Mining company, KoBold Metals, which is backed by Bill Gates and Jeff Bezos, will invest US$ 15 million in a nickel, cobalt and copper mining project, aimed at the production of electric cars
The mining company KoBold Metals, which has the support of billionaires like Bill Gates and Jeff Bezos, signed an agreement with Bluejay Minering, to look for nickel, cobalt and copper in Greenland. It is worth mentioning that these are the fundamental raw materials for the production of electric cars.
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Mining company will have a 51% stake in the project
KoBold, which uses artificial intelligence and machine learning to mine nickel, cobalt and copper, will invest $15 million in the Disko-Nuussuaq project off the west coast of Greenland. In return, the company backed by Jeff Bezos and Bill Gates will have a 51% stake in the project, says Bluejay.
The exploration license includes metals such as nickel, copper, cobalt and platinum, used in the manufacture of electric cars, and the funding will cover mineral research and the first excavations.
KoBold is a subsidiary of Breakthrough Energy Ventures, a fund focused on climate change control technologies that is backed by Bill Gates and Jeff Bezos, as well as Michael Bloomberg, founder of the financial news and information group Bloomberg, and Ray Dalio, founder of the world's largest hedge fund, Bridgewater Associates.
Nickel, cobalt and copper design may be similar to Norilsk Talnash
Disko-Nuusuaq encompasses a massive igneous sulfide area of 2.776 km² that is estimated to be rich in nickel, cobalt and copper. Based on Bluejay studies, the project of the mining company supported by Bill Gates and Jeff Bezos, has the potential to be compared to the largest nickel sulfide mine line in the world, Norilks Talnakh, in Russia.
The financing for the mining company, which seeks raw material for the production of electric cars, is implemented in a two-stage win-win commitment. The first will last until December 31, 2022, where US$ 3,4 million will be spent on the geophysical and geological assessment of the Project's discotheque. The second stage will last until December 31, 2024, where US$11,6 million will be awarded to one of two Drilling Efforts or 15 holes drilled in the nightclub license sector.
According to Bluejay CEO Bo Steensgaard, this is a key deal for the company, which is excited to have a pioneering partner in technologies for the exploration of nickel, cobalt, copper for electric cars, which is backed by investors well successful people like Bill Gates Jeff Bezos.
Meet KoBold Metals
KoBold Metals is a mining company that uses machine learning and other innovative techniques to increase the supply of materials to build electric cars and personal electronics.
The estimate is that new mines are needed for the production of electric cars to spread, however, before new deposits are explored, they must be found.
KoBold is the first full-stack exploration company, combining the world's top explorers with an outstanding team of software engineers and data scientists to deliver a range of exploration solutions.
