According to Kurt House, CEO of KoBold Metals, the reason billionaires like Bezos and Gates are funding a treasure hunt in Greenland is to identify important minerals that can be used to power millions of electric vehicles.
In an effort to locate critical metals beneath the melting ice of the island country, some of the wealthiest men in the world are supporting a “treasure hunt” in Greenland.
Iceland’s glaciers are melting at a previously unheard-of rate, a paradoxical result of climate change. Mining corporations and investors think there is a gold mine of metals and minerals beneath the ice that can fuel the green revolution and end the climate catastrophe. The thawing ice has made it possible to uncover potential mining areas that had previously been hidden for generations.
To identify important minerals that can be used to power millions of electric vehicles, KoBold Metals has the support of billionaires like Bill Gates, Jeff Bezos, and Michael Bloomberg.
“We are looking for a deposit that will be the first- or second-largest most significant nickel and cobalt deposit in the world,” Kurt House, CEO of KoBold Metals, told CNN.
For the “treasure hunt” in Greenland, Bluejay Mining has teamed up with the mining exploration company from California.
At the moment, 30 members of the crew—geologists, geophysicists, pilots, mechanics, and cooks—are camped out at a location where they want to look for rare and precious metals. According to CNN, the crew is studying the subsurface using transmitter-equipped helicopters and drones.
The team will next use artificial intelligence to analyze data to decide where they will start digging, potentially as soon as next summer.
“It is a concern to witness the consequences and impacts from the climate changes in Greenland,” Bluejay Mining CEO Bo Moller Stensgaard told CNN. “But, generally speaking, climate changes overall have made exploration and mining in Greenland easier and more accessible.”
Nickel, cobalt, and lithium are utilized in the production of EV batteries, and the demand for EVs is on the rise.