Something unprecedented is unfolding in the mining sector…
Big Tech and Mining are on an unstoppable collision course — potentially triggering a capital tsunami in the process. And it’s already underway with a major move.
So, let’s get right into it…
Berkeley-based KoBold Metals is leading the charge, raising an astonishing $195 million from prominent investors, rocketing the startup’s valuation to a staggering $1.15 billion. Names like Andreessen Horowitz and Breakthrough Energy Ventures, backed by visionaries like Bill Gates and Jeff Bezos, are all part of the mix.
KoBold is anything but your average mining company. The true marvel lies in their revolutionary fusion of Artificial Intelligence and the untapped potential of alternative energy sources.
They’re leveraging cutting-edge AI to unearth critical battery metals — cobalt, copper, nickel, lithium —from the earth’s crust.
And That’s Just The Tip of The Iceberg
This newly-funded mining prodigy is all set to tap into an untouched copper reservoir in Zambia, backed by a hefty $150 million investment.
Spanning continents with over 60 ongoing exploration projects, KoBold is turning the tables on traditional mining techniques.
KoBold’s CEO, Kurt House, shared:
“The success rates of finding new deposits have been declining… It’s hard to see how we’ll get sufficient discoveries without breakthroughs in technology.”
Well, the breakthrough is here, and it’s kicking off the major intersection between mining and tech companies in search of net zero metals.
In fact, earlier this year,
- General Motors GM invested $650 million into Lithium Americas, and
- Mercedes-Benz MBGAF inked a contract with another lithium supplier.
Tech + Mining = Uncharted Waters
AI has been shaking up the mining industry for years now. It’s not just a buzzword — it’s the reality of today’s high-tech world.
Take Freeport-McMoRan FCX for example…
Back in 2018, they put AI to the test at their Bagdad mine in Arizona. The results? By employing AI systems to evaluate capacity levels at their mill, they managed to increase their copper output by a staggering 9,000 metric tons. Incredible.
And then there’s Rio Tinto Group RIO …
This mining powerhouse isn’t just dabbling in AI, they are embracing it wholeheartedly. They’ve crafted digital twins of their mines, allowing them to test decisions in a virtual environment before bringing them to life in the real world.
But it doesn’t stop there. By merging AI with analytics, machine learning and automation, Rio Tinto has supercharged its productivity.
They’re now able to use AI to assess data generated by everything from drills and trucks to conveyors and ships.
This is just the tip of the AI iceberg in the mining industry, and it’s exciting to think about what breakthroughs are around the corner.
Major tech companies will get involved with mining and energy too. And it’s only just began.
This disruptive tech-mining amalgamation is summoning a financial deluge of unprecedented proportions.
As S&P Global reports… “Artificial intelligence could be the key to locating the next sources of tomorrow’s materials.”