Saudi and Japan sign Memorandum of Cooperation in Mining and Mineral Resources

Saudi and Japan sign Memorandum of Cooperation in Mining and Mineral Resources

The Saudi Minister of Industry and Mineral Resources, Bandar Ibrahim Alkhorayef, and the Japanese Minister of Economy, Trade, and Industry, Saito Ken, signed a memorandum of cooperation between their respective ministries in mining and mineral resources at the ministry’s headquarters in Riyadh.

The memorandum aims to bolster collaboration between both sides in the field of mining and mineral resources. This encompasses joint training programs to enhance human capital, exchanging professional visits and technical experts, and sharing experiences and information such as studies, policies, and regulations related to mining and mineral resources.

Additionally, the Japanese Ministry of Economy, Trade, and Industry intends to facilitate opportunities for joint investments in mining and mineral resources within Saudi Arabia or other third countries, in compliance with respective regulations, laws, and procedures.

The two ministers also witnessed the signing of a cooperation agreement between Manara Minerals Company and the Japan Organization for Metals and Energy Security (JOGMEC), an organization affiliated with the Japanese government. JOGMEC was established in 1967 and restructured in 2004 to ensure a stable supply of oil, natural gas, and mineral resources to meet Japan’s energy and resource needs.

The memorandum aims to promote cooperative investments in mines and establish projects in third countries, with a particular focus on Africa and Latin America