Billionaires are funding massive mineral hunt in Greenland


Jeff Bezos, Bill Gates, Michael Bloomberg and other billionaires are on a mission to find treasures in Greenland as the ice shelf melt. The billionaires are funding a massive treasure hunt in anticipation of finding important minerals and other treasures.

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Their expedition capitalizes on the ongoing climate change crisis amidst the massive melting. A recent study on the status of Greenland’s ice reserves found that the ice shelves were melting at a rate faster than in the last 12 millennia. Those who are hunting for treasures in the region believe that the ice sheets might have been holding and sitting on some valuable minerals.

Related: Greenland ice sheet melting faster than in the last 12 millennia

The billionaires are in pursuit of a group of critical minerals that are capable of powering the green energy transition. They are already funding researchers for the analysis of soils below the surface of the hills and valleys on Greenland’s Disko Island and Nuussuaq Peninsula.

“We are looking for a deposit that will be the first or second-largest most significant nickel and cobalt deposit in the world,” said Kurt House, CEO of Kobold Metals, reported by CNN.

The loss of ice for the massive ice storage in the world is a concerning matter. For the longest time, experts have used Greenland’s ice loss as ground zero for the study of the impacts of climate change. Now, billionaires now target ice loss as an opportunity to hunt for new minerals.

Kobold Metals a mineral exploration company based in California has been at the forefront of exploring these regions. The company has received strong backing from the billionaires club. While the company has confirmed the matter, the billionaires are yet to respond to these speculations.

At the moment, Kobold and Blujay are already funding a team of 30 geologists and geophysicists that are camped on the site in search of minerals. The experts are collecting soil samples and flying drones and helicopters with transmitters to get signals for new minerals. 

“It is a concern to witness the consequences and impacts from the climate changes in Greenland,” said Bluejay Mining CEO Bo Møller Stensgaard. “But, generally speaking, climate changes overall have made exploration and mining in Greenland easier and more accessible.”

While they are raking in the money on supposedly toward green energy, Greenland’s ice will potential disappear in 20 to 30 years at this rate.

Via CNN

Lead image via Pexels



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