Jeff Bezos, Bill Gates, and Michael Bloomberg are amongst the world’s richest billionaires who are funding the mining of critical minerals including Nickle and Cobalt on the west coast of Greenland in a bid to accelerate the green energy transition amidst the growing climate crisis in the region, according to a report by CNN. The island nation is currently facing the melting of ice at an unprecedented rate.
The billionaires are funding Kobold Metals, a California-based mineral exploration startup that is mining minerals to power millions of electric vehicles as per the report. Notably, the California-based company has partnered with Bluejay Mining for the project.
Kurt House, CEO, Kobold Metals, told CNN, “We are looking for a deposit that will be the first- or second-largest most significant nickel and cobalt deposit in the world.” The two areas in Greenland which are witnessing the mining of minerals are Disko Island and Nuussuaq Peninsula. Several geologists, and geophysicists, amongst others, are camped in the area searching for the treasure trove.
Notably, Greenland can soon become a ground zero for sourcing of critical metals, owing to the climate change impact in the region. Meanwhile, the government of Greenland has already done extensive research and assessment regarding the availability of critical metals in the country and has recognized mineral extraction to be a potential option for boosting the country’s economy. Some minerals that are found in the region include coal, copper, gold, rare-earth elements, and zinc.
However, a major concern owing to the climate crisis in the area is higher sea levels owing to vanishing ice.
Nathan Kurtz, a NASA scientist told CNN, “The government of Greenland supports the responsible, sustainable, and economically viable development of their natural resources to include mining of a broad range of minerals.”