If the DC supply is grounded, and all the metal is properly bonded, then a fault between the cable and the drum will cause fault current to flow, and OCPD will likely open. Ball bearing generally make pretty good electrical contact at more than a few volts. At the contact points the grease layer is very thin if present at all.
However the fact that _bonding_ through the bearings will _probably_ work doesn't make it a good idea. Current flow through bearings is a great way to destroy them. First in a ball bearing the areas of contact between the races and balls are very small, so you can have intense local heating. Additionally, you should have at least some grease layer, which can cause micro-arcing and pitting of the balls or races.
Now, if as SG-1 mentions, your DC supply is not grounded, then a ground fault won't cause much current flow, and won't trip OCPD. SG-1 is also making an important distinction: you probably don't really want to _ground_ this drum, but instead you want to _bond_ this drum back to the source of electrical supply. Since most supplies are in fact grounded, this bonding will also result in grounding the drum. The key is that if you were to somehow ground this drum without also bonding it back to the source, you would actually create significant safeyt issues.
-Jon