Mubasher: Saudi Arabia's mineral potential is considered enormous, due to the recent positive change in government policy, Founder and Executive Chairman of Ivanhoe Mines, Robert Friedland, remarked in a recent press release.

Friedland said: “[I] couldn't be more excited about what is happening in the Kingdom,” adding that “Ivanhoe would love to be part of it."

Ahead of the Future Minerals Summit (FMS), which will be held during 11-13 January 2022 in Saudi Arabia, Friedland described the event as “very important” for the mining sector, in general.  

As for the development of the largely unexplored mineral-rich Arabian-Nubian Shield (ANS) region, which includes parts of Saudi Arabia, Egypt, Jordan, as well as African countries, Friedland noted that the ANS’ potential is “limitless for diamonds, rare earth, lithium, copper, gold, and other minerals.”

He described ANS region as big, unexplored, and blessed by cheap energy, in addition to being “at the bottom of the world cost curve, with new infrastructure, and proximity to markets.”

Friedland, who has been involved in 59 countries over the past two decades, said he sees potential in the south of the Craton in both Oman and Yemen, and across the fault into North Africa.

The official said these remarks during an interview about one of FMS’ themes: defining a new mining hub in the Middle East, Central Asia, and North and East Africa.