𝗞𝗼𝗕𝗼𝗹𝗱 𝗘𝘅𝗽𝗹𝗼𝗿𝗲𝘀 𝗟𝗶𝘁𝗵𝗶𝘂𝗺

…extends prospects beyond copper and Copperbelt

KoBold Metals (KoBold), touted to have discovered the largest copper ore deposit in Zambia yet, is expanding its prospects in Zambian mining beyond copper and is actively prospecting for lithium south of the country.

KoBold Metals chief executive officer Kurt House told President Hakainde Hichilema when a high-powered team of KoBold investors and executives met with the head of state on Friday, 7 June, that while they were very excited about Mingomba and the progress made there, their goal in Zambia goes much beyond Mingomba.

“Last week, the global lithium exploration team, including some of the most distinguished lithium geologists in the world, were in Southern Province looking at opportunities for lithium where there are no lithium mines today and but where we think Zambia holds great potential,” disclosed House.

Describing the prospect as “very green field”, House said they have a lot of work to do and have to walk on the ground and make the kind of observations that people who were looking for copper did 100 years ago.

“We have to start there and our team is beginning that work now, and the first take on the ground left them and left all of us very excited. We want to find the next Mingomba and the one after, and the Mingomba of lithium and we need the team here in Zambia who can find those next great deposits and who can work with us to find those next great deposits and so we are working across with these different dimensions together on the next opportunities here in Zambia. It’s a place where we have decided to invest strongly and to accelerate our investments,” House states .

In copper, KoBold is also working on its Konkola West project, 3 kilometers from the Konkola Copper Mine boundary and on which more than a kilometer has been drilled. Others are Kanyamata near Kipushi and Dumbwa in north-west Zambia for which they are now running an open tender.

He noted that the Lobito Corridor, which makes investments in Zambia even more attractive to KoBold, particularly with Mingomba’s location, is an important component that the US government is helping with

“We are now confident that Mingomba will anchor the Zambian spur of the Lobito Atlantic railway,” said House.

KoBold Metals Zambia chief executive officer Mfikeyi Makayi disclosed that more than 55,000 meters had been drilled at Mingomba over the last 16 months and that the company had rapidly grown from employing 15 people in January 2023 to 271 Zambian employees now.

“As we move forward, we are anticipating to be rapidly moving towards more than 700 staff,” she projected.

KoBold is a Silicon Valley startup that uses artificial intelligence to search for critical minerals and is backed by a coalition of billionaires, including Jeff Bezos, Bill Gates, and Sir Richard Branson. Its flagship project in Zambia, Mingomba in Chililabombwe, is expected to be the country’s largest mine when it becomes operational in a couple of years.