DRC signs major mining deal with U.S.-backed KoBold Metals

The Democratic Republic of Congo has signed a framework agreement with American mining firm KoBold Metals to explore critical mineral resources across the country. The signing took place Thursday in Kinshasa, in the presence of President Félix Tshisekedi.

KoBold Metals, which is backed by billionaires Jeff Bezos and Bill Gates, plans to invest more than one billion dollars in the DRC's mining sector. The company’s initial focus is the Manono lithium deposit, considered one of the largest in the world. Lithium is a key component in batteries and green energy technologies, making it highly strategic for global markets.

Beyond Manono, KoBold will launch a large-scale mineral exploration program across the country, using advanced technology to identify high-value deposits. The agreement includes plans to digitize the DRC’s geological archives, currently held at the Royal Museum for Central Africa in Belgium. KoBold also intends to apply for exploration permits covering more than 1,600 square kilometers before July 31, 2025.

While Congolese officials have hailed the agreement as a major investment opportunity, it has also raised concerns. Critics fear a repeat of the country’s long history of foreign exploitation, where vast natural wealth is extracted with little benefit to local communities.