KoBold Metals, a mining startup supported by high-profile billionaires Bill Gates and Jeff Bezos, is confident about its capability to locate valuable energy-shift metals. Using artificial intelligence, the California-based firm has developed a useful mechanism to find new deposits of key components like copper, lithium, cobalt, and nickel.
Josh Goldman, the company’s president, feels optimistic about the opportunities presented by Zambia; according to him, it is teeming with valuable yet-uncovered resources. This belief was recently validated by a significant copper acquisition in Zambia, a discovery that has been considered among the world’s most impressive ore bodies.
The rare copper deposit was found with the help of AI-created treasure maps, specifically designed to aid in the search for coveted metal reserves. Currently, KoBold holds over 60 exploration-stage projects across several nations. Established in Silicon Valley, the company offers a successful solution to reducing the capital intensity a byproduct of resource exploration.
Significant supporters of the startup include venture capitalist firm Andreessen Horowitz, Norway’s largest energy group, Equinor, mining industry leader BHP, and Breakthrough Energy, a technological fund established by Bill Gates back in 2015. Prominent financiers include renowned business figures like Richard Branson, Jack Ma, and Ray Dalio.
KoBold’s focus now is on its Zambia-based Mingomba project, which is estimated to begin copper production within a decade. The firm is also committed to continuing its discovery of critical mineral resources. Copper, a key component in renewable energy infrastructure, energy storage systems, and electric vehicles, is in particularly high demand, further accentuating the importance of the company’s mission.
The potential for new discoveries is considered high given the average grade of most mined copper of around 0.6, in contrast to Mingomba’s copper ore grades that exceed 5. This suggests the possibility of mining less rock to acquire the same quantity of copper, making the process environmentally friendlier.
