KoBold Metals, a mining company startup backed by billionaires Bill Gates and Jeff Bezos, is optimistic about discovering valuable energy transition metals. Notably after uncovering a significant copper deposit in Zambia using AI technology.

In an interview with CNBC, President Josh Goldman expressed investors' excitement, emphasizing the company's mission to identify mineral resources crucial for the energy transition. 

"They are feeling delighted about this news because this is what we set out to do. The point of the company is to discover, find and develop mineral resources that we need for the energy transition," Goldman remarked.

Using AI technology to create a treasure map, KoBold Metals aims to pinpoint new deposits of copper, lithium, cobalt, and nickel in various countries. Over 60 exploration projects are underway. 

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While talking to CNN, Goldman underlined how AI technology made them confident in finding key metals for renewable energy. Mentioning the support from Bill Gates and Jeff Bezos, the KoBold Metals CEO also clarified that all their money is well-spent on exploration.

In addition to Gates and Bezos, venture capital firms like Andreessen Horowitz and Breakthrough Energy support mining company startups.

For now, KoBold Metals is concentrating on its Mingomba project in Zambia, expecting copper production within a decade and eyeing further mineral discoveries. 

Zambia's renowned copper belt offers promising prospects, with high-grade deposits like Mingomba reducing the need for extensive mining, thereby minimizing environmental impact.

With these milestones, Goldman envisions KoBold Metals becoming a public company in the next few years. It aims to revolutionize mineral exploration while prioritizing environmental sustainability.

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