KoBold Metals, a start-up led by Bill Gates, plans to use advanced mapping techniques to search for cobalt in northern Quebec, Canada, south of Glencore's Raglan nickel mine. SMM7, March 8 / PRNewswire-FirstCall-Asianet /-
The startup, founded in 2018, has secured about 1000 square kilometers of land use rights and plans to start collecting geophysical data by the end of the year.
KoBold aims to create a "Google map" of the earth's crust and focuses on discovering cobalt deposits. It collects and analyzes a variety of data streams (from old drilling results to satellite images) to better understand potential new deposits, and cobalt is often present in nature with nickel and copper.
The investors behind KoBold include venture capital firms Andreessen Horowitz and Breakthrough Energy Ventures. The latter is funded by famous billionaires such as Jeff Bezos,Ray Dalio,Michael Bloomberg,Richard Branson and Gates.
The California-based company also hopes to attract more investors as it gradually discovers the mine.
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