KoBold to Acquire Stake in Manono Lithium Project Amid US Push into DRC

Manono lithium

First major US lithium investment in DRC since 2016

KoBold Manono lithium project investment marks a strategic entry by the U.S.-based startup into the Democratic Republic of Congo (DRC), securing critical battery metals amid intensifying global competition. KoBold Metals will acquire AVZ Minerals’ stake in the Manono lithium deposit—one of the world’s largest undeveloped hard rock lithium assets.

Over $1 billion planned for Western market access

KoBold, backed by prominent investors such as Breakthrough Energy Ventures, plans to invest over $1 billion to develop and commercialize Manono’s lithium supply chain for Western markets. This deal represents the first significant U.S. mining investment in the DRC since 2016, reinforcing U.S. efforts to diversify lithium sourcing away from China.

Dispute with Zijin Mining still unresolved

However, the Manono project remains entangled in an ownership dispute. Chinese firm Zijin Mining also claims rights to the project and is aiming for a 2026 production start. As part of the new agreement, AVZ will propose a temporary suspension of arbitration proceedings at the International Centre for Settlement of Investment Disputes (ICSID) to facilitate negotiations. AVZ had earlier revised its joint venture with Suzhou CATH, granting CATH rights to purchase all spodumene output from Manono.

The Metalnomist Commentary

KoBold’s move into the Manono lithium project signals growing geopolitical urgency in securing battery metals outside China’s orbit. While the ownership dispute introduces short-term uncertainty, the scale of investment suggests long-term U.S. commitment to Africa’s critical mineral assets.