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The wealthiest people in the world are currently investing enormous sums of money in scouring the Greenland West Coast for vital resources. To begin their “treasure hunt,” the businessmen used aircraft and transmitters.
The ice sheets in Greenland have begun to melt at astounding speeds as global temperatures rise. Ironically, the phenomenon has given businesses and mining corporations a chance to investigate any potential riches hidden beneath the Greenland ice sheets. They asserted that the region might contain important minerals supporting nations’ transitions to green energy.
Bill Gates, Michael Bloomberg, Jeff Bezos, and a host of other wealthy people are certain that the Nuussuaq Peninsula and Disko Island in Greenland contain minerals that may power “hundreds of millions” of electric vehicles.
The CEO of Kobold Metals, Kurt House, said, “We are looking for a deposit that will be the first- or second-largest most significant nickel and cobalt deposit in the world.”
On the one hand, the regions where the ice sheets are melting might be the epicenter of climate change’s effects, but they might also be the epicenter of important metals. On the other hand, according to experts, the outsourced materials may be able to resolve countries’ power difficulties if investors’ suspicions are right.
Many of the billionaires interested in the project have partnered with Kobold Metals, a mineral exploration company based in California. Gates, Bloomberg, and Bezos all declined to comment. Bluejay Mining is also involved, assisting Kobold Metals in the search for precious materials necessary for producing efficient electric vehicles and batteries in which renewable energy can be stored.
Thirty specialists, including geophysicists, geologists, cooks, mechanics, and pilots, are working with Kobold Metals and Bluejay Mining to discover what they are looking for.
Current progress of the project
The crew assigned to the area is currently collecting soil samples as well as measuring the electromagnetic field of the subsurface using drones and helicopters fitted with transmitters. They might then create a layout of what lies beneath the surface using the measurements. To choose where to begin drilling next summer, the team would use artificial intelligence technology to build a model of the subsurface.
“It is a concern to witness the consequences and impacts of the climate changes in Greenland. But, generally speaking, climate changes overall have made exploration and mining in Greenland easier and more accessible,” stated Bluejay Mining CEO Bo Møller Stensgaard.
The extended ice-free periods, according to Stensgaard, enable their crews to finish shipments that contain large pieces of equipment for usage and export the metals they hope to discover nearby.
“As these trends continue well into the future, there is no question more land will become accessible, and some of this land may carry the potential for mineral development,” said Mike Sfraga, the chairman of the United States Arctic Research Commission.
Government of Greenland does not have any problem with exploration
“The government of Greenland supports the responsible, sustainable, and economically viable development of their natural resources to include mining of a broad range of minerals,” Sfraga added.
The Geological Survey of Denmark and Greenland predicted that Gold, Copper, Coal, Zinc, and other Rare Elements might be found in abundance in Greenland. The administration of Greenland “recognizes the potential of the country to diversify the national economy through mineral extraction,” the agency added.
Meanwhile, the Greenland government has conducted its own assessments, and they have no objections to the crew camping near the melting sheets.
On the other hand, experts are concerned about the rising sea levels brought on by the melting of ice sheets.
“The big concern for Arctic sea ice is that it’s been disappearing over the last several decades it’s predicted to potentially disappear in 20 to 30 years. In the fall, what used to be Artic ice cover year-round is now just going to be seasonal ice cover,” said Nathan Kurtz, a NASA scientist.
Opinions expressed by US Insider contributors are their own.