Gates and Bezos-backed Mining Firm Expands into DR Congo

KoBold Metals, a US-based mining company backed by billionaires Bill Gates and Jeff Bezos, is expanding into the Democratic Republic of the Congo (DRC) to secure vital minerals for the global energy transition. The company, supported by significant investments, including $537 million raised in January, plans to use artificial intelligence to discover untapped mineral deposits in the country. The move comes at a critical time as the DRC, the world’s largest supplier of cobalt, faces challenges like armed conflict in its eastern region. Western investors, including KoBold, are working to counterbalance China’s hold on the DRC’s mineral resources. This shift aims to diversify supply chains and improve sourcing standards, benefiting both the global economy and the African nation.

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