Red Sea mining is needed to quench worlds thirst for metals: Mining company chief

The so-called ‘Arabian Shield’ is the perfect place to explore in the quest to find much-needed minerals and metals, a leading mining businessman has said.

Speaking at the Future Minerals Forum in Riyadh, Mark Bristow, president and CEO of Barrick, called for more investment in the mining industry from governments across the world.

But he warned that investors need to understand that returning to “safe jurisdictions” such as the US and Europe will not provide the supplies needed, particularly in copper.

Bristow said that the geological region known as the Arabian Shield — which takes in areas in numerous countries in the Middle East and North Africa including Saudi Arabia, Egypt and Jordan — is the “perfect place to explore and it is only being explored superficially.”

He added that the world is “in a long solid market demand for metals”, and said: “Copper is the most challenging in terms of supplier, we have no investor, we have been behind as an industry in investing in the whole mining minerals business.”

The Future Minerals Forum is a special event bringing together ministers, organisations and mining leaders from more than 30 countries.

Hosted by the Saudi Ministry of Industry and Mineral Resources, is aimed at highlighting the role of mining in Saudi Vision 2030, after the government identified it as the third pillar of the Kingdom’s economy.