Greenland, US billionaire club funds cobalt research (as ice disappears)

Funding

– According to the American newspaper, these investors are financing the

Kobold Metals

, a US-based mining exploration company based in California. The contribution to research in Greenland would be approximately 15 million dollars. The goal is to control those deposits of precious metals useful for the electricity industry, which are coming to light with the melting of the ice.

Where metals are sought

– The Kobold Metals project sees thirty people including geologists, geophysicists, helicopter pilots, mechanics and cooks camped in the area of ​​the hills and valleys of the island of Disko and the Nuussuaq peninsula. These lands could become crucial for the acceleration towards the

energy transition

: as reported in the Cnnthese mineral deposits would be enough to power hundreds of millions of electric vehicles and massive batteries that store power.

Why are we looking for metals

– There are obviously global geopolitical interests at stake. Western governments engaged in the green transition are fearful of China’s control over the supply chains of certain metals. In fact, Beijing holds 72% of the reserves of cobalt, a rare mineral used mainly in electronic equipment and in the production of batteries for electric cars.

China-Congo relations

– As international analysts explain, the Chinese monopoly is based on the ownership of a large part of the mines in Congo, through a system that brings together apparently non-repayable loans for the African country, exploitation rights of the fields, the presence of Chinese technicians and workers , as well as export and maritime transport control.

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The role of Indonesia

– Not only Congo: China is now also targeting Indonesia. In fact, Beijing is studying a path of diversification of the cobalt supply chain, turning to the authorities in Jakarta. In recent months, the Chinese Huayou Cobalt announced its intention to invest 1.28 billion dollars for the extraction of the precious mineral in Indonesia.

The confirmation of Kobold Metals

– The United States does not want to stand by and watch. And in this sense Greenland, thanks to the melting of the ice, could help. “We are looking for a nickel and cobalt deposit, which will be the first or second most significant in the world,” she confirmed at the Cnn Krt House, CEO of Kobold Metals.

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