The governments of Saudi Arabia and Japan have signed a memorandum of cooperation (MoC) to expand cooperation in the mining and mineral resources sector.
The Saudi government announced on December 25 that the agreement had been signed in Riyadh. Image: Saudi Arabia Ministry of Industry and Mineral Resources
The MoC agreement was signed in Saudi capital city Riyadh by Saudi Arabia's minister for industry and mineral resources Bandar AlKhorayef and Japan's minister for economy, trade and industry Ken Saito.
The non-binding agreement covers three areas: exchanging relevant experiences related to mining and mineral resources; establishing joint training programmes, exchanging professional visits and technical experts; and opportunities to establish joint investments in the fields of mining and mineral resources.
Saudi Arabia has a wide range of mineral resources including high-grade silica sand, limestone and marble. The Kingdom is looking to diversify its economy as sustainability efforts intensify around the world to move away from oil.
