The rapid melting of glaciers due to the climate crisis has mobilized the world's richest names.
A group of multibillionaires, including Jeff Bezos, Michael Bloomberg and Bill Gates, is investing billions of dollars to the hills and valleys of Greenland's Disko Island and Nuussuaq Peninsula, where the glaciers on its surface are swiftly melting. The goal is to obtain critical minerals that can power the green energy transition.
California-based "KoBold Metals" and "Bluejay Mining" have already begun their search.
Kurt House, CEO of KoBold Metals, which uses artificial intelligence (AI) and machine learning to hunt for raw materials, told CNN reporters that the billionaire club provides financial support to the company during their search for nickel, copper, cobalt and platinum. He also stated that the region is the first or second most important in the world in terms of its nickel and cobalt potential.
Teams consisting of 30 geologists, geophysicists, cooks, pilots and mechanics take soil samples, flying drones and helicopters with transmitters to measure the electromagnetic field of the ground and map the rock layers below. They are using AI to analyze the data on determining where to drill, which could start as early as next summer.
Bo Moller Stensgaard, CEO of Bluejay Mining, also spoke to CNN and said: "It is alarming to witness the consequences and impacts of climate changes in Greenland. Yet, this situation has made exploration and mining processes easier and more accessible in general."
Stensgaard also claimed that crews can more easily ship heavy equipment and metals to the global market as navigating in ice-free waters is simple. He also noted that these critical minerals will provide solutions to meet the challenges presented by the climate crisis.
Scientists expect glaciers in Greenland to potentially disappear in 20 to 30 years. As the glaciers melt, only the seasonal snow will remain.
The ice glacier in Greenland is the second largest of the world and is the biggest contributor to global sea level rise.