Among the world’s richest males, together with Jeff Bezos and Invoice Gates, are funding an enormous treasure hunt, full with helicopters and transmitters, on the west coast of Greenland.

The local weather disaster is melting Greenland down at an unprecedented charge, which — in a twist of irony — is creating a possibility for traders and mining corporations who’re trying to find a trove of essential minerals able to powering the inexperienced power transition, CNN reported.

The band of billionaires, which additionally embrace Michael Bloomberg, amongst others, is betting that beneath the floor of the hills and valleys on Greenland’s Disko Island and Nuussuaq Peninsula there are sufficient essential minerals to energy lots of of thousands and thousands of electrical autos.

“We’re searching for a deposit that would be the first- or second-largest most important nickel and cobalt deposit on the planet,” Kurt Home, CEO of Kobold Metals, advised IB Reporter.

The Arctic’s disappearing ice — on land and within the ocean — highlights a novel dichotomy: Greenland is floor zero for the impacts of local weather change, but it surely may additionally turn into floor zero for sourcing the metals wanted to energy the answer to the disaster.

The billionaire membership is financially backing Kobold Metals, a mineral exploration firm and California-based startup, the corporate’s representatives advised CNN.

Kobold is partnered with Bluejay Mining to seek out the uncommon and valuable metals in Greenland which are obligatory to construct electrical autos and large batteries to retailer renewable power.

Thirty geologists, geophysicists, cooks, pilots and mechanics are camped on the web site the place Kobold and Blujay are trying to find the buried treasure.