KoBold Metals specializes in mineral exploration, using advanced computational methods and artificial intelligence to discover essential materials for sustainable energy. Founded in 2018 and investing over $100 million annually, the company operates more than 70 projects across five continents. Their focus lies in identifying and extracting critical battery materials, including cobalt, nickel, lithium, and copper. The company’s distinctive approach combines geoscience, extensive data analysis, and proprietary tools to optimize mineral discovery. Their framework, the Epistemology of Exploration, prioritizes data uncertainty quantification to enhance exploration success rates.
Battery Technology
KoBold Metals’ technological foundation centers on three principal systems that transform traditional mineral exploration for battery materials. Their Machine Prospector platform applies machine learning algorithms to analyze geological data sets, significantly improving the accuracy of mineral deposit identification. This system processes historical drilling results, satellite imagery, and various geological indicators to create precise underground mapping models.
The TerraShedSM software suite complements this approach by integrating multiple data streams to evaluate potential mining sites. This tool specifically targets areas likely to contain high concentrations of battery-essential minerals like cobalt, nickel, and lithium. The company’s technology stack includes proprietary algorithms that assess geological formations and predict mineral concentrations with increased precision.
KoBold Metals maintains strict environmental and ethical standards throughout their exploration process. Their methods minimize environmental impact while maximizing the likelihood of discovering viable deposits of battery materials. This systematic approach has proven particularly effective in identifying new sources of materials essential for electric vehicle battery production.
Recent Projects
In early 2024, KoBold Metals secured $537 million in Series C funding, achieving a $2.96 billion valuation. The company announced plans to begin drilling at the Dumbwa copper prospect in Zambia in early 2025, while advancing exploration at the Konkola West Project. They are also developing infrastructure for copper production at the Mingomba project, demonstrating their commitment to expanding mineral discovery operations across Africa.
Investors
KoBold Metals has attracted significant investment from prominent backers, including Bill Gates’ Breakthrough Energy Ventures, Jeff Bezos, and Andreessen Horowitz. Recent funding rounds brought in new investors such as Durable Capital Partners LP, T. Rowe Price Funds, and WCM Investment Management. Additional supporters include Equinor, Mitsubishi Corporation, and Standard Investments, providing the company with substantial resources to advance their mineral exploration initiatives.
Business Details
Location: Berkeley, California, USA
Website: https://koboldmetals.com
LinkedIn: https://www.linkedin.com/company/35437007
