Tuesday 07 / July / 2026
Muscat: Minerals Development Oman (MDO) has signed a strategic partnership agreement with Kazakhstan-based Solidcore Resources, one of Central Asia’s leading gold producers, to explore and develop a copper project in North Al Batinah Governorate.
Under the agreement, Solidcore Resources will earn up to a 60% stake in the project through a phased investment structure tied to the achievement of defined technical and investment milestones, supporting a disciplined approach to exploration and project development.
The project is located within MDO’s Block 11B concession, approximately 29 kilometres from Sohar. Over the past several years, MDO has completed extensive exploration work, including drilling campaigns, airborne and ground geophysical surveys, geological and geochemical studies, and satellite imagery analysis. The results have confirmed promising copper and gold mineralisation of the Volcanogenic Massive Sulphide (VMS) type, together with additional exploration targets across the concession area.
Eng. Mattar Salim Al Badi, Chief Executive Officer of MDO, said the partnership reflects the company's strategy of accelerating the development of high-value mining assets through collaboration with globally recognised mining companies.
"Solidcore Resources was selected following a comprehensive evaluation of its operational track record, technical expertise, and financial strength. This partnership will accelerate exploration and project evaluation while attracting quality investment, strengthening local content, facilitating knowledge transfer, and supporting Oman Vision 2040."
Vitaly Nesis, Chief Executive Officer of Solidcore Resources, described the agreement as the company's first exploration investment outside Kazakhstan, marking a strategic step in expanding its international portfolio.
"Oman offers compelling geological potential and an attractive investment environment. We look forward to working alongside MDO to unlock the project's value and develop it in line with international mining standards."
The next phase of the project will focus on additional drilling and advanced technical studies to upgrade mineral resource confidence and complete the economic assessments required for future development.
The agreement underscores growing international confidence in Oman's mining sector and supports MDO's strategy to attract international investment, accelerate project development, and position the Sultanate of Oman as a regional hub for the mining and minerals industry.
