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While artificial intelligence (AI) is improving the developed countries globally, a new report suggests that the industry’s growing popularity could usher in new-found wealth for developing nations, such as Zambia.
Zambia is poised for a fresh capital injection in the coming years, with mining companies angling for a piece of the country’s copper reserves. Currently, it produces only 4% of the copper used globally, but the figure is set to rise given the integration of AI in the mining process.
KoBold Metals is leading the charge in Zambia’s mining ecosystem, with the tech-focused firm announcing a ground-breaking copper finding in the African country. KoBold Metals disclosed that the discovery, made using AI-based exploration techniques, could generate as much as 300,000 tons of copper annually.
Since the discovery, several research firms have corroborated the importance of using AI in mining, pushing mining enterprises to embrace emerging technologies in their operations.
The fresh find of copper deposits would add billions of dollars to Zambia’s gross domestic product (GDP), with conservative estimates pegging the value at $2.2 billion annually. Several global mining operators are expected to join KoBold Metals in the South African nation, injecting capital for infrastructure, licensing and hiring locals.
However, mining the copper will be challenging for KoBold Metals, which is seeking to develop a copper mine in Zambia worth around $2.3 billion. For all the fanfare associated with the discovery, KoBold Metals’ mine is not expected to be operational until 2030.
The discovery is expected to have ripple effects, with copper demand soaring at unprecedented levels since AI went mainstream. The metal is required to create electric vehicles, telecommunication systems, renewable energies and develop data centers to support cloud-based generative AI systems.
Budding AI arms race
Since generative AI became mainstream, several countries and entities have been utilizing raw materials needed to gain an edge in the ecosystem. China has tightened the rules on exporting gallium and germanium, metals integral to the creation of AI chips.
At the moment, China controls 80% of the global gallium supply, forcing Western and European nations to find new sources for the metal. The U.S. has imposed a ban on chip manufacturers to prevent the sale of high-end AI chips to China and several Middle Eastern nations to protect its national sovereignty.
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Watch: Transformative AI applications are coming
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