Ko Bold Metals, a mining company backed by Bill Gates and Jeff Bezos, has asked the US government for help with its $50mn lithium exploration programme in the Democratic Republic of Congo. The company alleges that China is using a UN arms embargo process to block its use of mapping technology.
Ko Bold plans to use high-tech aerial surveying equipment to map where mineral deposits may lie. Because the technology also has military applications, including in submarine navigation and stealth detection, the company needs an exemption from the UN Security Council. The UN arms embargo blocks the supply of weapons and related materials to non-governmental entities operating in the country, so the exemption is required before the survey can fly.
In correspondence with the state department in September, Ko Bold warned that "if the exemption fails, Ko Bold cannot fly the survey," adding that a stall could cost the dry-season flying window and another year. The US state department has submitted a request to the UN on the basis that the equipment would be used for civilian purposes, but no exemption has yet been approved. China's foreign ministry did not respond to requests for comment.
The DR Congo has become a focus for Western mining companies seeking to reduce their dependence on Beijing for metals, while much of the country's output is already extracted by Chinese groups. Ko Bold, which raised $291mn this year at a $4bn valuation, holds 14 licences in the country to explore for metals including lithium.
Source: Financial Times Companies · Summarized by HeadlinesBriefing