Bill Gates, Jeff Bezos, Michael Bloomberg, and other investors are planning a joint mining venture in Greenland.
Bluejay Mining and KoBold signed an agreement to mine in Central West Greenland in the interest of finding resources necessary for electric cars, such as nickel, cobalt, platinum, and copper.
According to a press release from Bluejay:
KoBold’s purpose is to discover and develop new ethical sources of the critical materials for electric vehicles. KoBold’s objective is to make more discoveries of outstanding orebodies by drawing on world-class expertise in exploration geoscience and by developing full-stack exploration technology to use machine learning and other scientific computing techniques to enable highly effective exploration decision-making.
Principal investors in KoBold include Breakthrough Energy Ventures, a climate & technology fund, overseen by Bill Gates, and whose investors include Michael Bloomberg, Jeff Bezos, and Ray Dalio. Other investors in KoBold include Andreessen Horowitz, the premier Silicon Valley venture capital fund and Equinor, the Norwegian state-owned multinational energy company.
“The Disko region has seen the rare convergence of events in earth’s history that could have resulted in forming a world-class battery metal deposit,” said KoBold CEO Kurt House in the release. “We are excited to invest in Greenland’s emerging mineral sector and to partner with Bluejay in light of their strong track record in Greenland and the outstanding potential of the Disko project.”
According to its website, KoBold utilizes artificial intelligence to locate and mine minerals.
The venture comes as regulators increasingly favor electric vehicle manufacturing for its perceived environmental benefits.
The Daily Wire recently reported that the White House hosted executives from General Motors, Ford, and other firms that are attempting to venture into the electric car sector as President Biden unveiled a reversal of “the previous administration’s short-sighted rollback of vehicle emissions and efficiency standards.”
Biden repeatedly praised the United Auto Workers during his comments at the event:
We need automakers and other companies to keep investing in America. We need them not to take the benefits of our public investments and expand electric vehicles and battery manufacturing production abroad. We need you to deepen your partnership with the UAW, continue to pay good wages, support local communities across the country.
That’s why I’m so proud the UAW is standing here today as well. It’s why I am proud that the three largest employers are sitting here and their sights are set not only on electric vehicles, but on expansion — expanding union jobs, expanding the middle class. It matters.
White House Press Secretary Jen Psaki implied that the administration omitted Elon Musk’s Tesla — the largest manufacturer of electric vehicles in the world — from the event because it is not unionized.
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