Mining group backed by Gates and Bezos expands into DR Congo

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Financial Times 19h ago

Mining group backed by Gates and Bezos expands into DR Congo - Financial Times

Quick Summary:

Mfikeyi Makayi, chief executive of KoBold Metals Africa, said the company was prepared to “look at” potential acquisition targets, although its main focus was on making new discoveries.

Berkeley-based KoBold raised $537mn during its latest round in January from investors including Gates’s Breakthrough Energy Ventures, whose backers include Bezos and former New York mayor Michael Bloomberg.

The Bezos Earth Fund had pledged to protect the Congo basin, which the UN estimates stores about three years’ worth of global greenhouse gas emissions, from “degradation, deforestation and biodiversity loss” with grants of $110mn.