Bill Gates, Jeff Bezos, and Other Billionaires are Funding a Quest for Rare Minerals Buried Beneath Greenland’s Ice Capable to Build Electric Cars and Renewable Batteries
Mining companies, investors, and billionaires like Bill Gates, Jeff Bezos, Michael Bloomberg, and others are funding an exploration for precious and rare metals and minerals buried beneath Greenland’s ice that can be used to build electric cars and renewable batteries, according to Business Insider.
A startup company based in California, KoBold Metals, the first AI-powered mineral exploration company, is working with Bluejay on this quest. There are a total of thirty people working on the project, some of them are pilots, geologists, and geophysicists.
According to the startup company, the demand for the minerals essential for electric vehicles and green energy transition is rapidly expanding.
“Replacing all gasoline-powered cars with electric vehicles is a critical need to avoid catastrophic impacts of climate change,” an entry to its website reads. “To build the batteries for these vehicles, we need all of the world’s reserves of cobalt, nickel, copper, and lithium plus another $10 trillion of new sources of those metals—an increase in demand of up to 40x over the next 20 years.”
As reported by NS Energy in February this year, the company has raised $192.5m in a Series B funding round for its AI-powered mineral exploration.
“New investors of KoBold Metals who participated in the funding round include Canada Pension Plan (CPP) Investment Board, Standard Investments, BHP Ventures, Mitsubishi, Sam Altman’s Apollo Projects, and Sarah Kunst’s Cleo Capital. KoBold Metals received further investment from its existing investors such as Breakthrough Energy Ventures, Andreessen Horowitz, and Equinor,” the outlet reported.
Using artificial intelligence, the team is looking for minerals and metals for batteries and electric vehicles in the hills and valleys of Disko Island and the Nuusauaq Peninsula.
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“It is a concern to witness the consequences and impacts from the climate changes in Greenland,” Bo Møller Stensgaard, CEO of Bluejay Mining told CNN. “But, generally speaking, climate changes overall have made exploration and mining in Greenland easier and more accessible.”
People criticized the projects by saying that they are “hypocrites.” The comments from the Newsbreak app best summarize it.
One user said, “Let’s see, electic cars to save the ice in Greenland…and we have to dig under the ice using diesel powered engines to get the materiels to make the batteries for the electric cars…and in the process, they destroy the ice, that they are trying to save in the first place. Makes total sense.”
https://www.thegatewaypundit.com/2022/0 ... batteries/