Solidcore Resources Partners with MDO for Khabiyat Copper-Gold Project in Oman
Solidcore Resources has signed a joint venture agreement with Minerals Development Oman for the Khabiyat project. This partnership marks Solidcore's inaugural exploration initiative outside Kazakhstan, with an initial investment of $8 million aimed at geological exploration.
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Solidcore Resources will acquire a 20% stake in the Khabiyat copper-gold project, with plans to increase ownership to 60% through staged investments. The initial payment of $500,000 and $1.5 million upon completion of the first stage will support a geological exploration program, with a total investment of $20 million planned.
In subsequent stages, Solidcore can acquire an additional 25% and 15% stake respectively. This joint venture represents Solidcore's strategy to diversify its portfolio and expand its regional presence. Given the competitive landscape of mining in Oman, this venture may enhance Solidcore's market positioning and operational footprint.
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