The Democratic Republic of Congo has granted US-based mining startup KoBold Metals seven permits to explore for lithium, according to officials. Backed by prominent investors Bill Gates and Jeff Bezos, KoBold will conduct surveys in a 4,500-square-kilometer area in Manono, a region known for its rich lithium deposits. This move is significant, as the Congo is already a major supplier of cobalt, accounting for approximately 70% of global production.
The permits awarded to KoBold Metals are part of the Congo’s efforts to position itself as a key player in the global clean energy transition. Lithium is a crucial component in the production of electric vehicle batteries and renewable energy storage systems. With demand for lithium expected to quadruple by 2035, the Congo aims to expand its mining industry beyond cobalt and become a major supplier of lithium.
KoBold Metals, which utilizes AI-driven exploration technology, is set to begin geological surveys immediately. The company is also developing the world’s largest cobalt-copper project at Kolwezi in southern Congo. This project underscores the Congo’s potential to attract significant investment in the mining sector, which could strengthen its role in the global green economy.
However, campaigners emphasize the need for transparency, community benefits, and environmental safeguards in new mining ventures. The Congo has historically struggled with corruption and resource-driven conflict, highlighting the importance of responsible mining practices. By ensuring that mining operations are conducted in a sustainable and equitable manner, the Congo can maximize the benefits of its mineral resources while minimizing the risks.
The granting of permits to KoBold Metals is a notable development in the Congo’s efforts to diversify its mining industry and contribute to the global clean energy transition. As the demand for lithium and other critical minerals continues to grow, the Congo is well-positioned to play a significant role in the global market. With careful planning and responsible management, the country can harness its mineral resources to drive economic growth and sustainable development.