Latest news with #KoBold
TimesLIVE
08-05-2025
- Business
- TimesLIVE
KoBold Metals agrees on framework to buy stake in DRC lithium deposit
California-based metals exploration company KoBold Metals said on Wednesday that it had agreed on a framework to buy AVZ Minerals' interests in the Manono lithium deposit in the Democratic Republic of Congo (DRC). The agreement will enable KoBold, which is backed by billionaires Bill Gates and Jeff Bezos, to invest more than $1bn (R18.27bn) to bring lithium from Manono to Western markets. Lithium, a key metal used extensively to make batteries for electric vehicles and various consumer electronics, is produced in limited quantities in the US, leading to a heavy reliance on China. The administrations of both President Donald Trump and his predecessor, Joe Biden, have made efforts to reduce this dependency. Last month, Massad Boulos, President Trump's senior adviser for Africa, said that the US is in talks to invest billions of dollars in the mineral-rich DRC. The country boasts vast reserves of cobalt, lithium, uranium and other minerals essential for the energy transition. Both the Silicon Valley start-up and AVZ Minerals said that they were collaborating with all stakeholders involved in the deal, including the governments of the United States and the DRC.
E&E News
07-05-2025
- Business
- E&E News
Bill Gates-backed firm to buy Congo lithium deposit
KoBold Metals, backed by billionaire Bill Gates, has brokered a deal to buy a massive lithium project in the Democratic Republic of Congo. KoBold, which uses artificial intelligence to explore for materials key to the energy transition, announced Wednesday that it had hammered out a framework for buying Australia's AVZ Minerals' interest in the Manono lithium deposit in the southern Congo in central Africa. The company said the Trump administration helped shepherd through the deal and in a message on X thanked Secretary of State Marco Rubio; Massad Boulos, the department's senior adviser for Africa; and Congolese President Felix Tshisekedi for 'opening doors for U.S. investment' and agreeing on a framework for the investment. Advertisement 'We'll make America & DRC safer, stronger & more prosperous,' the company wrote.
Zawya
05-05-2025
- Business
- Zawya
African Mining Week to Spotlight Cutting-Edge Mining Tech
The upcoming African Mining Week (AMW) – Africa's premier gathering for mining stakeholders, scheduled for October 1-3, 2025 in Cape Town – will feature a dedicated Technology Forum. The forum will connect African mining projects with global technology providers and investors, showcasing how digital solutions are transforming resource extraction and redefining the mining value chain. As African countries scale up mineral production to drive GDP growth, developers are increasingly adopting data analytics and digital tools to boost operational efficiency. U.S.-based startup KoBold Metals, which applies artificial intelligence (AI) to mineral exploration, entered the Democratic Republic of Congo (DRC) in April 2025 to tap into the country's estimated $24 trillion in untapped mineral resources. The DRC – already the world's largest cobalt producer and a key copper supplier – could see its global mining profile rise significantly with KoBold's involvement. In Zambia, the company is advancing the $2 billion Mingomba project, one of the world's most promising untapped copper assets. Similarly, in Zimbabwe, Caledonia Mining is investing $1.1 million in IT infrastructure upgrades at the Blanket Mine as part of its $41.8 million capital budget. The upgrades include new mine planning software and a digital clocking system to improve labor efficiency, with a goal to increase gold output from 76,656 ounces in 2024 to up to 77,500 ounces in 2025. In Botswana, Botswana Diamonds is employing AI-driven exploration to expand beyond diamond mining, recently identifying new prospects for copper, silver, cobalt, gold, nickel, zinc and platinum group metals. 'During the initial analysis of the big database, it became clear that the AI technology could be used to identify other unknown minerals opportunities – and so it turned out,' said John Teeling, Chairman of Botswana Diamonds. Meanwhile, South African firms such as Kilken Platinum and Rio Tinto are deploying digital tools to unlock greater operational value. A joint report by Accenture and the World Economic Forum projects that digitalization could unlock up to R213 billion in additional value for South Africa's mining sector by 2026. Technologies such as predictive maintenance, autonomous operations and real-time data monitoring are helping firms streamline processes, reduce downtime and improve safety outcomes. The Technology Forum at AMW 2025 will feature high-level panels examining how digitalization can optimize infrastructure, enhance safety, predict system failures and support sustainable resource management in a data-driven mining environment. The forum will also provide a platform for mining companies to showcase real-world case studies, exchange knowledge with tech innovators, and explore partnerships that drive long-term value creation. Distributed by APO Group on behalf of Energy Capital&Power. About African Mining Week: African Mining Week serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energies 2025 conference from October 1-3 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@
Business Insider
27-04-2025
- Business
- Business Insider
Bill Gates, Bezos backed U.S. mining company expands into DR Congo
