Mineral exploration company KoBold Metals, backed by billionaires including Jeff Bezos and Bill Gates, has signed an agreement with London-listed Bluejay Mining (JAY.L) to search in Greenland for critical materials used in electric vehicles.
KoBold, which uses artificial intelligence and machine learning to hunt for raw materials, will pay $15 million in exploration funding for the Disko-Nuussuaq project on Greenland’s west coast in exchange for a 51% stake in the project, Bluejay said in a statement.