KoBold Metals, a San Francisco-based mining exploration company backed by investors including Bill Gates and Jeff Bezos, announced in May 2025 an agreement to acquire the stake held by Australian company AVZ Minerals Ltd. in the Manono lithium project in southeastern Democratic Republic of Congo. KoBold stated the transaction would enable it to deploy more than $1 billion toward bringing Manono lithium to Western markets.
The Manono deposit, confirmed roughly three years ago in Tanganyika province, is considered one of the world's potentially largest lithium resources. Its development has been delayed by a protracted ownership dispute. In 2024, the Congolese government was reported to have moved away from its partnership with AVZ, awarding exploration rights instead to Manono Lithium SAS — a joint venture between Chinese mining group Zijin and state-owned Cominière. The government had accused AVZ of concealing mineral exploration data, allegations AVZ denied.
The announcement of KoBold's entry followed the April 2025 US-brokered declaration of principles for peace in eastern DRC, through which Secretary of State Marco Rubio described a framework to end fighting and allow the region to reach its economic potential. KoBold, which uses artificial intelligence-driven analysis in mineral exploration, separately announced in 2024 the discovery of one of the world's largest high-grade copper deposits in Zambia.
An environmental impact assessment for the Manono mine was expected in May 2024 but had not been made public as of the announcement. A consultant working in the area cited significant corruption concerns in the project's history, noting the disappearance of approximately $30 million from a reported $70 million commitment by Zijin to the region.