An open-cast industrial mine owned by Chinese company Commus and the DRC state (which extracts cobalt and copper).

Staking a claimPhotograph: Pascal Maitre/Panos Pictures

Dec 18th 2025|NORTHERN ZAMBIA|6 min read

NEAR ZAMBIA’S border with the Democratic Republic of Congo, Josh Goldman, the boss of an American mining firm, is discussing his next venture. KoBold Metals is gearing up to do business in Congo, where one of the world’s biggest known lithium deposits is folded between layers of granite. The country is also home to myriad conflicts. But KoBold has been unable to resist. “It’s the most mineral-rich place on earth,” says Mr Goldman.

Signage for Mizuho Bank Ltd., a unit of Mizuho Financial Group Inc. (MHFG), at one of the bank's branches in Tokyo, Japan.

Meet the American investors rushing into Congo