00:00 It's Benzinga and here's what's on the block.
00:02 Kobold Metals, backed by billionaires Bill Gates and Jeff Bezos,
00:05 says it's discovered a vast copper deposit in Zambia at its Mingomba copper project.
00:09 Kobold believes Mingomba will be one of the world's largest high-grade copper mines,
00:13 comparing it to the giant Kamoa Kakula mine in size and grade.
00:16 Zambia is Africa's second-largest copper producer after the Democratic Republic of the Congo,
00:20 and this discovery could significantly boost the country's economic prospects.
00:24 Kobold aims to start copper production at the mine within 10 years to help meet growing
00:28 demand for copper in renewable energy and EVs. Major investors also include Andreessen Horowitz,
00:32 Equinor, BHP, and Bill Gates Breakthrough Energy Climate Fund.
00:35 For all things money, visit Benzinga.com.
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