Artificial intelligence and the future of mining

A California-based AI venture indicates a way forward for budget constrained mining majors and small caps

Though its data centres are burning ever more of the world’s energy, Silicon Valley is usually associated with somewhat more ethereal ventures than mining operations in some of the world’s most remote locations.

But KoBold Metals signposts new directions both for the Valley and the mining industry, developing AI-driven software that promises to identify deposits of transition metals and minerals such as copper, cobalt lithium and nickel that are difficult and costly to find through traditional geological techniques.

Since emerging five years ago the company has attracted headlines through its backing by tech luminaries including Jeff Bezos, Andreessen Horowitz Growth, Earthshot Ventures and Bill Gates’ Breakthrough Energy Ventures fund. It also has partnerships with traditional mining operators, including London-listed BHP and Norway’s national energy company Equinor.