KoBold Metals, a mining startup backed by billionaires including Bill Gates and Jeff Bezos, is bullish on the discovery potential of some of the most sought-after energy transition metals.
"They are feeling delighted about this news because this is what we set out to do. The point of the company is to discover, find and develop mineral resources that we need for the energy transition," Goldman said via videoconference. The point of the company is to be serially successful in exploration — and to improve exploration success overall and to decrease the capital intensity of discovery.KoBold Metals is now focusing on advancing its Mingomba project in Zambia, which it expects to start producing copper within 10 years, and discovering the next trove of critical minerals, according to Goldman.
"That means that you have to mine a lot less rock in order to get the same amount of copper," Goldman said.