The first week of the new year has started as expected, with a rather calm atmosphere in the commodity world, where Artificial Intelligence may soon play an increasingly significant role. Yet, China flexed its market power, floating possible new export restrictions.
KoBold Metals: Half A Billion for AI-Powered Exploration
Mining startup KoBold Metals, supported by prominent investors like Bill Gates and Jeff Bezos, has secured $537 million in its latest funding round, bringing the company’s valuation to nearly $3 billion, according to the Financial Times. KoBold uses artificial intelligence to sift through historical data and scientific models to identify potential untapped mineral deposits.
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China Mulls New Export Restrictions on Battery Technologies, Critical Minerals
The Chinese government has announced plans to expand its list of export-restricted items. In a notice issued Thursday, the Ministry of Commerce revealed the possible inclusion of various technologies related to the production of lithium batteries, as well as the refining of lithium and gallium. The ministry will seek opinions from stakeholders and the public until February.
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