KoBold Metals Raises $192.5 Million to Use AI to Find Battery Minerals
... KoBold says it uses AI to guide where to procure land, what data to collect, and where to drill. It has collected publicly available data from company disclosures and government sources, as well as historical information from companies it partners with. Its algorithms then crunch that data in search of patterns. ...
KoBold aims to change the mind-set of an industry that has long relied heavily on sampling soil and sediment and drilling holes in the ground to determine whether areas contain valuable minerals. While the company still leans on those techniques, it hopes to limit the chances of failure by drawing on machine learning and other scientific computing techniques. ...
Some other miners including Anglo American PLC and technology-focused companies are also looking at how artificial intelligence might allow minerals to be found more easily, but those efforts haven’t yet led to many big discoveries of critical commodities. ...
See the full story here: https://www.wsj.com/articles/kobold-metals-raises-192-5-million-to-use-ai-to-find-battery-minerals-11644472801
