Precious Metals
Kazakh gold miner Solidcore signs first exploration venture in Oman
Kazakh gold miner Solidcore Resources COREK.AIXN has entered a joint venture agreement with state-owned Minerals Development Oman to explore and develop the Khabiyat copper-gold project in Oman, it said on Tuesday.
Solidcore can acquire an up to a 60% stake in the venture in three stages, starting with 20%.
The Khabiyat project is the company's first exploration venture outside Kazakhstan and supports its growth and diversification strategy.
"The Khabiyat project represents an important entry point for the company's further expansion in the region," CEO Vitaly Nesis said.
After selling its Russian business in 2024 to eliminate sanctions-related risks, Solidcore remains Kazakhstan's second-largest gold producer.
Also in 2024, it said it aimed to double output to 1 million ounces of gold equivalent by 2030, driven by M&A opportunities in Central Asia and the Middle East and diversification into base metals.
(Reporting by Anastasia Lyrchikova; Editing by Barbara Lewis)
Related Articles
Investigation uncovers fraudulent identity documen...
10 Sep, 2024 08:08
The Top Five Gold-Producing Countries in Africa in...
10 Sep, 2024 08:46
AngloGold notes ‘enormous geological potential’ in...
10 Sep, 2024 09:29
Awalé Resources expands BBM gold zone at Odienné p...
10 Sep, 2024 11:38
Proposed amendment: Gold mines to be subject to th...
10 Sep, 2024 12:39
Pan African Resources Annual Result Improves; Expe...
12 Sep, 2024 07:42
African countries are joining the sovereign gold-b...
12 Sep, 2024 08:07
Platinum Group Metals Ltd. Announces Positive Inde...
16 Sep, 2024 09:11
At least 20 likely dead in violence near Papua New...
16 Sep, 2024 10:37