What price is KoBold likely to pay to AVZ Minerals for the...

What price is KoBold likely to pay to AVZ Minerals for the proposed purchase of AVZ's Manono Project?

ChatGPT said:

KoBold Metals, the U.S. mining startup backed by Bill Gates and Jeff Bezos, has agreed to acquire AVZ Minerals' stake in the Manono lithium project in the Democratic Republic of Congo (DRC). While the exact purchase price has not been publicly disclosed, reports suggest that the deal is valued at approximately $1.5 billion. The West Australian+18Ghana News Online+18IndexBox+18

The agreement aims to resolve ongoing legal disputes and facilitate the development of one of the world's richest hard rock lithium deposits. KoBold plans to invest over $1 billion to bring lithium from the Manono project to Western markets. ornoirafrica.com+4Metal Tech News+4batterymetalsafrica.com+4Metal Tech News+7Yahoo Finance+7cilive.com+7

The deal is also seen as a strategic move to counter China's influence in the DRC's mining sector, particularly after a portion of the Manono project was awarded to Chinese company Zijin Mining in 2023. The Australian+4The Australian+4ornoirafrica.com+4

The completion of the transaction is contingent upon resolving the ongoing legal disputes and securing necessary approvals from relevant authorities. MINING.CO