Saudi Arabia to ramp up copper mining to meet rising global demand
Copper demand is expected to explode as governments and companies worldwide try to meet ambitious net zero targets. Saudi Arabia is positioned well to take advantage.
To:
Al-Monitor Pro Members
From:
Afshin Molavi
Senior Fellow, Johns Hopkins School of Advanced International Studies
Date:
Jan. 6, 2023
Bottom Line:
In order to meet ambitious net zero targets pledged by governments and companies worldwide, copper demand is expected to explode given its vital role as a key conductor metal for a wide range of renewable energies from electric batteries to wind farms and more. Saudi Arabia’s deposits, coupled with government resolve to develop its mining sector, positions the kingdom well to benefit from the enormous rise in copper demand expected over the next two decades and beyond. A new mining law unveiled in 2021 with flexible terms and rapid license processing will attract more international firms to the Saudi market.
