KoBold Metals Expands African Footprint, Secures Lithium Exploration Rights in Finland and DRC
KoBold Metals, a mining company backed by tech billionaires Jeff Bezos and Bill Gates, has expanded its exploration footprint in Africa. The company has entered into an agreement with Aurion Resources in Finland and secured seven exploration permits in the Democratic Republic of Congo (DRC).
KoBold's exploration in Finland will focus on lithium, but the permits also cover the search for coltan and rare earths. The company has agreed to invest €11.07m ($12m) in exploration activities within five years. This deal also gives KoBold the potential to acquire the Manono deposit, currently involved in a legal dispute between the Congolese Government and AVZ Minerals.
In the DRC, KoBold has been granted seven exploration permits. Four are located in the lithium-rich Manono territory in Tanganyika province, while the remaining three are in Malemba Nkulu territory in Haut-Lomami province. These permits allow KoBold to explore for lithium and other minerals on a large scale in the DRC. The company's exploration efforts in the DRC are supported by prominent individuals such as former Alphabet CEO Eric Schmidt and billionaire venture capitalist Vinod Khosla.
KoBold Metals' expansion into Finland and the DRC strengthens its position in the global mining sector. With backing from high-profile investors and a focus on strategic minerals like lithium, coltan, and rare earths, KoBold is well-positioned to make significant discoveries and contribute to the electric vehicle and technology industries.
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