Africa: Bill Gates and Jeff Bezos invest $537 million in KoBold rare metals

|Published 3:00 PM ET, Monday February 17, 2025|

Billionaires Bill Gates and Jeff Bezos have invested $537 million in KoBold Metals, a U.S.-based mining startup leveraging artificial intelligence to locate critical minerals in Africa.

This investment is directed at KoBold Metals, a startup that utilizes artificial intelligence to discover and develop deposits of key minerals such as copper, cobalt, and lithium—essential for the global energy transition.

Why Africa?

Africa holds vast, largely untapped reserves of rare earth metals crucial for electric vehicle batteries, renewable energy storage, and high-tech manufacturing. By investing in KoBold Metals, Gates and Bezos are strategically positioning themselves in the global supply chain for these critical resources.

Key Developments:

Zambia Discovery: KoBold recently identified a major copper deposit in Zambia, reinforcing the region’s potential to become a top supplier.

AI-powered Exploration: The company’s data-driven approach accelerates the search for valuable mineral deposits more efficiently than traditional methods.

Geopolitical Significance: The investment diversifies global supply chains, reducing reliance on China, which currently dominates the rare metals market.

This funding signals a wider trend of deep-pocketed investors targeting sustainable resource extraction in Africa, aiming to secure the minerals that will power the next era of technology and clean energy.