Copper demand to exceed all past use next decade: Maaden CEO

30/10/2024 Argaam
Robert Wilt, CEO of Saudi Arabian Mining Co. (Maaden)

Robert Wilt, CEO of Saudi Arabian Mining Co. (Maaden)

Robert Wilt, CEO of Saudi Arabian Mining Co. (Maaden), stated that copper demand in the next decade will surpass all prior historical usage.

 

Speaking at the Future Investment Initiative (FII), Wilt noted that Maaden is moving swiftly to cut copper extraction times using artificial intelligence (AI) to meet soaring demand.

 

He explained that exploration to production currently spans 20 years, a timeline Maaden aims to slash to nine years via robotics, thus reducing each stage from months to minutes.

 

Wilt emphasized that Maaden does not focus on short-term profits but rather on long-term investments and partnerships. Despite market volatility, the company is not after fast returns, investing instead in Saudi Arabia’s future.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.