KoBold Metals is backed by several billionaires, including Amazon founder Jeff Bezos and hedge fund manager Ray Dalio, through Gates's climate and technology fund, Breakthrough Energy. The company plans to continue its project in Zambia, with copper production expected to begin within the next decade. It also plans to go public in the next three to four years to finance its operations. The company's president, Josh Goldman, believes there is a lot more to be found in Zambia and that the potential for discovery is great.
Key takeaways:
- KoBold Metals, a startup backed by Bill Gates, has discovered a large copper deposit in Zambia, which it believes will be one of the world's largest high-grade copper mines.
- The company uses AI technology to find deposits of high-demand metals, such as lithium, cobalt, and nickel, that are used in renewable energy products.
- KoBold Metals is planning to continue its project in Zambia and expects copper production to begin within the next decade.
- The company plans to go public in the next three to four years to finance its operations.