Bill Gates-Backed Company to Hunt for Cobalt Near Glencore Mine – by Jack Farchy (Bloomberg News – July 7, 2020)

https://www.bnnbloomberg.ca/

(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.

For the rest of this article: https://www.bnnbloomberg.ca/bill-gates-backed-company-to-hunt-for-cobalt-near-glencore-mine-1.1461562#:~:text=Bill%20Gates-Backed%20Company%20to%20Hunt%20for%20Cobalt%20Near%20Glencore%20Mine,-Jack%20Farchy,%20Bloomberg&text=(Bloomberg)%20–%20A%20startup%20backed,mine%20owned%20by%20Glencore%20Plc.

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