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Zambia has signed a Memorandum of Understanding (MoU) with Saudi Arabia aimed at fostering cooperation in the mineral resources sector, covering the entire mining value chain, including exploration.
The agreement, signed on January 14, 2024, in Riyadh, was formalised on the sidelines of the 2025 Future Minerals Forum, which runs from January 14 to 16.
Mines and Mineral Resources Minister, Paul Kabuswe, and Bandar bin Ibrahim Al-Khorayef, Saudi Arabia’s Minister of Industry and Mineral Resources, signed the MoU on behalf of their respective countries.
The agreement seeks to promote the exchange of knowledge, expertise, and best practices, with an emphasis on joint ventures in exploration, mining, processing, and the development of human capital.
In his remarks after the signing, Minister Kabuswe emphasized that the MoU would unlock new opportunities for investment and growth in Zambia’s mining sector.
He expressed confidence that the agreement would harness Saudi Arabia’s expertise to help Zambia sustainably develop its rich mineral resources.
Minister Al-Khorayef expressed Saudi Arabia’s commitment to partnering with Zambia to build a robust and sustainable mining industry.
“The Government of the Kingdom of Saudi Arabia is pleased to partner with Zambia to drive economic growth for both nations through collaboration and knowledge-sharing,” he said.
The agreement underscored both countries’ dedication to responsible resource development amid increasing global demand for critical minerals.
It also marks Zambia’s proactive approach to strengthening international partnerships to ensure the sustainable growth of its mining industry.
Additionally, the MoU represented a significant step in deepening bilateral ties, creating a pathway to a prosperous future for the mining sectors of both Zambia and Saudi Arabia.
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