The world’s richest billionaires are investing in the search for critical minerals in the melting icebergs of Greenland.
The climate crisis is causing the massive icebergs of Greenland to melt at an unprecedented rate. However, this presents an opportunity for investors and mining companies to seek new minerals that could power the transition to green energy.
Greenland – an autonomous territory of Denmark and the largest island in the world – is located in the Arctic climate zone. Approximately 56,000 people live here across an area of over 2 million square kilometers, with 80% covered in ice.
Greenland is a hotspot for mineral extraction. (Photo: Unsplash).
A group of billionaires including Jeff Bezos, Michael Bloomberg, Bill Gates, and others are betting that beneath the surface of the Disko Island hills and the Nuussuaq Peninsula in Greenland lie enough minerals to power hundreds of millions of electric vehicles.
Specifically, this billionaire club is financially backing Kobold Metals, a California-based mining startup. This company is collaborating with Bluejay Mining to search for rare metals in Greenland that are essential for manufacturing electric vehicles and large batteries for storing renewable energy.
The billionaire group and mining units are in the exploration phase. (Photo: CNN).
Currently, 30 geologists, geophysicists, chefs, pilots, and mechanics are camping at the site where Kobold and Bluejay Mining are taking soil samples, measuring the electromagnetic field of the surface, and mapping the underlying rock layers.
They are also utilizing artificial intelligence to analyze data to accurately determine drilling locations for mineral extraction starting early next summer.
A representative from Kobold Metals stated that they have received financial support from the group of the world’s richest billionaires. Billionaires Jeff Bezos, Michael Bloomberg, and Bill Gates have not yet responded to inquiries regarding this information.
According to the Geological Survey of Denmark and Greenland, Greenland could be a hotspot for coal, copper, gold, rare earth elements, and zinc. The Greenland government recognizes the potential of the region to diversify the national economy through mineral extraction.
However, the disappearing ice of Greenland, which is causing sea levels to rise, poses a significant concern for scientists studying the Arctic.
