Billionaires Embark on 'Treasure Hunt' as Greenland Glaciers Melt... "Hundreds of Millions Worth of Resources Buried"

Global Tycoons Provide Financial Support to Mineral Exploration Company
Will Greenland's 'Potential Value' Be Revealed?

The glacier terminus observed in Kangerlussuaq, Greenland.

[Asia Economy Reporter Yoon Seul-gi] As Greenland's glaciers rapidly melt due to global warming, the world's billionaires have begun funding efforts to find mineral resources in the area.

According to a recent CNN report, billionaires including Jeff Bezos, Michael Bloomberg, and Bill Gates believe that beneath the hills and valley surfaces of Greenland's Disko Island and the Nuussuaq Peninsula lie important minerals capable of powering hundreds of millions of electric vehicles.

The media reported that KoBold Metals, a mineral exploration company and California-based startup, is receiving financial support from these billionaires. However, Bezos, Bloomberg, and Gates did not respond to requests for confirmation regarding this matter.

KoBold is collaborating with mining company Bluejay Mining to search for rare minerals and precious metals necessary for manufacturing large-capacity batteries for electric vehicles in Greenland. Kurt House, CEO of KoBold Metals, stated, "We are looking for the world's first or second largest deposits of nickel and cobalt."

Currently, 30 geologists, geophysicists, cooks, pilots, and mechanics are camping on site searching for minerals. They are collecting soil samples and using helicopters equipped with drones and transmitters to measure underground electromagnetic fields and investigate rock layers.

As glaciers melt, land that has been buried under ice for centuries to thousands of years is being exposed, revealing Greenland's potential value. Bo Møller Stensgaard, CEO of Bluejay Mining, said, "It is concerning to witness the consequences and impacts of climate change in Greenland," but added, "However, climate change has generally made exploration and mining in Greenland easier."

According to surveys by the Geological Survey of Denmark and Greenland (GSDG), various mineral resources such as coal, copper, gold, rare earth elements, and zinc are abundant. The Greenland Self-Government has conducted resource assessments on unfrozen land and stated that "mineral extraction recognizes the country's potential to diversify its national economy."

Stensgaard said these important minerals will "offer some solutions to various issues (including environmental ones) posed by the climate crisis."