KoBold Metals is a mineral exploration company that uses Artificial Intelligence (AI) to search key raw materials for making electric car batteries which could be one more if it weren’t for the fact that it’s backed by moguls like Bill Gates or Jeff Bezos.
And now he has just signed an agreement with a mining company to search Greenland these critical materials in an area of 2,776 km² larger than Luxembourg.
Looking for nickel, copper or cobalt with AI
The California-based company believes it has found potential deposits of key ingredients such as nickel, copper, cobalt or platinum in the southwest of the country, in the Disko region.
To find out, it has signed an agreement with London-based miner Bluejay Mining to mine the area using a technique based on deep learning and AI that can find the best areas to drill.
In its unique approach, KoBold uses mining companies as well as scientists and software and data engineers from leading Silicon Valley companies.
Through a data platform in the cloud and through AI, a large amount of information is stored and structured to find models that can predict the composition of the subsoil in a statistically valid way.
What about Greenland? Well what has decided to suspend all oil and gas exploration as a way to combat climate change that is destroying it, and will stop issuing new licenses, so this company’s project may run into some pitfalls.
The truth is that the area where it is intended to drill already has licenses granted by the Government of Greenland to the Bluejay mining company.
This company has among its main investors Breakthrough Energy Ventures, a climate technology fund supervised by Bill Gates, Jeff Bezos, Michael Bloomberg, the main venture capital fund in Silicon Valley and how could it be otherwise, Equinor, the Norwegian state oil company.
And the fact is that the oil companies are on the way to diversification, and electric car can float your business in an unfriendly scenario with fossil fuels (yes, very long term).
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