The United States mining company, with the backing of prominent figures like Bezos and Gates, is making strategic moves to secure rare minerals essential for the energy transition in the Democratic Republic of Congo’s (DR Congo) mineral-rich basin. This initiative is seen as a pivotal step in competing with China, which currently holds a dominant position in the global mineral market.
The involvement of US investors in DR Congo’s mineral sector is a significant development for the African continent. Countries are actively seeking mineral deals with the US as part of broader efforts to reduce dependency on China for critical metals. KoBold Metals, a Berkeley-based company, recently raised $537 million in funding, with investors including Gates’s Breakthrough Energy Ventures and other notable stakeholders. The company’s focus on utilizing artificial intelligence to discover untapped mineral deposits in DR Congo highlights the growing interest in the region.
President Trump’s senior adviser for Africa, Massad Boulos, recently met with DR Congo President Felix Tshisekedi to discuss a potential minerals agreement between the US and DR Congo. Boulos emphasized the role of private sector investments in the mining sector, with the possibility of American government funding to support these initiatives.
One of the key aspects of the US-China interest in Africa’s minerals is DR Congo’s status as the world’s largest supplier of cobalt, a crucial component in electric vehicle batteries. However, the country’s mining activities have been disrupted by armed conflicts, particularly in the eastern region controlled by armed groups like M23. Despite these challenges, Western investors are showing renewed interest in the region, aiming to counterbalance China’s dominance in the mining sector.
As global demand for rare minerals continues to rise, DR Congo’s vast mineral reserves are becoming increasingly important for energy transition technologies like electric vehicles and renewable energy storage. Western investors entering the market could potentially challenge China’s stronghold, leading to more competition, improved transparency, and better labor and environmental standards in the sector. However, DR Congo will need to develop essential infrastructure, including power supply and metal processing facilities, to fully capitalize on its mineral resources.
