Veteran mining entrepreneur Robert Friedland said modern warfare and growing demand for weaponry had “dramatically” altered the landscape for metals demand — and that the west was unprepared for the shift.
Rising defence spending and military conflicts, from Ukraine to Kashmir, have exposed critical shortages of traditional materials such as copper, which is essential for ammunition, and niche metals such as graphite and germanium used in advanced weapons systems.
Friedland, who co-chairs Ivanhoe Mines, said western governments had belatedly “woken up” to their vulnerability after decades of neglect, adding that it would “change dramatically what we need to mine”.
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