Riyadh, Saudi Arabia – January 15, 2025 – In a significant step towards strengthening bilateral relations in the mining sector, Zambia and Saudi Arabia have signed a Memorandum of Understanding (MoU) on Cooperation in Mineral Resources. The agreement was formalized on January 14, 2025, during the Future Minerals Forum in Riyadh, Saudi Arabia, which runs from January 14 to 16, 2025.
The MoU was signed by Zambia’s Minister of Mines and Mineral Resources, Hon. Paul Kabuswe, MP, and Saudi Arabia’s Minister of Industry and Mineral Resources, His Excellency Mr. Bandar bin Ibrahim Al-Khorayef. This partnership aims to enhance collaboration across the entire mineral resources value chain, including joint ventures in exploration, mining, processing, and human capital development. It also promotes the exchange of knowledge, expertise, and best practices to foster sustainable growth in the sector.
Following the signing, Hon. Paul Kabuswe emphasized that this agreement will unlock new investment opportunities and leverage Saudi Arabia’s expertise to sustainably develop Zambia’s rich mineral resources.
Similarly, His Excellency Mr. Bandar bin Ibrahim Al-Khorayef expressed Saudi Arabia’s commitment to partnering with Zambia in building a robust and sustainable mining industry, promoting economic growth for both nations through collaboration and knowledge-sharing.
This agreement marks a new chapter in Zambia-Saudi Arabia relations, reinforcing both countries’ commitment to responsible mining, investment, and technological advancement in the sector.
Source: Embassy of the Republic of Zambia, Riyadh, Kingdom of Saudi Arabia