KoBold Metals

[Dave Evans]

KoBold came on the scene in early 2025 making claims and assumptions about buying AVZ Minerals share in Dathcom’s lithium project at Manono.

At the time, KoBold asserted they would pay fair value and ensure appropriate compensation, and AVZ Minerals took KoBold at its word and agreed to suspend ICC and ICSID arbitration in an effort to allow negotiations to proceed


08/05/2025

KoBold Announced


KoBold Metals
@KoBold_Metals

Thanks @SecRubio, @US_SrAdvisorAF, & @Presidence_RDC for opening doors for US investment. @KoBold_Metals & @AvzMineralsagreed on a framework for KoBold to buy AVZ’s interests in the Manono lithium deposit in the DRC. We’ll make America & DRC safer, stronger & more prosperous



May 8, 2025
116.6K Views

https://x.com/kobold_metals/status/1920168476968128767?s=46&t=6CB4a-o1KP_xg3M93rjQlg

The following are reports on KoBold by Bloomberg and other sources

08/05/2025

Yahoo Finance​

Bezos-Backed Firm Signs Deal to Advance Congo Lithium Mine

Michael J. Kavanagh, James Attwood and William Clowes May 8, 2025

In This Article​

https://trc.taboola.com/yahoo-finances/log/3/click?pi=/news/bezos-backed-firm-signs-deal-

(Bloomberg) -- KoBold Metals Co. has reached a preliminary agreement to move forward with the development of one of the world’s biggest hard rock lithium deposits in the Democratic Republic of Congo.

The firm, backed by billionaires Bill Gates and Jeff Bezos, reached a framework agreement with Australia’s AVZ Minerals Ltd. to buy the latter’s stake in project on the Manono deposit, according to a letter signed by KoBold Chief Executive Officer Kurt House and his AVZ counterpart Nigel Ferguson.

Any final deal for the lithium around the southeastern town of Manono will require the resolution of multiple arbitration cases surrounding the deposits. AVZ was close to breaking ground on mine construction when Congo canceled its rights in 2023 and split the permit, handing part to China’s Zijin Mining Group Co.

AVZ is willing to suspend the arbitration proceedings to “facilitate discussions” between the parties, the two CEOs said in the letter.

Congo will need to return the license containing the southern section of the Manono project to KoBold for the development to proceed.

KoBold has proposed a plan that would see AVZ receive compensation, while Zijin continues developing a mine in the northern portion of the Manono deposit, according to another letter addressed to Tshisekedi’s office in January and seen by Bloomberg. Rio Tinto Group has also held talks with Congo and KoBold about investing in the project.

AVZ said in 2020 it intended to build a mine at Manono capable of producing about 700,000 tons of lithium concentrate a year for two decades. That would the biggest operation of its kind outside Australia.

Michael Bloomberg, the majority owner of Bloomberg News’s parent Bloomberg LP, is an investor in Gates’ Breakthrough Energy, which holds a stake in KoBold, according to the company’s website.

(Updates with information on arbitration cases from seventh paragraph)

https://finance.yahoo.com/news/bezos-backed-firm-signs-deal-082226805.html

https://finance.yahoo.com/?err=404

18/07/2025

In May 2025 AVZ, in good faith, signed a framework agreement (with KoBold) suspending legal proceedings against the DRC, but then in July 2025, KoBold and the DRC began signing deals and having discussions without including AVZ in the process

The DRC President released this

https://x.com/Presidence_RDC/status/1945969033670504661

https://x.com/Presidence_RDC/status/1945969033670504661

Followed by KoBold releasing this


KoBold Metals
@KoBold_Metals

KoBold Metals and the Democratic Republic of Congo have signed a comprehensive agreement allowing the company to lead a wave of American investments in the country, as part of the investment and security agreement supported by @Presidence_RDC and @POTUS





Jul 19, 2025
39.5K Views

https://x.com/KoBold_Metals/status/1946208341484580896

21/07/2025

AVZ slams Congo-KoBold deal over disputed lithium project​

Cecilia Jamasmie | July 21, 2025 | 4:03 am Battery Metals Critical Minerals Regulatory Issues Africa Australia Cobalt Copper Lithium Tin

Aerial view of the Manono lithium project in the DRC. (Image courtesy of AVZ Minerals.)

Australia-based AVZ Minerals said on Monday a new agreement between the Democratic Republic of Congo (DRC) and US-backed KoBold Metals violates an international arbitration order tied to the disputed Manono lithium and tin project.

Kinshasa announced last week a preliminary deal with KoBold, an AI-driven exploration firm backed by billionaire investors including Bill Gates and Jeff Bezos, to jointly develop the southern portion of the Manono deposit. The site is one of the world’s largest untapped lithium sources.

The DRC described the agreement as a “strategic partnership”intended to open the door to increased American investment in the country’s mining sector.

