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Bill Gates-Backed Mining Company Is Silicon Valley’s Newest Unicorn

KoBold Metals raises $200 million to dig for copper, lithium using AI

A drill rig in Zambia’s Mingomba deposit, where KoBold Metals recently acquired copper reserves.
A drill rig in Zambia’s Mingomba deposit, where KoBold Metals recently acquired copper reserves. Photo: KoBold Metals

Some of the tech industry’s most prominent investors are doubling down on one of Silicon Valley’s latest unicorns: a mining startup.

Berkeley, Calif.-based KoBold Metals, which explores for metals such as copper, lithium and cobalt using artificial intelligence, is raising around $200 million in a fundraising round, said co-founder and Chief Executive Kurt House. 

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