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

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.

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