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Billionaires Bezos, Bloomberg, Gates, & Dalio Partner On Greenland EV-Mineral-Mining JV

Tyler Durden's Photo
by Tyler Durden
Tuesday, Aug 10, 2021 - 01:25 PM

Was Trump right (again) after all?

In August 2019, President Trump was ridiculed for reportedly expressing an interest in buying Greenland

“Greenland is a strategic place… they’ve got a lot of valuable minerals,” he explained in August 2019, and he was right: Danish surveys have found that the owner of the island would stake a claim to around 900,000 sq km of the continental shelf in the Arctic Ocean.

As we noted at the time, there is also - not surprisingly - a race for supremacy with China over the island's future. So far, Washington has prevented Beijing from financing three airports on Greenland that would give it a toehold on the strategically important island - which is also the world's largest by square mileage - something the US military refuses to risk. And though it has vast natural resources across its 811,000 square miles, Greenland relies on $591 million of subsidies from Denmark annually, which makes up about 60% of its annual budget.

Greenland quickly rebuffed Trump saying "we're not for sale."

But now it appears Greenland is more open to the idea as a group of American billionaires have teamed to form a joint venture to mine the nation's trillion-dollar resources for rare natural resources required for electric vehicle battery production.

Bluejay (BLLYF), an exploration and development company with projects in Greenland and Finland, has signed a joint venture agreement with KoBold Metals, at the Company's Disko-Nuussuaq nickel, copper, cobalt, platinum magmatic massive sulphide project in Central West Greenland.

KoBold's purpose is to discover and develop new ethical sources of the critical materials for electric vehicles. KoBold's objective is to make more discoveries of outstanding orebodies by drawing on world-class expertise in exploration geoscience and by developing full-stack exploration technology to use machine learning and other scientific computing techniques to enable highly effective exploration decision-making.

Principal investors in KoBold include Breakthrough Energy Ventures, a climate & technology fund, overseen by Bill Gates, and whose investors include Michael Bloomberg, Jeff Bezos, and Ray Dalio. Other investors in KoBold include Andreessen Horowitz, the premier Silicon Valley venture capital fund and Equinor, the Norwegian state-owned multinational energy company.

Kurt House, CEO of KoBold, said:

"We are excited to invest in Greenland's emerging mineral sector and to partner with Bluejay in light of their strong track record in Greenland and the outstanding potential of the Disko project."

So, instead of American taxpayers reaping the potential benefits (as per Trump's strategy), the billionaire elites will get richer and control more of this critical resource.

All of which leaves us with one simple question - what does this group of billionaire elites know? Is this them front-running the 'great reset'?

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