KoBold Metals Discovers Copper Deposit in Zambia

KoBold Metals, a mining start-up that uses artificial intelligence, has discovered a vast copper deposit in Zambia. The company's Mingomba copper project is expected to be one of the world's biggest high-grade large copper mines, with a potential comparable to that of the Kakula mine across the border in the Democratic Republic of Congo. The company is targeting its first output early next decade and aims to build a $2 billion facility, with a focus on projected long-term shortages of materials like cobalt, nickel, and lithium. KoBold's shareholders include Breakthrough Energy Ventures backed by Bill Gates and Jeff Bezos, and the company is using AI technology to optimize exploration for copper and cobalt at Mingomba.