AVZ Minerals Partners with KoBold Metals on Manono Lithium Project

In early May 2025, AVZ Minerals, an Australian mining company, announced a significant agreement with U.S.-based KoBold Metals to transfer its interests in the Manono lithium project, located in the Democratic Republic of Congo (DRC). KoBold, backed by prominent investors including Bill Gates and Jeff Bezos, plans to invest over $1 billion to develop the project and supply lithium to Western markets. This move is part of a broader strategy to secure critical mineral resources and reduce reliance on Chinese-controlled supply chains.

The Manono project has been mired in legal disputes since the DRC government revoked AVZ's mining rights in 2023, awarding a portion of the deposit to China's Zijin Mining. Under the new framework, AVZ would receive appropriate compensation for relinquishing its claims, allowing KoBold to develop the southern portion of the deposit, while Zijin retains control of the northern section.

This agreement aligns with U.S. efforts to secure critical mineral supplies and strengthen economic ties with the DRC. The development of the Manono project is expected to create thousands of jobs in the region and contribute to the global transition to clean energy. The deal is pending final agreements and regulatory approvals. Both AVZ and KoBold are working collaboratively with stakeholders, including the U.S. and DRC governments, to facilitate the project's advancement.