Original title: how hot is it upstream of the battery? Gates, Bezos and Dario formed a group to dig the mine.

This article is from Wind Information

In August 2019, then US President Donald Trump expressed to the media his intention to buy Greenland because the island "has a lot of valuable minerals".

In 2021, a group of American billionaires realized part of Trump's wish: to form a group to dig mines in Greenland! Trump once explained:

"Greenland is a strategic location and they have a lot of valuable minerals."

However, Greenland disapproved of Trump's "acquisition intention" and made it clear that it would not sell ("we're not for sale.")

When the time comes to 2021, Trump has already left office, and Greenland is more open-minded.In the latest news, US billionaires, including Bill Gates, Dario, Bezos and Bloomberg, have formed a joint venture to exploit trillions of dollars worth of Greenland's resources. to obtain the rare natural mineral resources needed for the production of electric car batteries.

These billionaires are involved in the mining and utilization of minerals in Greenland by setting up venture capital companies. Specifically, it is invested in the climate and technology fund KoBold Metals, which is overseen by Bill Gates.

The main objectives of the Fund are to discover and develop key materials for electric vehicles, to develop full-stack exploration techniques by using world-class exploration geoscience expertise, and to achieve efficient exploration decisions by using machine learning and other scientific computing techniques, resulting in the discovery of more outstanding orebodies.

In addition to Bill Gates, Dario, Bezos and Bloomberg, KoBold Metals's other investors include Andreessen Horowitz, Silicon Valley's leading venture capital fund, and Equinor, a Norwegian state-owned multinational energy company.

KoBold Metals has signed a joint venture agreement with Bluejay, a company with exploration and development projects in Greenland and Finland. Bluejay's Disko Nuussuaq, located in west-central Greenland, has chemical businesses such as nickel, copper, cobalt and platinum.

KoBold Metals's CEO Kurt House said of the partnership:

"given Bluejay's good performance in Greenland and the outstanding potential of the Disko Nuussuaq project, we are pleased to work with Bluejay and to invest in Greenland's emerging minerals."

In short, in the once-in-a-century energy upheaval, American billionaires have been one step ahead of others to seize the upstream resources of new energy batteries.

About KoBold Metals

KoBold Metals, reorganized in 2021, is recognized by the World Economic Forum as a technology and energy pioneer, one of the 100 most promising private companies selected by CB Insights Global Intelligence, and the only mineral resources company to receive this honor.

About Bluejay

Bluejay holds several licenses covering an area of 2897 square kilometers. Bluejay has several projects in Greenland and Finland, the most advanced of which is the Dundas Ilmenite ilmenite project in Greenland. Bluejay also has two projects in Greenland, one is the Kangerluarsuk zinc lead and silver project, and the other is the 2025 square kilometer Thunderstone project, which may contain large base metals and gold deposits.

The main contents of the Agreement between Bluejay and KoBold Metals

Under the agreement, KoBold Metals will obtain 51 per cent of the licenses held by Disko Nuussuaq through two stages of revenue commitments.

The first phase: advanced geological and geophysical assessment of Disko Nuussuaq using KoBold Metals's proprietary technology, with a separate investment of US $3.4 million to refine the drilling target by December 31, 2022.

Phase II: as of December 31, 2024, KoBold Metals alone contributed $11.6 million in drilling costs, or 15 pre-agreed drilling holes in the Disko Nuussuaq licensed area, while Bluejay could maintain its 49 per cent stake through pro rata contributions.

Phase III: commitment that after Phase II, Bluejay is a recognized and respected partner of the Greenland community, stakeholders and regulators, and will manage on-site operations until 2024.

If KoBold Metals completes the first phase but fails to complete the second phase commitment within the agreed time, then 2.0% of the equity control of the joint venture will be owned by Bluejay.