Company Backed by Bezos & Gates Moves to Help Mine Metals in Greenland for Electric Vehicles
© REUTERS / Saul Loeb/POOL
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In exchange for $15 million of funding, KoBold Metals will receive a 51 percent stake in the Disko-Nuussuaq project located on Greenland’s west coast.
A mineral exploration company called KoBold Metals, which is backed by such prominent figures as Bill Gates, Jeff Bezos, and Mike Bloomberg, has entered a joint venture with Bluejay Mining to source materials used in electric vehicles.
According to Reuters, KoBold, which “uses artificial intelligence and machine learning to hunt for raw materials,” is going to fork out some $15 million on exploring the Disko-Nuussuaq project located on Greenland’s west coast in exchange for a 51 percent stake in said project.
"The license holds metals such as nickel, copper, cobalt and platinum,” with the funding provided being expected to cover “evaluation and initial drilling," the media outlet reports.
Commenting on this development, Bluejay Mining CEO Bo Steensgaard said the agreement is “transformative” for his company.
"We are delighted to have a partner at the pinnacle of technical innovation for new exploration methods, backed by some of the most successful investors in the world," he added.
Many social media users, however, are not particularly happy with this situation, arguing that the mining effort might harm the environment in Greenland, while calling out the billionaires for their "greed."
It’s the main downside of green energy they don’t tell you about. Lithium, copper, etc has to come from somewhere. Greenland has large reserves of them. So we’re quit literally gonna destroy Greenland to make eco-friendly energy and electric cars.
— 🇺🇸struggles🇨🇺 (@king_ofdior) August 11, 2021
They think they aren't rich enough.
— OrO (@OrO02376647) August 11, 2021
Sadly, between them they have enough money to buy Greenland. Tearing the heart out of another beautiful country because of greed.
— alan@ae-taylor.co.uk (@AETAYLOR2) August 11, 2021
Electric vehicles was never about saving the environment. It was always just about prolonging the status quo for a few more years of recklessly burning through every remaining ecosystem, every remaining energy source. And in the end it was all for nothing. https://t.co/2DMNrooLot
— Wrath Of Gnon (@wrathofgnon) August 11, 2021