The U.S. mining company, backed by Bezos and Gates, aims to secure rare minerals vital for the energy transition in DR Congo's rich basin, a key move to compete with China. This development is significant for the African continent as countries seek to secure mineral deals with the US, amid ongoing talks driven by efforts to reduce reliance on China for critical metals. The newly appointed Director-General of KoBold Metals, Benjamin Katabuka, announced plans to utilize artificial intelligence in the DR Congo to discover untapped mineral deposits as US billionaires continue to invest heavily in the region. As per The Financial Times, Berkeley-based KoBold raised $537mn in January from investors including Gates's Breakthrough Energy Ventures, whose stakers include Bezos and former New York mayor Michael Bloomberg. The company has raised $1bn to date. In that regard, President Trump's senior adviser for Africa, Massad Boulos, revealed that he recently met with DR Congo President Felix Tshisekedi to discuss a potential US-DR Congo minerals agreement, paving the way forward. ' We're having similar discussions with other neighboring countries,' Boulos stated. 'Our role is to facilitate those private sector investments in the mining sector, including with American government funding ' he added. The US-China's interest in Africa's minerals DR Congo is the world's largest supplier of cobalt, a key component in electric vehicles batteries However, the country is in the midst of an armed conflict that has disrupted mining activities and investment, particularly in the eastern part of the country, where the M23 armed group controls significant territories. Many mines in the DR Congo are operated by Chinese companies, following the departure of major American mining firms, notably after Freeport-McMoRan sold its stake in the Tenke Fungurume copper mine to China's CMOC in 2016 Western investors' renewed interest could help counterbalance China's dominance in DR Congo's mining sector. As the world's demand for rare minerals, crucial for energy transition technologies like electric vehicles and renewable energy storage, continues to rise, DR Congo's vast mineral reserves are becoming even more strategically important. China has long been a dominant force in the region, controlling much of the extraction and trade of these minerals. However, with the increasing focus on diversifying global supply chains and securing more sustainable and ethical sourcing, Western investors are stepping up efforts to enter the market. This shift could challenge China's stronghold, introducing more competition, fostering better transparency, and potentially leading to improved labor and environmental standards in the sector.
Zawya
21-04-2025
- Business
- Zawya
Artificial Intelligence (AI) Powers Innovation, Efficiency and Growth in African Mining
African mining projects are increasingly incorporating artificial intelligence (AI) to streamline operations and meet ambitious production targets set by governments across the continent. As the mining industry undergoes a digital transformation, the upcoming African Mining Week (AMW) will highlight the pivotal role of AI and other digital tools in optimizing exploration and production processes, with a view to unlocking new mineral reserves, reducing costs and enhancing worker safety. Botswana Diversifies Mineral Portfolio In Botswana, Botswana Diamonds is expanding its mineral portfolio beyond diamonds with an AI-based nationwide exploration campaign launched in August 2024. By March 2025, the company identified potential deposits of besshi, greenstone, Mississippi Valley-type lead and zinc, SEDEX and platinum group metals (PGMs). To capitalize on these discoveries, Botswana Diamonds has applied for 11 new prospecting licenses. John Teeling, Chairman of Botswana Diamonds, stated: 'During the initial analysis of the big database, it became clear that the AI technology could be used to identify other unknown minerals opportunities… Our analysis so far has identified a series of targets in copper cobalt, zinc and gold.' KoBold Advances Zambia's Critical Mineral Market U.S.-based startup KoBold Metals is applying AI to enhance critical mineral exploration and mine development in Zambia. In January 2025, KoBold raised $537 million in new capital, bringing its total funding to $1 billion. The company is developing one of the world's largest untapped copper basins in Zambia, with plans to produce 300,000 tons annually by 2030 from its $2 billion Mingomba Project. Additionally, KoBold Metals is exploring the Dumbwa Mine and Konkola West Project, contributing to Zambia's goal of reaching 3 million tons of annual copper production by 2031. Kilken Platinum Drives Mine Expansion In South Africa, Kilken Platinum is utilizing AI to optimize operations at its Thabazimbi processing plant in Limpopo as part of an expansion plan to double PGM production to 83kgs per month. The project has already increased output to 40kgs in its initial phase. Dondo Mogajane, CEO of Kilken Platinum's parent company Moti Group, emphasized that AI enables real-time tracking of production metrics and ensures strict adherence to safety protocols. Beyond these projects, Rio Tinto subsidiary Richards Bay Minerals is employing AI for ore body modeling, equipment dispatch management and blast control at its mines in KwaZulu-Natal, South Africa. In the Democratic Republic of Congo, Glencore is leveraging digital technology to streamline critical mineral exploration as part of its Phase 2 expansion at the KTO copper and cobalt project. AMW 2025 will feature high-level discussions focused on AI's impact on industry growth, investment opportunities for technology providers and the broader economic benefits of digital transformation in mining. African Mining Week serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energies 2025 conference from October 1-3 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@ Distributed by APO Group on behalf of Energy Capital&Power.
