KoBold Metals Secures DRC Permits, Expands Finland Exploration for Critical Minerals
KoBold Metals, a company supported by tech billionaires Jeff Bezos and Bill Gates, has been granted seven exploration permits in the Democratic Republic of Congo (DRC) for lithium and other minerals. The permits, issued in July, also give KoBold the potential to acquire the Manono deposit.
The permits are spread across two territories in the DRC. Four are located in the lithium-rich Manono territory in Tanganyika province, while the remaining three are in Malemba Nkulu territory in Haut-Lomami province. This allows KoBold to commence a large-scale mineral exploration program in the country.
In addition to its DRC operations, KoBold has expanded its exploration footprint by entering into an agreement with Aurion Resources in Finland. As part of this deal, KoBold Exploration Finland, a subsidiary of KoBold Metals, has the right to earn a 75% interest in non-gold and silver commodities within Aurion's Risti property. KoBold will invest €11.07m ($12m) in exploration activities in Finland by the fifth anniversary of the deal's signing.
KoBold Metals, with its recent permit acquisitions in the DRC and agreement with Aurion Resources in Finland, is poised to significantly expand its exploration activities for critical minerals. This move aligns with the increasing global demand for these resources, particularly lithium, which is crucial for electric vehicle batteries.
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