• 4 mintues Texas forced to have rolling brown outs. Not from downed power line , but because the wind energy turbines are frozen.
  • 7 minutes Forecasts for oil stocks.
  • 9 minutes Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 13 minutes European gas market to 2040 according to Platts Analitics
  • 2 hours Simple question: What is the expected impact in electricity Demand when EV deployment exceeds 10%
  • 2 hours America's pandemic dead deserve accountability after Birx disclosure
  • 3 hours Putin blocks Ukraine access to Black Sea after Joe blinks
  • 3 hours U.S. Presidential Elections Status - Electoral Votes
  • 1 hour Today Biden calls for Summit with Putin. Will Joe apologize to Putin for calling him a "Killer" ?
  • 5 days Joe Biden's Presidency
  • 21 hours Fukushima
  • 1 day CO2 Mitigation on Earth and Magnesium Civilization on Mars – Just Add Water
  • 21 hours Biden about to face first real test. Russia building up military on Ukraine border.
  • 4 days New Chinese Coal Plants Equal All those in U.S.A
3 Oil Stocks To Watch This Spring

3 Oil Stocks To Watch This Spring

Oil prices have staged a…

Bill Gates Backed Miner Looks For Cobalt In Canada

KoBold Metals, a start-up backed by a coalition of billionaires led by Bill Gates, plans to scour for cobalt in Canada using advanced mapping technology and it’s targeting northern Quebec, just south of Glencore’s Raglan nickel mine.

The company, founded in 2018, has acquired rights to an area of about 1,000 square kilometres (386 sq. miles), where it plans to begin collecting geophysical data before the end of the year.

KoBold’s backers include big names such as Venture capital firm Andreessen Horowitz and Breakthrough Energy Ventures. The latter is financed by well-known billionaires including Jeff Bezos, Ray Dalio, Michael Bloomberg, Richard Branson and Gates.

KoBold aims to create a “Google Maps” of the Earth’s crust, with a special focus on finding cobalt deposits. It collects and analyzes multiple streams of data — from old drilling results to satellite imagery — to better understand where new deposits might be found.

Algorithms applied to the data collected determine the geological patterns that indicate a potential deposit of cobalt, which occurs naturally alongside nickel and copper.

Chief executive officer Kurt House believes 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,” House told Bloomberg on Tuesday. “It’s just too much for the human brain to handle.”

KoBold’s boss noted the company was likely to begin collecting geophysical data in the next three to six months. Drilling, House said, could start in a couple of years.

The California-based firm also expects to bring in other investors, potentially including its current backers, on a deposit-by-deposit basis. It will also seek mining-savvy partners once it has identified an interesting project.

Not a miner

KoBold, as House has stated multiple times, does not intend to be a mine operator “ever.”

This is not the first time the American start-up eyes Canada. Public records show that Faith in Gravity Holdings Inc., which is registered in British Columbia, staked last year claims in the northeast corner of Saskatchewan.

Related: China Inks Military Deal With Iran Under Secretive 25-Year Plan

The holding company’s directors, according to The Star Phoenix, are Kobold Metals’ top three executives.


Currently, about 65% of the world’s cobalt is mined in the Democratic Republic of Congo, much of it by hand and employing children and young men.

New cobalt mines outside the DRC could become the preferred source of ethically-mined cobalt in the medium-term.

By Mining.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News