KoBold Metals stated on X that the deal is linked to a peace accord between the DRC and Rwanda, brokered last month by US President Donald Trump. As part of that effort, Washington aimed to secure access to critical minerals for US-based companies.

AVZ, which holds a majority stake in Dathcom Mining —the company originally granted the license to develop Manon— has been locked in a legal battle with the Congolese government since 2023. That year, Congo’s mines ministry revoked AVZ’s permit, citing a lack of progress, and reassigned the rights to a subsidiary of China’s Zijin Mining.

The move prompted AVZ to file claims with the International Court of Arbitration and the International Centre for Settlement of Investment Disputes (ICSID).

In January 2024, ICSID issued interim orders requiring Congo to recognize Dathcom Mining as the rightful license holder and to protect AVZ’s rights throughout the arbitration process.

In May this year, KoBold inked a deal with the DRC to buy AVZ Mineral’s stake in Manono, which included a $1 billion framework to develop the project and compensate AVZ Minerals for relinquishing its claims.

AVZ argues the new KoBold agreement violates ICSID orders, undermining international legal proceedings and raising concerns about Congo’s respect for arbitration rulings.

US push into Congo​

The Manono partnership comes as the US steps up efforts to counter China’s dominance in global mineral supply chains. Congo, already the world’s largest cobalt producer and second-largest source of copper, also holds major reserves of lithium and tantalum—making it a strategic focus for American interests. Washington has signalled a growing commitment to Congolese mining. A US-linked group, including a firm run by former special forces members, is now the leading candidate to acquire Chemaf Resources, a major copper and cobalt producer in the DRC.

AVZ slams Congo-KoBold deal over disputed lithium project

AVZ claims a new US-backed partnership on the Manono lithium and tin deposit clashes with an arbitration ruling.

www.mining.com

 

[Dave Evans]

30/08/2025

KoBold Metals tells Congo to sort AVZ Minerals stoush after winning rights to hunt for lithium​

The US company, backed by billionaires including Jeff Bezos and Bill Gates, applied for the licences last month shortly after signing an exploration pact, which Congo’s presidency said aims to “open the way to American investments” in the mining sector

KoBold has informed Congo’s government that it would need to resolve a dispute with Australia’s AVZ Minerals before the US firm could advance its plans for Manono, which hosts one of the world’s biggest hard-rock lithium deposits.

KoBold Metals tells Congo to sort stoush with AVZ Minerals​

KoBold Metals has been granted seven permits to search for lithium and other minerals in the Democratic Republic of Congo.

thewest.com.au

 

[Dave Evans]

28/10/2026

On KoBold’s website their Code of Ethics claim honesty, anti corruption and integrity

But on Cominiere’s website, it shows KoBold’s CEO collaborating with Celestin Kibeya

French Version - Manono Project Mineral Resource increases 47% to 842Mt — AVZ Minerals

The DRC conquers Silicon Valley: Mr. Célestin Kibeya on a mission for a durable energy transition​

October 28, 2025/0 Comments/in News/byCOMINIERE

On the occasion of the DRC California 2025 Forum, under the theme "The DRC meets Silicon Valley: green energy, climate and strategic minerals", General Manager Mr. Célestin Kibeya took part in several major activities dedicated to the energy transition.

Accompanied by partners from Kobold Energy, Mr. Kibeya visited Tesla's electric vehicle manufacturing plant, a global symbol of technological innovation and sustainable mobility. This visit explored the opportunities for collaboration between the Democratic Republic of Congo, rich in strategic minerals essential to the production of batteries, and Silicon Valley actors involved in the green revolution.

The objective of this mission is clear: to strengthen technological and industrial partnerships for the responsible exploitation of Congolese resources, while supporting the transition to a low-carbon economy.

This forum marks an important step in cooperation between the DRC and Californian companies, paving the way for a future where innovation, clean energy and sustainable development move hand in hand. Eric Mpungwe

 

[Dave Evans]

09/01/2026

These Billionaires Bet Big On Greenland—After Trump Took Interest​

Martina Di Licosa
Jan 09, 2026 at 06:30am EST

Just months after President Donald Trump first expressed interest in the United States possibly gaining control over Greenland, some of the richest people in the world—including Jeff Bezos, Bill Gates and Michael Bloomberg—began making strategic investments in the mineral-rich island.

Jeff Bezos, Bill Gates and Michael Bloomberg: All have invested since 2019 in Kobold Metals, which has looked for valuable rare earth minerals

What Do We Know About Other Billionaire Investments?​

Bezos, Gates and Bloomberg were first reported to have invested in Kobold in early 2019 when the company closed its Series A round—just months after Trump started looking into “buying” Greenland.

The investments were made through Breakthrough Energy, a fund led by Gates whose stated aim is “to accelerate green energy innovation and build the industries of the future.”

