{"id":3294,"date":"2022-03-26T09:47:00","date_gmt":"2022-03-26T06:47:00","guid":{"rendered":"https:\/\/www.turkishexporter.com.tr\/inturkey\/?p=3294"},"modified":"2022-03-26T09:47:01","modified_gmt":"2022-03-26T06:47:01","slug":"kobold-backed-by-bezos-and-gates","status":"publish","type":"post","link":"https:\/\/www.turkishexporter.com.tr\/inturkey\/kobold-backed-by-bezos-and-gates\/","title":{"rendered":"Mining firm backed by Bezos and Gates to begin Greenland drilling"},"content":{"rendered":"\n

COPENHAGEN – Mineral exploration company KoBold Metals, backed by billionaires including Jeff Bezos and Bill Gates, said on Thursday it would begin drilling in Greenland for critical materials used in electric vehicles<\/a>.<\/p>\n\n\n\n

KoBold, which uses artificial intelligence and machine learning to hunt for raw materials<\/a>, last year secured a 51% stake in the Disko-Nuussuaq project on Greenland’s west coast, which is operated by London-listed Bluejay Mining.<\/p>\n\n\n\n

The joint venture will use drones to make a high-resolution magnetic survey of the area and plans to drill a total of 3,000 metres this year to depths of between 150 and 400 metres where the metals are located.<\/p>\n\n\n\n

“The objective is to target massive nickel, copper<\/a>, cobalt and platinum group metals,” Bluejay Mining Chief Executive Bo Steensgaard told Reuters.<\/p>\n\n\n\n

Prices for nickel, used in stainless steel<\/a> and electric vehicle batteries<\/a>, more than doubled earlier this month in the wake of Russia’s invasion of Ukraine, which sparked Western sanctions against Moscow. Russia supplies about 10% of the world’s nickel needs. <\/p>\n\n\n\n

“The recent unfortunate geopolitical developments clearly show that the Western world needs new deposits of these critical metals,” Steensgaard said.<\/p>\n\n\n\n

KoBold is a privately-held company whose principal investors include Breakthrough Energy Ventures, a climate and technology fund backed by Microsoft\u00a0co-founder Bill Gates, Bloomberg founder Michael Bloomberg, and Amazon\u00a0founder Jeff Bezos.<\/p>\n\n\n\n

“Fully electrifying the global economy is our generation’s greatest challenge,” said KoBold CEO Kurt House.<\/p>\n\n\n\n

“To accomplish that lofty goal we must accelerate our efforts to find the key materials for the electric vehicle revolution,” he said.<\/p>\n\n\n\n

Last month, KoBold raised $192.5 million that will be used to discover critical materials.<\/p>\n\n\n\n

Other KoBold investors include Silicon Valley venture capital fund Andreessen Horowitz, Norwegian state-controlled energy company Equinor, and Ray Dalio, founder of the world’s largest hedge fund Bridgewater Associates.<\/p>\n\n\n\n

Reporting by Jacob Gronholt-Pedersen Reuters, Editing by Jason Neely and Mark Potter <\/p>\n\n\n\n

March 24, 2022<\/p>\n","protected":false},"excerpt":{"rendered":"

Mineral exploration company KoBold Metals, backed by billionaires including Jeff Bezos and Bill Gates, said on Thursday it would begin drilling in Greenland for critical materials used in electric vehicles.<\/p>\n","protected":false},"author":2,"featured_media":3295,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49,101,8],"tags":[328,327,325,324,326,39],"class_list":["post-3294","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mining","category-news","category-world","tag-batteries","tag-bill-gates","tag-exploration","tag-greenland","tag-jeff-bezos","tag-mining"],"_links":{"self":[{"href":"https:\/\/www.turkishexporter.com.tr\/inturkey\/wp-json\/wp\/v2\/posts\/3294","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.turkishexporter.com.tr\/inturkey\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.turkishexporter.com.tr\/inturkey\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.turkishexporter.com.tr\/inturkey\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.turkishexporter.com.tr\/inturkey\/wp-json\/wp\/v2\/comments?post=3294"}],"version-history":[{"count":1,"href":"https:\/\/www.turkishexporter.com.tr\/inturkey\/wp-json\/wp\/v2\/posts\/3294\/revisions"}],"predecessor-version":[{"id":3296,"href":"https:\/\/www.turkishexporter.com.tr\/inturkey\/wp-json\/wp\/v2\/posts\/3294\/revisions\/3296"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.turkishexporter.com.tr\/inturkey\/wp-json\/wp\/v2\/media\/3295"}],"wp:attachment":[{"href":"https:\/\/www.turkishexporter.com.tr\/inturkey\/wp-json\/wp\/v2\/media?parent=3294"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.turkishexporter.com.tr\/inturkey\/wp-json\/wp\/v2\/categories?post=3294"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.turkishexporter.com.tr\/inturkey\/wp-json\/wp\/v2\/tags?post=3294"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}