According to Mining.com, Kazakhstan-based Solidcore Resources has entered into a joint venture agreement with Minerals Development Oman (MDO) to explore and develop the Khabiyat copper-gold project in Oman. The agreement marks Solidcore’s first exploration venture outside Kazakhstan and represents a significant step in its international growth strategy.
Earn-In Structure Allows Up to 60% Ownership
Under the agreement, Solidcore will acquire its interest in the joint venture through a three-stage earn-in mechanism, beginning with an initial 20% stake and eventually increasing its ownership to 60% upon meeting specified technical and investment milestones.
The phased investment approach is designed to progressively advance exploration while reducing project development risk for both partners.
First Exploration Project Outside Kazakhstan
The Khabiyat project is Solidcore’s first exploration asset outside Kazakhstan and serves as an important gateway for expanding its presence in the Middle East.
Chief Executive Officer Vitaly Nesis stated that the Khabiyat project represents a strategic entry point for the company’s regional expansion and supports its disciplined growth and geographic diversification strategy.
Oman Continues to Attract International Mining Investment
MDO has previously completed extensive exploration work at the Khabiyat project, including:
- Diamond drilling programs
- Geological and geochemical surveys
- Airborne and ground geophysical surveys
- Satellite imagery analysis
These studies have confirmed promising copper-gold mineralization and supported the decision to bring in an international mining partner.
Solidcore’s Strategic Transformation
Formerly known as Polymetal International, Solidcore Resources completed the sale of its Russian assets in 2024 to eliminate sanctions-related risks and subsequently rebranded as Solidcore Resources. Today, it remains Kazakhstan’s second-largest gold producer.
The company has also announced an ambitious growth strategy targeting:
- Doubling annual gold production to 1 million ounces by 2030
- Expanding through acquisitions in Central Asia and the Middle East
- Diversifying into base metals, particularly copper
The Khabiyat copper-gold project aligns closely with these long-term objectives by adding exposure to a prospective copper asset in a mining-friendly jurisdiction.s
[出处 – 上海有色网] 索利德科尔签署协议开发阿曼铜金矿 https://news.smm.cn/news/103997031
