As the world’s demand for minerals grows, private investors are making more direct deals with African governments. Instead of going through the usual diplomatic channels, wealthy individuals and companies are securing valuable mining deals on their own. While this can speed things up, many wonder if this is real progress or just a new version of past exploitation.
The Democratic Republic of Congo (DRC), a country rich in natural resources but still facing poverty, is at the heart of this new scramble for minerals. One major deal involves KoBold Metals, a mining company backed by some of the world’s richest people, Bill Gates, Jeff Bezos, Richard Branson, and Michael Bloomberg, through their climate and tech-focused investment funds.
KoBold uses artificial intelligence to search for valuable minerals underground. The company says its technology can help find key materials like lithium and cobalt used in electric cars and batteries faster and more efficiently.
But this high-tech promise is set against a complicated background. The Manono lithium site in Congo, which KoBold wants to mine, is already caught in legal disputes. This shows how difficult it can be to do business in countries where the rules are unclear or often change. At the same time, the deal is part of a global power struggle, especially between the United States and China, over who controls Africa’s mineral wealth.
There’s something deeply ironic in the fact that minerals needed for a green future are coming from a country still dealing with war and poverty. KoBold says it wants to digitise Congo’s mining data to make the industry more transparent, while U.S. diplomats are working to bring peace to the troubled eastern region. But many people still ask: Will this time be any different?
There are two possible futures. In one, investment truly helps African countries by creating jobs, building local skills, and using mining profits to improve schools, hospitals, and roads. On the other hand, it’s the same old story: minerals leave, and the people stay poor.
Africa is at a crossroads. The choices made now about who mines, how they mine, and who benefits will shape the continent’s future for decades. With billionaires and world powers betting on Africa’s resources, we’re all watching. What happens next matters to everyone.
