January 2, 2025:
KoBold Metals Secures $527M for AI Mining Innovation - KoBold Metals, a Berkeley-based startup using AI for mineral exploration, has raised $527 million in Series C funding led by T Rowe Price and Durable Capital Partners. The company focuses on discovering metals crucial for renewable energy, such as copper, lithium, nickel, and cobalt, and invests over $100 million annually on more than 70 global projects to identify new deposits.
The funding will help develop existing projects, including a significant copper find in Zambia, and expand their team of data scientists and geoscientists. KoBold also plans to go public in three to five years.
