A mineral exploration company called KoBold Metals, which is backed by such prominent figures as Bill Gates, Jeff Bezos, and Mike Bloomberg, has entered a joint venture with Bluejay Mining to source materials used in electric vehicles.
According to Reuters, KoBold, which “uses artificial intelligence and machine learning to hunt for raw materials,” is going to fork out some $15 million on exploring the Disko-Nuussuaq project located on Greenland’s west coast in exchange for a 51 percent stake in said project.
"The license holds metals such as nickel, copper, cobalt and platinum,” with the funding provided being expected to cover “evaluation and initial drilling," the media outlet reports.
Commenting on this development, Bluejay Mining CEO Bo Steensgaard said the agreement is “transformative” for his company.
"We are delighted to have a partner at the pinnacle of technical innovation for new exploration methods, backed by some of the most successful investors in the world," he added.
Many social media users, however, are not particularly happy with this situation, arguing that the mining effort might harm the environment in Greenland, while calling out the billionaires for their "greed."