Saudi Arabia and Turkey have signed an MoU to boost cooperation in the mining sector, according to a statement by the spokesperson of Saudi Arabia’s Industry and Minerals Ministry. The agreement identified the key areas of cooperation, including mining exploration and development and clean mining technologies.

Paving the way for something big? The agreement paves the way for increased investments and cooperation on the minerals needed to boost technology in solar industry and EV manufacturing, Anadolu Agency reports.

REMEMBER- The Saudis are going big with energy transition metals: Saudi Arabia aims to become a global hub for green metals critical for the energy transition under efforts to diversify its economy away from oil. This includes significant amounts of uranium and titanium discovered in the country, according to officials. KSA says it has untapped metals and minerals— including copper, zinc, phosphate, and gold — collectively worth USD 1.3 tn. KSA’s Manara — a recently established JV between Saudi Arabia’s sovereign wealth fund and state-owned mining company Ma’aden — sealed an agreement in late July with Brazilian miner Vale to grab a 10% slice of its base metals unit as it eyes a pivotal role in the global energy transition supply chains.

And they’re keen on other Turkish renewables: Bayraktar said the kingdom is looking to establish renewable energy projects in Turkey that would yield 4-5 GW last month. He did not provide details on the projects in terms of the type of renewable energies to be employed or how much capital either country would contribute to the projects.

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