MDO Partners with Solidcore Resources to Boost Copper Exploration: What This Means for Investors and Entrepreneurs in Oman
MUSCAT, JULY 7 — Minerals Development Oman (MDO) has entered into a strategic partnership with Kazakhstan-based Solidcore Resources, a leading gold producer in Central Asia, to explore and develop a copper project in North Al Batinah Governorate.
The agreement enables Solidcore Resources to acquire up to a 60 percent stake in the project through a phased investment plan linked to the completion of specific technical and financial milestones. This structured approach aims to ensure disciplined exploration and development.
The project is situated within MDO’s Block 11B concession, about 29 kilometers from Suhar. Over recent years, MDO has conducted extensive exploration activities, including drilling programs, airborne and ground geophysical surveys, geological and geochemical analysis, and satellite imagery studies. These efforts have confirmed promising copper and gold mineralization characteristic of Volcanogenic Massive Sulphide (VMS) deposits, alongside additional exploration targets within the concession area.
Eng Mattar bin Salim al Badi, CEO of MDO, emphasized that the partnership aligns with the company’s strategy to accelerate the development of high-value mining assets by collaborating with internationally recognized mining firms.
“Solidcore Resources was chosen after a thorough evaluation of its operational performance, technical expertise, and financial capacity. This partnership will fast-track exploration and project assessment, attract quality investment, enhance local content, facilitate knowledge transfer, and support Oman Vision 2040,” he stated.
Vitaly Nesis, CEO of Solidcore Resources, described the agreement as the company’s inaugural exploration investment outside Kazakhstan, marking a strategic move to broaden its international portfolio.
“Oman’s strong geological potential and favourable investment climate present significant opportunities. We look forward to collaborating with MDO to unlock the project’s value and develop it according to global mining standards,” Nesis said.
The upcoming phase will concentrate on further drilling and advanced technical studies aimed at upgrading mineral resource confidence and completing economic evaluations necessary for future development.
This partnership highlights growing international confidence in Oman’s mining sector and supports MDO’s goal of attracting foreign investment, accelerating project progress, and positioning Oman as a regional mining and minerals hub.
Minerals Development Oman SAOC is a closed joint-stock company established under Omani Commercial Companies Law, with a strategic mission to unlock the country’s mining potential by investing in and enabling projects across various commodities and value chains.
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This strategic partnership between Minerals Development Oman and Kazakhstan’s Solidcore Resources signals a significant boost for Oman’s mining sector, highlighting its potential as a regional hub for mineral development. For businesses, this opens opportunities in investment, technology transfer, and local content growth, while investors should consider the increasing international confidence and evolving regulatory environment aligned with Oman Vision 2040. Smart entrepreneurs can leverage this momentum to explore ancillary services and value chain integration within Oman’s expanding copper and gold mining landscape.
