Australia’s AVZ Minerals has suspended its arbitration case against the Democratic Republic of Congo until later this month, following US encouragement to resolve the dispute over the massive Manono lithium project.
The suspension, announced last week, comes as Washington backs American start-up KoBold Metals – funded by tech billionaires including Bill Gates and Jeff Bezos – to acquire AVZ’s stake in Manono.
If successful, KoBold will pledge US$1 billion (7.2 billion yuan) to develop the project, countering China’s Zijin Mining, which controls the northern section of Manono after the DR Congo revoked AVZ’s rights in 2023.