KoBold Metals

KoBold Metals is a Berkeley-based mining exploration company that uses AI and machine learning to analyze geological data and identify promising locations for critical minerals needed for batteries and clean energy technology.

KoBold Metals was founded in 2018 by Kurt House, along with backing and involvement from prominent technology investors including Bill Gates and Jeff Bezos through their respective investment vehicles, based on the observation that mineral exploration, the process of identifying where valuable mineral deposits such as cobalt, lithium, nickel, and copper are likely located underground before committing to the very expensive process of drilling and testing to confirm a deposit's existence and characteristics, has historically relied heavily on geologists' expert judgment applied to a relatively limited set of traditional geological survey data, a process that KoBold's founders argued could be significantly improved by applying modern machine learning techniques to a much larger and more diverse set of geological, geophysical, and geochemical data. KoBold's core technology uses AI models trained on large datasets combining historical exploration data, satellite and aerial geophysical survey data, and various other geological indicators to generate probabilistic predictions about where valuable mineral deposits are most likely to be found within a broader exploration region, aiming to significantly improve the historically low success rate and high cost of traditional mineral exploration, where the large majority of exploratory drilling programs fail to find an economically viable deposit. This technology has taken on particular strategic importance given the rapidly growing global demand for critical minerals such as cobalt, lithium, and nickel that are essential inputs for electric vehicle batteries and broader clean energy technology, creating urgency around discovering new economically viable mineral deposits to support the accelerating global energy transition without relying entirely on existing supply sources, some of which carry significant geopolitical concentration risk or human rights concerns in certain sourcing regions. KoBold has used its AI-driven exploration approach to identify and advance several significant mineral deposit discoveries, including a major copper deposit in Zambia. The company has raised very substantial venture funding from investors including Andreessen Horowitz, T. Rowe Price, and Breakthrough Energy Ventures, reaching a valuation exceeding $2.9 billion.

News

8/26/2025

KoBold Metals Secures $537 Million to Advance AI-Driven Mining in Zambia

KoBold Metals, led by CEO Mfikeyi Makayi, aims to enhance critical mineral mining for clean energy with significant funding, reducing reliance on China in the EV battery supply chain.

Time Magazine