Jeff Bezos, Bill Gates and Michael Bloomberg Join Forces to Mine for Raw Materials in Greenland
upstart writes:
Jeff Bezos, Bill Gates and Michael Bloomberg join forces to mine for raw materials in Greenland:
KoBold Metals, a mineral exploration company backed by Bill Gates, Jeff Bezos, Michael Bloomberg and Ray Dalio, has entered into a joint venture with London-based mining firm Bluejay to search for nickel, copper, cobalt and platinum on the world's largest island.
KoBold uses artificial intelligence and machine learning to decide where to purchase land, what type of field data to collect and where to drill to find new ore deposits.
The companies announced Monday KoBold will spend $15 million through 2024 to help Bluejay locate natural resources as part of its Disko-Nuussuaq project in Central West Greenland. KoBold will put up the funds in exchange for a 51 percent stake in the project.
Bluejay says studies have shown the region has geological similarities to Russia's Norilsk region, a large producer of nickel and palladium.
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