Bezos-Backed Firm Signs Deal to Advance Congo Lithium Mine

KoBold Metals Co. has reached a preliminary agreement to move forward with the development of one of the world’s biggest hard rock lithium deposits in the Democratic Republic of Congo.

The firm, backed by billionaires Bill Gates and Jeff Bezos, reached a framework agreement with Australia’s AVZ Minerals Ltd. to buy the latter’s stake in project on the Manono deposit, according to a letter signed by KoBold Chief Executive Officer Kurt House and his AVZ counterpart Nigel Ferguson.