“The Potential is limitless”: Ivanhoe Mines’ Robert Friedland excited by Arabian Shield Opportunities

Speaking in advance of the landmark Future Minerals Summit (FMS) in Saudi Arabia, the founder and executive chairman of Ivanhoe Mines Ltd, Robert Friedland, has spoken of his excitement at the development of the largely unexplored, mineral-rich Arabian-Nubian Shield (ANS) region. He described the forthcoming Summit as "very important" for the mining sector generally.


On the back of his confirmed participation at FMS in Riyadh, Robert Friedland was interviewed last week about one of its themes: defining a new mining hub in the Middle East, Central Asia, and North and East Africa.
He said: “We think the [Arabian Shield’s] potential is limitless for diamonds, rare earth, lithium, copper, gold and other minerals we haven't even thought about. It's big. It's unexplored, and it's blessed by cheap energy, at the bottom of the world cost curve, with new infrastructure, and proximity to markets.”
The Ivanhoe Group concentrates on regions where it can make "super-large discoveries" because of a lack of previous exploration. Friedland has been involved in 59 countries over the past 20 years, and describes Saudi Arabia's mineral potential as "enormous". Because of the recent positive change in government policy, Friedland said he "couldn't be more excited about what is happening in the Kingdom", and that "Ivanhoe would love to be part of it".

Friedland also believes there is potential in the south of the Craton in Oman and Yemen, and across the fault into North Africa.

FMS is a meeting of senior political and business leaders to address issues facing the global mining industry. Convened for Riyadh on January 11-13, 2022, the themes also include a focus on mining's contribution to society and on advancing the industry through technology and innovation.

The Kingdom's Vice-Minister of Mining Affairs, His Excellency Khalid Al-Mudaifer, told the recent Mines and Money (M&M) conference in London that his country wanted to play a part in "reimagining the mining sector" and showcase the ANS as a "new frontier for mining". This part of the world, he said, will play a "vital role in meeting the exponential growth in global demand for the critical minerals needed in a low-carbon society".
KSA's Ministry of Industry and Mineral Resources has confirmed that mining-company leaders at FMS, in addition to Friedland, will include the CEOs of Barrick Gold and Alcoa, Mark Bristow and Roy Harvey, and the chairman of Fortescue Metals, Andrew Forrest. Numerous other industry leaders attending include Jeremy Weir, Jeffrey Dawes and Rohitesh Dhawan, the CEOs of Trafigura, Komatsu Mining and the International Council on Mining and Metals (ICMM) respectively.

The Summit in Riyadh will play an important part in driving home the message that mining is part of the solution to cutting the world's carbon emissions, and that unexplored mineralized regions can, and should, be opened up to deliver the necessary raw materials.

About the future minerals summit

Event Dates: 11-13 January 2022, Riyadh, Saudi Arabia
The Future Minerals Summit is an international initiative convened by Saudi Arabia and dedicated to advancing mining and unlocking opportunity across the Middle East, Central Asia, and North and East Africa.

Under the patronage of the Custodian of the Two Holy Mosques King Salman Bin AbdulAziz Al Saud, the Future Minerals Summit will convene the global mining industry and those invested in its future to a conversation about the Middle East, North and East Africa and Central Asia and its potential to attract investment and grow the sector in line with international sustainability standards.
The Future Mining Summit is your gateway to a new and emerging mining hub across countries that hold a huge potential for mining investors.
The 3 day event is projected to attract more than 2,000 attendees, 150 investors, 100 global speakers, 100 mining corporates and 15 ministers and heads of state from more than 95 countries.

Source: Ivanhoe Mines

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