AI-Backed Startup Makes Major Copper Discovery in Zambia with Plans to Supply Booming EV Industry
• KoBold Metals, an AI-backed mining startup, has struck a major copper discovery at its Mingomba site in Zambia after a year of mining operations.
• The deposit is being compared to the highly productive Kakula copper mine in the DRC in terms of size and grade.
• KoBold is backed by high-profile investors like Bill Gates and Jeff Bezos through Breakthrough Energy Ventures.
• The company is focused on supplying battery metals like copper and lithium to meet long-term demand from the EV industry.
• KoBold plans to invest over $100 million in exploration this year and is weighing building a $2 billion processing facility at Mingomba.