Reported by: S. Ernest.
Date: 15th January, 2025.
Riyadh, Kingdom of Saudi Arabia.
In a landmark development, Zambia and Saudi Arabia have formalized a Memorandum of Understanding (MoU) to enhance cooperation in the mining sector.
The agreement was signed on 14th January 2025 by Zambia’s Minister of Mines and Mineral Resources, Hon. Paul C. Kabuswe, MP, and Saudi Arabia’s Minister of Industry and Mineral Resources, His Excellency Mr. Bandar bin Ibrahim Al-Khorayef.
The signing took place in Riyadh on the sidelines of the 2025 Future Minerals Forum, which is being held from 14th to 16th January.
The MoU is a strategic initiative aimed at fostering collaboration across the mineral resources value chain.
It outlines plans for potential joint ventures in areas such as exploration, mining, mineral processing, and the development of human capital.
Additionally, the agreement emphasizes the exchange of knowledge, expertise, and best practices between the two nations.
Speaking at the ceremony, Hon. Paul Kabuswe highlighted the significance of the partnership, stating that the MoU creates new opportunities for sustainable investment and growth in Zambia’s mining sector.
He emphasized that Zambia stands to benefit from Saudi Arabia’s extensive expertise in developing its vast mineral resources responsibly.
Echoing these sentiments, His Excellency Mr. Bandar bin Ibrahim Al-Khorayef reaffirmed Saudi Arabia’s commitment to the collaboration.
He expressed confidence that the partnership would bolster the mining sectors of both nations, contributing to their economic growth through mutual cooperation and innovation.
This agreement underscores the dedication of Zambia and Saudi Arabia to responsible and sustainable resource development, particularly at a time of increasing global demand for critical minerals.
It reflects Zambia’s proactive approach to securing international partnerships that will not only advance its mining industry but also strengthen bilateral ties with key global players.
The MoU marks a significant milestone in the relationship between Zambia and Saudi Arabia, paving the way for a brighter, more prosperous future for their respective mining sectors.
Ministry of Mines and Minerals Development-Zambia
Ministry of Foreign Affairs and International Cooperation Zambia
The Agency