VI
EN
The climate crisis is causing Greenland to melt at an unprecedented rate, creating opportunities for investors and mining companies to seek out a vital mineral resource that could power the green energy transition.
A group of billionaires, including Jeff Bezos, Michael Bloomberg, and Bill Gates, among others, are betting that beneath the surface of the hills and valleys on Greenland's Disko Island and the Nuussuaq Peninsula lie enough critical minerals to power hundreds of millions of electric vehicles.
Greenland is known for its abundance of minerals.
According to Kobold Metals, a California-based mining startup, it is partnering with Bluejay Mining to search for rare earth metals in Greenland needed for the manufacture of electric vehicles and high-capacity batteries for renewable energy storage. Representatives from Kobold Metals also stated that they have received financial support from a group of the world's wealthiest billionaires. Jeff Bezos, Michael Bloomberg, and Bill Gates have not yet responded to the information.
Kurt House, CEO of Kobold Metals, told CNN: "We are looking for some of the world's largest reserves of nickel and cobalt."
Bluejay Mining employees are digging during the exploration of key minerals in Greenland.
Greenland is an autonomous country belonging to Denmark, located near the Arctic Circle and is the world's largest island, covering over 2 million square kilometers and with a population of approximately 57,000 people. Three-quarters of Greenland's area is covered by permafrost.
Approximately 30 geologists, geophysicists, cooks, pilots, and mechanics are camped at the site where Kobold and Blujay Mining are collecting soil samples, measuring the surface's electromagnetic fields, and mapping the underlying rock layers. They are also using artificial intelligence to analyze the data in order to pinpoint the exact drilling locations needed for mineral extraction in early summer.
Kobold Metals workers in Greenland
The Danish and Greenland Geological Survey has indicated that Greenland may have large reserves of coal, copper, gold, rare earth elements, and zinc. The Greenlandic government recognizes the region's potential to diversify the national economy through mineral exploitation.
However, the disappearance of Greenland's ice, which is pushing sea levels higher, is a major concern for Arctic scientists.
The melting sea ice around Greenland has made it easier for the mining industry to transport equipment and materials out of the area.
Nathan Kurtz, a NASA scientist who studies sea ice, told CNN: “The big concern with Arctic sea ice is that it’s been disappearing for the last few decades. In the fall, what used to be year-round Arctic ice cover will now just be seasonal ice cover.”
