Highlights
- KoBold Metals is backed by Gates, Bezos, and Bloomberg.
- The company is expanding into the DRC to secure critical minerals for renewable energy.
- KoBold Metals uses advanced AI to identify untapped mineral deposits.
- The focus is on lithium, copper, and cobalt exploration.
- There is a potential multi-billion dollar investment involved.
- KoBold aims to responsibly develop mineral resources.
- The goal is to support the global energy transition.
KoBold Metals (opens in a new tab), a pioneering mining technology company supported by prominent investors including Bill Gates, Jeff Bezos, and Michael Bloomberg, has announced a significant expansion into the Democratic Republic of Congo (DRC). This strategic move aims to secure vital minerals essential for the global shift towards renewable energy and electric vehicles.
Reported by the Financial Times (opens in a new tab) the company is leveraging advanced artificial intelligence. That is, KoBold Metals specializes in identifying untapped mineral deposits. The company’s expansion into the DRC focuses on exploring for lithium, copper, and cobalt—minerals critical for the energy transition. This initiative aligns with broader efforts to diversify global supply chains and reduce reliance on dominant players in the critical minerals market.
Benjamin Katabuka, KoBold’s newly appointed Director-General in the DRC, stated, “KoBold is committed to significant investments in the DRC, potentially amounting to billions of dollars. Our goal is to harness the country’s rich mineral resources responsibly and sustainably.”
This expansion coincides with ongoing discussions between the U.S. and DRC governments to establish a minerals partnership, aiming to bolster economic ties and promote ethical mining practices. KoBold’s entry into the DRC market represents a strategic effort to balance the existing dominance of other global players in the region.
In addition to its activities in the DRC, KoBold Metals is advancing the development of the Mingomba copper project in Zambia. With an estimated investment of $2.3 billion, the project is poised to become one of the largest copper mines in the country, further solidifying KoBold’s commitment to supporting the global energy transition through responsible mining practices.
About KoBold Metals
KoBold Metals is a California-based company at the forefront of integrating artificial intelligence with mineral exploration. By combining cutting-edge technology with sustainable practices, KoBold aims to discover and develop critical mineral resources essential for the future of clean energy.
KoBold Metals is a Berkeley, California-based mineral exploration company that uses AI to find critical minerals for the electric vehicle and renewable energy industries. Founded in 2018, KoBold employs a team of data scientists, engineers, and geoscientists to analyze large datasets and identify potential mineral deposits. The company aims to accelerate the pace of exploration and improve the efficiency of resource discovery.
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