George N. Mtonga wrote;

A recent post circulating on Facebook from the Patriotic Front page falsely claims that KoBold Metals is a shell company with no employees or operations. This is factually incorrect and misleading.

✅ Here are the verified facts:

1. KoBold Metals is a legitimate operating company—not a shell.

It is a U.S.-based startup focused on mineral exploration using artificial intelligence and data science to find critical metals like cobalt, nickel, and copper.

KoBold Metals was founded in 2018, not 2022.

The company is headquartered in Berkeley, California, not just “registered with no offices.”

2. KoBold has real offices, employees, and global operations.

KoBold operates in multiple countries, including Zambia, Canada, Australia, and the Democratic Republic of Congo.

They are actively involved in exploration and mining partnerships, including a high-profile joint venture with First Quantum Minerals in Zambia.

As of 2024, they have over 100 employees, including geologists, data scientists, and mining engineers.

3. Their Delaware and UK registrations are standard legal structures.

Registering in Delaware or the UK is a common practice for startups and multinational companies due to favorable corporate laws.

This does not make a company a shell. Companies like Google, Meta, and Tesla are also incorporated in Delaware.

4. KoBold’s ownership is transparent and credible.

KoBold is backed by Breakthrough Energy Ventures, a climate-tech fund founded by Bill Gates, and supported by Jeff Bezos, Michael Bloomberg, Ray Dalio, Reid Hoffman, T. Rowe Price, and Andreessen Horowitz.

These are serious global investors who do not invest in “shell” companies.

5. There is zero evidence linking KoBold Metals to Hakainde Hichilema (HH).

The attempt to associate HH with ownership is politically motivated and unsupported by any credible documentation or shareholder record.

The Zambian government’s partnership with KoBold is between the State (via ZCCM-IH and First Quantum Minerals) and the investors, not personal or hidden.

易 What is a Shell Company, Really?

A shell company is typically one that exists only on paper, with no physical operations, no employees, and no significant assets. KoBold Metals:

Has real offices (Berkeley, California)

Runs real mining operations

Employs real people globally

Holds real assets and exploration licenses

 Conclusion:

The claim that KoBold is a “shell company” is factually false, legally inaccurate, and politically motivated. KoBold is a cutting-edge mining technology firm backed by some of the world’s most respected investors. Misinformation like this not only misleads the public but undermines investment confidence.