“Copper is such a strategic metal” and it “without a doubt” faces supply challenges in the coming years, Barrick Gold CEO Mark Bristow said at a mining conference in Saudi Arabia.
There’s been too little investment in the red metal and that’s already a problem for the sector as consumption rises, he said.
“We’re in for a long solid market demand for metals."
The Toronto-based company digs up copper in the west of the kingdom in a joint venture with the state miner Maaden.
“This is the first time I’ve seen the country reaching out and trying to form partnerships,” Bristow said. “It’s a great first step.”