Altman-Backed KoBold Starts Work on Zambia’s Top Copper Mine

KoBold Metals, the exploration company backed by billionaires including Bill Gates and Sam Altman, officially broke ground on what will be Zambia’s biggest copper mine as the global hunt for critical minerals heats up.

The Mingomba mine will cost more than $2.3 billion to build, making it one of the biggest ever investment projects in the southern African nation. It will eventually produce more than 300,000 tons of the metal a year, ranking it among the continent’s top sources.