Billionaires fund a massive treasure hunt in Greenland. Here's why

A gigantic treasure hunt with helicopters and transmitters is being funded by some of the richest men in the world, including Jeff Bezos and Bill Gates, off the west coast of Greenland. According to CNN, the climate catastrophe is melting Greenland at an unprecedented rate, which, in an ironic turn of events, is opening up opportunities for investors and mining firms looking for a treasure trove of essential minerals capable of powering the switch to green energy.

The group of billionaires, which also includes Michael Bloomberg, is betting that there are enough essential minerals beneath the hills and valleys on Greenland's Disko Island and Nuussuaq Peninsula to power hundreds of millions of electric vehicles.

What people are searching for is the first or second-largest and most important nickel and cobalt deposits in the world.

The Arctic's melting ice, both on land and in the water, illustrates a peculiar paradox: Greenland is the epicentre of climate change's effects, yet it also has the potential to be the source of the metals required to power the crisis's solution.

According to Kobold Metals' officials, the billionaire club is providing financial support to the California-based startup's mineral exploration business.

In order to locate the rare and precious metals in Greenland required to construct electric vehicles and enormous batteries to store renewable energy, Kobold has teamed with Bluejay Mining. Kobold and Blujay's camp is where thirty geologists, geophysicists, cooks, pilots, and mechanics are encamped while looking for the hidden wealth.

(With inputs from agencies)
 

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