The fund also participated in Kobold’s Series C investment round in December 2024, which valued it at just shy of $3 billion based on a $537 million capital input, according to a press release shared by the company.

Then, in 2022, Altman pitched in through his VC fund Apollo Projects, contributing to the firm’s Series B round, which had a total size of $192.5 million. An SEC filing from last week shows that Kobold is in the process of raising additional funds, meaning they could approach the billionaires again. None of the billionaires named in this piece responded to Forbes’ requests for comment. Kobold declined to discuss topics pertaining to Greenland on-the-record.

Bill Gates and Michael Bloomberg arrive for a meeting with the French President on December 12, 2017 at the Elysee palace in Paris. AFP via Getty Images

Greenland’s Billionaire Investors: Bezos, Gates, Altman And More Followed Trump’s Lead

As Trump increasingly threatens to take control, some of the most powerful people in the world have taken their own interest in the mineral-rich territory to the North.

www.forbes.com

08/02/2026

DRC-Mines: KoBold files five new applications for research permits​

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Manono Lithium Mines, aerial view

Economy
Saturday, February 7, 2026 - 18:07

One day after the reopening of its window, which occurred on February 3, the Mining Cadastre (CAMI) of the Democratic Republic of Congo registered five new applications for research permits introduced by KoBold Exploration DRC SA, as part of the implementation of the agreement signed on July 18, 2025 between this company and the Congolese government.

KoBold Exploration DRC SA is the local subsidiary of the American company KoBold Metals, supported in particular by Jeff Bezos and Bill Gates.

At the end of August 2025, seven mining research permits had already been granted to the company, after applications filed at the end of July, following an agreement in principle concluded on July 17, 2025 with the Congolese authorities.

Research permits, valid for five years, must make it possible to determine the existence of economically exploitable deposits and to assess their technical and commercial potential.

RDC-Mines : KoBold dépose cinq nouvelles demandes de permis de recherche​

Un jour après la réouverture de son guichet, intervenue le 3 février, le Cadastre minier (CAMI) de la République démocratique du Congo a enregistré cinq nouvelles demandes de permis de recherche introduites par KoBold Exploration DRC SA, dans le c
actualite.cd


17/02/2026

White House Pressed Australian Miner to Sell Congo Lithium Claim to US Firm

China’s Zijin Mining Group is preparing to begin extracting lithiumfrom one of the world’s largest untapped deposits in the Democratic Republic of Congo as early as June — a deadline that has sharpened Washington’s increasingly aggressive push to lock down African mineral resources before Beijing can consolidate its lead.

Zijin controls the northern half of the contested Manono lithium deposit in southeastern Congo, and its looming production start has added urgency to a separate diplomatic effort unfolding on the southern half of the same site — one that has drawn in the White House, the State Department, and a Silicon Valley-backed startup with billionaire investors.

Trump administration officials met with Nigel Ferguson, managing director of Perth-based AVZ Minerals Ltd., at the White House on January 21 and urged him to transfer the company’s contested interest in the Manono deposit to an American buyer. Ferguson confirmed the meeting. “The White House encouraged AVZ to do a commercially responsible deal with an American company — but did not nominate a specific company,” he said.

The only known US suitor is KoBold Metals, a Berkeley, California-based AI-driven exploration startup backed by Bill Gates, Jeff Bezos, and Marc Andreessen.

KoBold has Congolese government support and has signed framework agreements with both AVZ and Kinshasa, pledging more than $1 billion to develop the site and compensate AVZ for relinquishing its claims. KoBold declined to comment on the White House discussions.

Peter Harrell, a former Biden administration economic adviser now at the Carnegie Endowment for International Peace, said the approach marks new terrain for US policy. While officials have long pushed foreign companies to keep strategic assets out of Chinese hands, he said, explicitly directing a sale to Americans represents something different. “It sounds to me like a material shift in tone to say, ‘sell it to the Americans,'” Harrell said.

Congo revoked AVZ’s mining permit in 2023 and reassigned it, prompting the Australian company to file international arbitration cases that remain unresolved.

The International Centre for Settlement of Investment Disputes issued interim orders in January 2024 directing Congo to recognize AVZ’s joint venture as the rightful license holder — orders AVZ says subsequent KoBold-DRC agreements violate. Congo has not responded publicly to those claims.

KoBold, for its part, has said it will not begin construction until ownership issues are resolved. Cominiere, the Congolese state miner that now officially holds the southern concession, drew a pointed contrast with its Chinese partner’s approach. “The Chinese are more pragmatic,” Cominiere’s managing director told Reuters.

Complicating matters further, CATL — the world’s largest EV battery manufacturer and a major AVZ shareholder — had a prior agreement to purchase Manono’s lithium output and has been funding AVZ’s arbitration campaign. The arrangement gives China a financial stake in the company Washington is now pressuring to align with American interests.

