Climate change especially due to Global Warming is melting the ice-covered Greenland which is an issue of concern to humanity and our planet as a whole. But Billionaires have spotted an opportunity amid the global issue. Some of the richest men in the world are funding exploration of the West coast of Greenland for critical minerals capable of generating green energy transition.
Big names such as Jeff Bezos, Michael Bloomberg, and Bill Gates, among others, are betting that there is an abundance of critical minerals below the surface of Greenland’s Disko Island and Nuussuaq Peninsula.
These minerals, if found, will be enough to generate power for millions of electric vehicles, according to some Billionaires.
“We are looking for a deposit that will be the first- or second-largest most significant nickel and cobalt deposit in the world,” Kurt House, CEO of Kobold Metals, told CNN.
The billionaire club is financially backing, a mineral exploration startup, Kobold Metals, a company representative said.
Kobold is partnered with Bluejay Mining to find the rare and precious metals in Greenland that are essential to building electric vehicles and huge batteries to store renewable energy. Thirty geologists, geophysicists, cooks, pilots, and mechanics are present in the area where Kobold and Blujay are searching for the minerals.
“It is a concern to witness the consequences and impacts of climate changes in Greenland,” Bluejay Mining CEO Bo Møller Stensgaard, told CNN. “But, generally speaking, climate changes overall have made exploration and mining in Greenland easier and accessible.”
Stensgaard said that since environmental change is making ice-free periods in the sea longer, groups can send in heavy hardware and ship out metals out to the worldwide market all the more without any problem.
Melting ice around Greenland has made it simpler for the mining industry to ship in and out materials.
“As these trends continue well into the future, there is no question more land will become accessible and some of this land may carry the potential for mineral development,” Mike Sfraga, the chair of the United States Arctic Research Commission, told CNN
“The government of Greenland supports the responsible, sustainable, and economically viable development of their natural resources to include mining of a broad range of minerals,” Sfraga said.
