Billionaire-backed KoBold Metals plans new Zambian copper mine within a decade
CALIFORNIA-based KoBold Metals, whose backers include billionaires Bill Gates and Jeff Bezos, said it aims to start producing copper and cobalt at a project in Zambia within 10 years. KoBold is spending about $150 million to accelerate its search for more deposits at the Mingomba project, located along the fabled African copper belt. The additional studies will be completed in 2024, said Mfikeyi Makayi, the Zambian CEO of the Silicon Valley start-up. "It's a very attractive project and we have said within a decade we would want Mingomba to be a producing mine," Makayi told Reuters. Bill Gates. Photo: Jean-Luc David/Flickr…