Why billionaires like Bezos, Gates are funding ‘treasure hunt’ in Greenland

Some of the world’s richest men are funding a ‘treasure hunt’ in Greenland, hoping to find critical metals beneath the island country’s melting ice.

The glaciers of Iceland are melting at an unprecedented rate – an effect of climate change that has presented a unique paradox. Mining companies and investors believe that beneath the ice, there is a treasure trove of minerals and metals that can power the green revolution and solve the climate crisis. For the first time ever, the melting ice has made it possible to explore potential mining sites that had otherwise remained buried for centuries.

Billionaires like Bill Gates, Jeff Bezos and Michael Bloomberg are therefore backing KoBold Metals and its mission to find critical minerals that can be used to power millions of electric vehicles.

"We are looking for a deposit that will be the first- or second-largest most significant nickel and cobalt deposit in the world," Kurt House, CEO of KoBold Metals, told CNN.