KoBold Metals — The Mining Startup Backed by Bill Gates and Jeff Bezos Expands into Congo

A mining startup backed by billionaires Bill Gates and Jeff Bezos has announced plans to expand operations into the Democratic Republic of Congo (DRC), betting that the resource-rich nation will become a key player helping the U.S. compete with China for essential minerals in the clean energy transition.

1. KoBold Metals Bets Big on Congo's Mining Sector

KoBold Metals, a startup utilizing artificial intelligence (AI) to detect untapped mineral deposits, is making a bold move into Congo’s market.
Benjamin Katabuka, KoBold's newly appointed General Manager in Congo, stated that the company plans to hire local talent and apply for exploration licenses targeting lithium, copper, and cobalt — critical materials for the electric vehicle (EV) and renewable energy industries.

"KoBold is preparing for major investments in Congo," Katabuka revealed, estimating that total investments could reach billions of dollars.
This announcement comes as the U.S. government is negotiating a strategic minerals agreement with Congo to secure vital supplies and lessen reliance on China.

2. U.S. and Congo Near Strategic Mineral Agreement

Massad Boulos, Senior Advisor to President Donald Trump on Africa, confirmed that discussions with Congolese President Félix Tshisekedi have progressed, and a roadmap for future cooperation has been established.
Boulos also noted that similar conversations are underway with neighboring African countries.

"Our role is to facilitate private sector investments in mining, including support through U.S. government funding," Boulos emphasized.

Congo remains the world’s largest cobalt producer, a critical metal for battery manufacturing. However, ongoing armed conflicts, especially in eastern Congo, pose serious challenges to mining activities.

3. KoBold Metals' Commitment to Ethical and Sustainable Operations

Headquartered in Berkeley, KoBold Metals raised $537 million in its most recent funding round in January, with backing from major investors including Breakthrough Energy Ventures (Bill Gates’ fund), Jeff Bezos, and former New York City Mayor Michael Bloomberg.

To date, KoBold has raised a total of $1 billion.

While acknowledging that operating in Congo presents major challenges — including corruption — KoBold has pledged to maintain the highest ethical standards in all its activities.

Many of KoBold’s billionaire backers are also actively involved in environmental and humanitarian efforts in Congo:

The Bezos Earth Fund has committed $110 million to protect the Congo Basin, one of the world’s largest carbon sinks according to the United Nations.

The Gates Foundation is supporting sustainable agriculture projects across the region.

4. The Race for Congo’s Massive Lithium Deposits

In addition to exploring new sites, KoBold is closely monitoring the legal dispute over a major lithium deposit in Congo.
The site is currently at the center of a conflict between Australia’s AVZ Minerals and China’s Zijin Mining.

According to a letter obtained by Financial Times, KoBold wrote to the Congolese government in January, emphasizing that the lithium deposit "has the potential to become a world-class, long-life mine."

Mfikeyi Makayi, CEO of KoBold Metals Africa, stated that while the company is open to acquisition opportunities, its main focus remains on discovering and developing new mining sites.

5. America’s Strategic Return to Congo’s Mining Industry

Currently, most large mining operations in Congo are controlled by Chinese companies.
Since Freeport-McMoRan sold its stake in the Tenke Fungurume mine to China’s CMOC in 2016, no major American mining company has been directly active in the DRC.

Katabuka noted that the Congolese government is eager to attract Western investors to balance China’s heavy presence in the mining sector.

Congo also aims to boost local metal processing industries to add value to its raw materials. However, the country faces significant infrastructure challenges, particularly regarding reliable power supplies for mining operations.

Conclusion

With strong backing from some of the world’s most influential billionaires and cutting-edge AI technology, KoBold Metals is making a strategic move into Congo’s promising mining sector.
As the U.S. intensifies efforts to secure essential mineral supplies, KoBold’s expansion signals a significant geopolitical and economic shift in the global clean energy race.

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