Jack Ma-linked startup scours Greenland for EV battery materials

Kobold Metals to partner with mining company as climate concerns mount

Certain parts of Greenland's west coast, above, have geology similar to Russia's Norilsk region, a major producer of nickel and palladium. © Reuters

DING YI and LU YUTONG, Caixin

August 14, 2021 16:30 JST

A mineral exploration startup linked to Alibaba founder Jack Ma will partner with a mining company to hunt for EV-battery raw materials in Greenland, as automakers barrel toward an all-electric future amid mounting climate concerns.

Kobold Metals has signed a joint venture agreement with BlueJay Mining, in which Kobold will hold a 51% stake and BlueJay 49%, according to a joint statement released on Monday.