https://newsletter.en.creamermedia.com
SECURITY
SECURITY
security

KoBold Metals to acquire AVZ’s interests in DRC lithium deposit

An image of the Manono deposit

Manono deposit

8th May 2025

By: Tasneem Bulbulia

Deputy Editor Online

     

Font size: - +

Bill Gates-backed US company KoBold Metals and Australia-headquartered AVZ Minerals have agreed on a framework for KoBold to buy AVZ’s interests in the Manono lithium deposit, in the Democratic Republic of Congo (DRC).

The companies highlight that rapid, ethical development of the deposit should play a role in supporting peace and security, and are advancing this process through reaching consensus on a commercial framework enabling Manono’s development, they state.

This framework entails AVZ selling its commercial interest in the deposit to KoBold for fair value.

The agreement is expected to enable Kobold to rapidly deploy more than $1-billion to bring Manono lithium to Western markets.

The companies posit that the development could create considerable amounts of high-paying Congolese jobs for a long period.

The companies are working to conclude the commercial agreement for KoBold to buy AVZ’s interest in the deposit and develop it.

AVZ has committed to proposing to the DRC government a temporary suspension of the International Centre for Settlement of Investment Disputes arbitration proceedings to facilitate discussions.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Tractor & Grader Supplies
Tractor & Grader Supplies

Tractor & Grader Supplies (TGS™): Your Trusted, Genuine Source for New Replacement Parts for Earthmoving, Construction and Mining Machinery

VISIT SHOWROOM 
John Thompson
John Thompson

John Thompson, the leader in energy and environmental solutions through value engineering and innovation, provides the following: design, engineer,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (09/05/2025)
9th May 2025 By: Martin Creamer
Magazine round up | 09 May 2025
Magazine round up | 09 May 2025
9th May 2025

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.288 0.378s - 168pq - 2rq
Subscribe Now