Saudi Arabia’s Minister of Industry and Mineral Resources Mr. Bandar bin Ibrahim Al-Khorayef and Turkish Minister of Energy and Natural Resources Mr. Alparslan Bayraktar have signed a memorandum of understanding (MoU) for cooperation between the two ministries in the mining sector.
The MoU intends to enhance cooperation between the two sides by exchanging expertise in the field of mineral exploration services, laboratories, drilling techniques, and geological services. The deal includes mineral investments and the cooperation required for cutting-edge technology, solar panels and electric cars. The MoU was signed during Mr. Al-Khorayef’s current official visit to Turkey.
Turkish Minister Mr. Bayraktar said in a statement that “the deal paved the way for wide-scale cooperation between the two countries in mining, particularly in related mutual investment.”
The MoU also seeks to facilitate the transfer of knowledge, expertise, projects, and initiatives related to exploring critical mineral supply chains. Moreover, the MoU encourages supporting the private sector companies of Saudi Arabia and Turkey to jointly invest in the mining sector and discuss enhancing partnerships between the private sector and mining authorities in the two countries.
According to the statement, “Aspects of cooperation between the Saudi and Turkish sides are identified by the MoU, especially with regard to research and development, clean mining technologies, resource efficiency and substitution, and other related technologies.”
In July 2023, Saudi Arabia discussed means of cooperation in the fields of economy, urban development, city planning, and general development with ministers and officials of the Turkish government.
