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Kobold Metals Strategic Investment In Zambia Paves Way for Sustainable Critical Mineral Supply Chains

In a significant move towards building transparent, secure, and sustainable critical-mineral supply chains, KoBold Metals has emerged as a key player in catalyzing investments in strategic projects.

The United States Ambassador to Zambia, His Excellency Michael Gonzales, commended KoBold’s efforts and emphasized the pivotal role such initiatives play in driving the energy transition and fostering a sustainable, climate-smart economy for the 21st century.

With a commitment to leveraging the world’s best artificial intelligence and human intelligence, KoBold President Josh Goldman expressed enthusiasm about the company’s ability to accelerate progress in critical-mineral exploration and extraction.

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Source: Mines.Org
Investee Companies, Investee Company News, ZCCM-IH, ZCCM-IH News

Mingomba Mining Project Excites State House

ZNBC Staffer

Special Assistant to the President for Economic and Development Affairs JITO KAYUMBA says government is very excited with the $150m investment towards the development of Mingomba mining in Chililabombwe district.

Mr. KAYUMBA says government is ready to formulate and ensure policy consistency especially in the Mining sector for sustainable investment and production.

And Mr. KAYUMBÀ adds that the debt restructuring deal has created a pathway for improved investor confidence not only in the mines but other subdivisions as well.

Speaking during a visit to KoBold Metal’s Mingomba exploration site this morning, Mr. KAYUMBÀ said government believes that Copperbelt mining will soon have life and contribute to government aspirations of increasing copper production to 3-million tonnes in the next ten years.

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Source: ZNBC
Investee Companies, Investee Company News, ZCCM-IH, ZCCM-IH News

Ambassador Michael Gonzales Remarks During his visit to Kobolds Mingomba Mine

Thank you all for having me and thank you to our hosts KoBold Metals for inviting us here today.  I’d also like to thank Presidential Special Assistant Jito Kayumba for joining us here today.

Six months after the conclusion of the U.S.-Africa Leaders’ Summit in December 2022, my first visit to KoBold’s Mingomba project is a reminder that the United States—not only the U.S. government, but the American private sector—is delivering on our commitments, our commitments to the people of Zambia.

During the Summit, President Biden announced that the U.S. government plans to invest $55 billion over the next three years across the African continent.  The Summit demonstrated our renewed commitment to partnerships between the United States and Africa: between countries, between institutions, and among our people.  We remain focused not on what we will do for Zambia as a donor, but what we will do with Zambia as a partner invested in Zambia’s success.  Because, we are investing in Zambia as we deepen and expand our partnership.

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Source: US Embassy Zambia
Investee Companies, ZCCM-IH News

KoBold Metals commits $150m investment in Zambia copper mine

US-based artificial intelligence exploration firm KoBold Metals has reportedly pledged a $150m investment to own, explore, and develop the Mingomba copper-cobalt mine in Zambia.

As part of the investment deal, KoBold agreed to pay $115m to the owners of the Lubambe Copper Mine, in which private-equity firm EMR Capital owns an 80% stake, reported The Wall Street Journal (WSJ).

In exchange, KoBold will receive a majority stake in the nearby Mingomba deposit, which is formerly known as the Lubambe Extension Project.

 

Furthermore, KoBold will invest $35m on exploration work at the Mingomba project, which is claimed to be the world’s highest-grade undeveloped large copper deposit.

 

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Source: Mining Technology