en.Wedoany.com Reported - On July 8, Solidcore Resources, Kazakhstan's second-largest gold producer, announced a joint venture agreement with Oman state-owned enterprise Minerals Development Oman (MDO) to jointly explore and develop the Khabiyat Copper-Gold Project in North Al Batinah Governorate, Oman. Under the agreement, Solidcore will acquire up to a 60% stake in the project through three phases, with an initial 20% stake.

This partnership marks Solidcore's first exploration project outside Kazakhstan and a key step in expanding into the Middle East market and diversifying its business. After divesting its Russian operations in 2024, the company has continued to focus on international growth, aiming to increase gold equivalent production to 1 million ounces by 2030, driven primarily by merger and acquisition opportunities in Central Asia and the Middle East, as well as expansion into base metals such as copper.

The Khabiyat Copper-Gold Project is located in North Al Batinah Governorate, Oman, approximately 29 kilometers from Sohar Port. It is a VMS-type volcanogenic massive sulfide deposit primarily containing copper and gold, with an exploration license area of approximately 84.5 square kilometers. The project is currently in the early exploration stage, with no JORC resource estimate or feasibility study completed yet, so key indicators such as mineral resource volume, annual production capacity, and development timeline have not been disclosed.