Bill Gates-backed company to hunt for cobalt near Glencore mine

House said exploration in Quebec was one of a number of activities that Kobold Metals was pursuing.
Image: Bloomberg

A startup backed by a group of tycoons including Bill Gates plans to use data-crunching algorithms to search for cobalt near a Canadian nickel mine owned by Glencore Plc.

Kobold Metals has acquired rights to an area of about 1,000 square kilometers (386 square miles) — roughly the size of New York City — in northern Quebec, according to Chief Executive Officer Kurt House. It’s the first such foray by the company to become public.

San Francisco Bay Area-based Kobold Metals is hoping to use data analytics to build a “Google Maps for the earth’s crust.” The company is betting it can find metals crucial to the electric-vehicle revolution, such as cobalt, that so far have eluded more traditionally-minded geologists.

House said the company’s exploration activities at the site in Quebec could help prove the value of its approach.

“The subtleties in the geophysical signals are really only evident when you have all of the data and can evaluate it in a systematic, statistically rigorous way,” he said. “It’s just too much for the human brain to handle.”

He said that the company was likely to start collecting geophysical data in the next three to six months, and could start drilling in a couple of years. The area, just south of Glencore’s Raglan nickel mine, is “highly prospective” for cobalt, nickel and platinum-group metals, House said.

Shareholders of Kobold Metals include Silicon Valley venture capital firm Andreessen Horowitz, Norwegian oil major Equinor ASA and Breakthrough Energy Ventures, a fund backed by Gates and a dozen other tycoons including Jeff Bezos, Ray Dalio and Michael Bloomberg, owner of Bloomberg LP, the parent company of Bloomberg News.

House said exploration in Quebec was one of a number of activities that Kobold Metals was pursuing, including forging partnerships with mining companies to help identify ways to expand their existing resources.

© 2020 Bloomberg

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I would hope that Mr Gates, with his philanthropic personality, will also ensure that no child labour is used in these mines, should they ever reach production.

I doubt Canada allows child labour

Yip, it’s not Africa!

No … not in Canada.

This disgusting liberal HYPOCRITE raping the soil (in Africa) mining Cobalt for use in Lithium batteries (and polluting the Earth with its toxic extraction processes), so that the Woke Libtards in California can drive their EV’s with smug Virtue signalling…

Please read the article with understanding and comprehension.

Seems Cobalt is becoming more popular with green energy and electric cars. You can reduce the amount of Cobalt in batteries but the risk of fire increases.

Glencore is big in the Cobalt market. Did they not buy more land last year also?

The Glencore mine referred to in the above article (Raglan), is actually a Ni-Cu deposit with some cobalt.
I suspect these clever guys are looking for the same style of mineralization. It is worth looking at the website. More PhDs than UCT and an average age of about 25.

End of comments.





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