The Manono dispute sits within a broader minerals-for-security framework that the Trump administration is assembling with Congo. On February 4, Secretary of State Marco Rubio hosted the inaugural Critical Minerals Ministerialat the State Department, drawing delegations from 54 countries. Vice President JD Vance announced coordinated reference prices and price floors for critical minerals, aimed at shielding Western producers from Chinese market pressure.

American officials have identified Manono as a priority target within theWashington Accords for Peace and Prosperity — a minerals-for-security deal Trump brokered between Congo and Rwanda in December 2025 that grants US companies preferential access to Congolese mineral reserves.

White House Pressed Australian Miner to Sell Congo Lithium Claim to US Firm | the deep dive

China’s Zijin Mining Group is preparing to begin extracting lithium from one of the world’s largest untapped deposits in the Democratic Republic of Congo as early as June — a deadline that has sharpened Washington’s increasingly aggressive push to lock down African mineral resources before...

thedeepdive.ca

 

[Dave Evans]

19/02/2026

Regarding the multi billionaire tech owners of KoBold Metals (who are worth hundreds of billions of dollars), and KoBold’s claim to operate with principles of Anti Corruption, Honesty and Integrity, the following questions have been raised by AVZ shareholders

Firstly, why did KoBold imply that they would pay AVZ fair value for the Manono project after which AVZ states that it has not received a commercially acceptable offer from KoBold. In fact many AVZ shareholders believe the low-ball offer was so low that AVZ wouldn’t even acknowledge it

Secondly, why does KoBold appear to consistently omit important facts in reports that it was….

AVZ who explored and discovered the lithium at Manono and produced the assays and JORC resource size and grade of 842Mt of 1.61% grade lithium, with Roche Dure containing 669Mt of 1.61% of Li2O

French Version - Manono Project Mineral Resource increases 47% to 842Mt — AVZ Minerals Limited


AVZ who produced the DFS, BFS and Sustainability Reports

avzminerals.com.au

https://minedocs.com/20/Manono-DFS-04212020.pdf

https://announcements.asx.com.au/asxpdf/20220617/pdf/45b0wzfp5rpg7d.pdf

AVZ who fulfilled all requirements to legally obtain the mining license PE13359

And AVZ who have won all the findings in the ICC and ICSID arbitration cases

https://static1.squarespace.com/static/5934d2ae6b8f5beeb5ba23f3/t/67d3c05d706c8e3c6453432b/1741930593293/20250314+-+Announcement+-+Response+to+Media+Speculation+and+ICC+Decision+to+Liquidate+Cominiere+Penalty(1300575192.2)+ENG_FRE.pdf

https://static1.squarespace.com/sta...de+Courtoisie+de+la+Sentence+Partielle_en.pdf

https://static1.squarespace.com/sta...uncement+-+ICC+Dismisses+Cominiere+Action.pdf

https://static1.squarespace.com/sta...+AVZ+Successful+in+ICSID+Interim+Measures.pdf

Many AVZ shareholders continue to raise questions about KoBold’s statements that it doesn’t tolerate corruption; that it would walk away from countries rather than participate in corruption; that it has a passion to be open and honest about everything all while collaborating with Cominiere

On top of this, KoBold has gone from saying it will pay AVZ fair value to saying it will offer what it believes is a commercially appropriate value. There offer is in stark contrast of what AVZ believes to be the commercial value

Let’s remember three very important things

1) The Manono deposit that AVZ discovered contains 669Mt of high grade (1.61%) lithium oxide which has been described as homogeneous and at surface

2) The destruction in value of AVZ’s share in the project has been estimated at USD9.4 billion

3) AVZ has won every decision handed down in the International Chamber of Commerce

 

[Dave Evans]

The multi billionaire owners of KoBold seem to be having trouble deciding which side of the fence they stand on

The side where they really show they won’t tolerate corruption and walk away from deals with companies like Cominiere that participate in Corruption. Or will they continue to collaborate with Cominiere

And, do they really have honesty and integrity when they say they will pay AVZ Minerals fair value for the Roche Dure deposit containing 669Mt of 1.61% of Li2O as well as 690ppm Sn and 33ppm Ta

Cominiere’s corruption and the valuation of AVZ Minerals share in Roche Dure can both be found in this one document by the International Chamber of Commerce, where the International Court of Arbitration declared Cominiere already owes AVZ more than €39million (in fines alone) for violating the orders of the International Chamber of Commerce and International Centre for Settlement of Investment Disputes

https://static1.squarespace.com/static/5934d2ae6b8f5beeb5ba23f3/t/67d3bd288dbce72fde15904f/1741929783803/20250310+27720+SVE+-+Copie+de+Courtoisie+de+la+Sentence+Partielle_en.pdf