backed by a group of tycoons including Bill Gates and Jeff Bezos, yesterday said that the company will further expand their interest in the Democratic Republic of the Congo (DRC).
KoBold has already made a controversial bid for the Manono project, reportedly one of the largest lithium deposits in Africa. Manono also hosts significant tin deposits.
Yesterday, Benjamin Katabuka, KoBold’s newly appointed director-general in the DRC, said that the company is betting big on the DRC.
KoBold bets big on the DRC
“KoBold plans to apply for licenses to explore lithium, copper and cobalt deposits in the DRC,” Katabuka said.
KoBold uses Artificial Intelligence to identify untapped mineral deposits. The company is fast tracking development of Mingomba, its flagship copper project in the Zambian Copperbelt, across the border from the DRC.
Mingomba is a massive deposit and could boast an underground mine in less than five years.
KoBold’s investment in the Mingomba project is estimated at about USD2.3-billion, with more than USD300-million predicted to be spent by the end of this year on discovery, resource characterisation and engineering studies.
Shaft sinking is scheduled to get underway in the first quarter of 2026.
Backed by the Zambian government
Development at Mingomba is backed fully by the Zambian government with President Hakainde Hichilema saying that all bureaucratic obstacles will be addressed to facilitate the mines development.
Mingomba boast a large deposit of high-grade ore and with its advanced technological approach is certainly a project to continue following.
WhyAfrica continues to track exploration projects
WhyAfrica tracks early-stage mineral exploration and mining development projects across Africa. To learn more about doing business in Africa, investing in Africa and the junior mining sector in Africa, visit the WhyAfrica website, your one-stop-shop for on the ground information and business intelligence in Africa.
If you have any questions about expanding your business into Africa or if you want information about specific projects or countries in Africa, do not hesitate to give us a call.
Remember to follow our annual WhyAfrica Road Trip across Africa in August, during which we will aim to visit 30 project sites and interview more than 50 decision makers in the countries that we visit.
KoBold Metals is WhyAfrica’s Pick Of The Week
