Bill Gates and Jeff Bezos-backed startup discovers large-scale copper deposit in Zambia – by Sam Meredith ( – February 5, 2024)

KoBold Metals, a California-based metals exploration company backed by billionaires including Bill Gates and Jeff Bezos, said it has discovered a vast copper deposit in Zambia.

The rare discovery of a large-scale copper deposit could help in the global race to secure a supply of materials critical to the energy transition. Copper is in high demand due to its use in renewable energy and electric vehicles.

A spokesperson for KoBold Metals told CNBC on Monday that the company believes its Mingomba copper project in Zambia “will be one of the world’s biggest high-grade large copper mines.”

“It is Kakula-scale in size and grade,” KoBold Metals President Josh Goldman said in a statement shared on the firm’s account on social media site X. The giant Kamoa-Kakula copper mine is situated just across Zambia’s northern border in the Democratic Republic of the Congo.

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