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Mining for a Brighter Future: Morocco and Saudi Arabia Sign Agreement to Strengthen Cooperation
Representatives from the Kingdom of Morocco and Saudi Arabia convened this week to formalize an agreement aimed at boosting cooperation between the two nations in the mining sector.
On Tuesday, Moroccan Minister of Energy Transition and Sustainable Development Leila Benali and Saudi Minister of Industry and Mineral Resources Bandar bin Ibrahim Al-Khorayef signed a memorandum of understanding on the sidelines of the third annual Future Minerals Forum held in Riyadh.
The agreement seeks to facilitate the exchange of expertise and best practices between Morocco and Saudi Arabia as both countries look to tap into growing global demand for strategic minerals and metals. It also opens the door for increased investment in mining projects of mutual interest.
Officials said the pact would build on the longstanding bilateral relationship between the two kingdoms and help solidify their roles as major players in the minerals market extending across Africa, Western Asia, and Central Asia.
The signing comes as Saudi Arabia ramps up efforts to diversify its economy beyond oil and gas. The kingdom has targeted mining as a key sector for growth, with plans to exploreunused mineral resources across the country.
Meanwhile, Morocco has grown into one of the largest phosphate exporters in the world and is seeking to expand production of other critical minerals.
By joining forces, Morocco and Saudi Arabia hope to capitalize on what lies beneath their soil and power their economies forward. This week's agreement plants the seeds for a mining partnership between the two nations that could bear valuable fruit for years to come.