Saudi Arabia and Kazakhstan have signed a memorandum of understanding (Mou) aimed at strengthening strategic cooperation in the mining and mineral resources sector.
Minister of Industry and Mineral Resources Bandar Alkhorayef and Kazakh Minister of Industry and Construction Yersayin Nagaspayev signed the agreement during Alkhorayef’s official visit to Kazakhstan.
The MoU provides for the exchange of expertise and knowledge in mineral exploration and the latest exploration technologies and encourages joint mining investments.
It also aims to advance bilateral cooperation across a number of mining-related fields, including exploration, knowledge sharing and the promotion of joint investments, while strengthening partnerships between Saudi and Kazakh companies operating in the sector.
The MoU further seeks to support cooperation in innovation and modern mining technologies, leverage shared expertise to develop mining value chains, and improve the efficiency of exploration and mining operations in a manner that serves the mutual interests of both countries.
The MoU is part of Saudi Arabia’s efforts to expand its international partnerships in the mining and minerals sector and deepen cooperation with countries that possess significant mining potential. It aligns with the objectives of Saudi Vision 2030 and reinforces the Kingdom’s position as a global hub for mining and minerals.
Source: Riyadh Daily