KoBold Metals, a mining start-up supported by Bill Gates, is advancing its efforts to invest in the Democratic Republic of Congo as it seeks to secure key metals for the global green-energy transition.
The company, led by Kurt House (the Chief Executive Officer), recently made a bid for an undisclosed asset in the region, highlighting the strategic significance of Congo as the world’s largest cobalt producer and a major copper source.
“Both these metals are poised to experience growing demand in the coming decade, driven by their essential roles in clean-energy infrastructure and rechargeable batteries,” Bloomberg reported.
KoBold’s exploration for metal deposits aligns with the objectives of the Biden administration, which aims to bolster American investments in the electric vehicle supply chain.
The company’s backers include Breakthrough Energy Ventures, a foundation supported by Bill Gates, as well as BHP Ltd., the world’s largest mining company.
