Billionaires’ Backed KoBold Metals on Global Hunt for Lithium
KoBold Metals, with endorsements from figures like Bill Gates and Jeff Bezos, ventures across four continents in pursuit of lithium reserves.
The California-based startup, employing AI-driven exploration methods, expands its search for this vital metal—integral to electric vehicles and cutting-edge technology.
CEO Kurt House revealed KoBold’s endeavor to uncover lithium in South Korea, Canada (Quebec), the United States, Australia, and Africa.
The company, previously focused on nickel and copper, now adds lithium to its mining interests following successful explorations in Canada and Zambia.
“By harnessing the insights from our lithium experts, KoBold aims to produce enough lithium to power millions of electric vehicles in the next decade,” House emphasized.
The firm recently identified a potential lithium prospect in the Baie James region in Canada, previously deemed barren. KoBold’s strategic aim is to bridge the lithium supply gap, especially for the $5 trillion electric vehicle market.
In Africa, KoBold’s plans extend to Namibia’s lithium exploration and upcoming initiatives in the Democratic Republic of Congo. Concurrently, the company conducts exploration activities in South Korea, Australia, and the US.
KoBold’s journey in seeking battery metals commenced in Canada three years ago. It acquired exploration rights in Quebec, detecting lithium close to Glencore’s Raglan nickel mine.
Currently, with exploration assets globally, including joint ventures with BHP and BlueJay Mining, KoBold aims to map the Earth’s crust akin to “Google Maps.”
Leveraging AI algorithms, KoBold scrutinizes varied data streams, from historic drilling records to satellite imagery, to pinpoint potential deposits—unearthing minerals such as copper, cobalt, nickel, and lithium that traditional methods might overlook.
Despite a recent plunge in lithium prices due to oversupply and slower EV growth, KoBold’s quest remains resolute, harnessing technology to navigate a dynamic market and shape the future of clean energy.
