Saudi Arabia’s Ma’aden is planning to look outside of the country for opportunities in copper and other base metals including zinc, the company’s chief executive officer said.
Although there is sizeable potential to create a copper business within Saudi Arabia, this will take longer than the company would like, according to Darren Davis.
“We think the Kingdom has prospectivity particularly in copper, but we’re some years away from finding something really transformative. We need to be global in more than just marketing, so we’ll look very carefully at opportunities to invest outside of the country,” he told delegates at the 25th Mining Indaba in Cape Town, South Africa, on February 4-7.
“We love copper and think it’s a great mineral to be in, and we will look selectively outside of the country to invest, including in Africa,” Davis added.
He did not specify whether this will take the form of...