KoBold Metals uses AI to analyze data such as satellite imagery and drilling results to map the Earth’s crust and search for potential deposits of copper, cobalt, nickel, and lithium. These minerals are essential for building renewable energy infrastructure and electric vehicles. The company spends about $60 million annually to explore 60 different sites on three continents and has invested $200 million in Zambia.
Key takeaways:
- KoBold Metals, a California-based mining startup backed by billionaires including Bill Gates and Jeff Bezos, has discovered a large copper deposit in Zambia.
- The company uses artificial intelligence to find critical minerals needed for energy transition, and the new site is expected to be one of the world's largest high-grade copper mines.
- KoBold Metals is considering going public and is open to new partnerships, with potential construction on the new mine starting as early as 2027.
- The company spends about $60 million annually to explore 60 different sites on three continents and has invested $200 million in Zambia.