Oman plans to expand its investments in Kazakhstan. The country’s sovereign investment structure has described Solidcore Resources as its flagship project in Kazakhstan and signaled its intention to continue supporting the company’s growth, DKNews.kz reports.
A delegation from the Sultanate of Oman, led by Abdulsalam Al Murshidi, President of the Oman Investment Authority (OIA) and Chairman of the Board of Directors of Solidcore Resources, met with the company’s management and visited the Kyzyl mine and processing complex.
Oman’s fund owns 31.7% of Solidcore
Oman’s interest in Kazakhstan’s mining sector is already backed by a substantial equity investment.
Maaden International Investment, a fund wholly owned by the Government of the Sultanate of Oman, is Solidcore’s largest shareholder with a 31.7% stake.
That makes the visit more than an introductory tour by a potential investor. The Omani side was inspecting the key Kazakhstan-based assets of a company in which it already holds the largest ownership position.
“We view Kazakhstan as a long-term strategic partner. We believe that the stable and predictable investment environment created under the leadership of the President, as well as the Government’s efforts to protect sovereign investments, provide a foundation for strong and long-term cooperation. We intend to continue supporting Solidcore’s growth and expand our investments in the country,” Abdulsalam Al Murshidi said.
He also described the recently signed investment cooperation agreement between Kazakhstan and Oman as an important step toward identifying new investment opportunities between the two countries.
Kyzyl produces around 350,000 ounces of gold a year
The Omani delegation also visited Kyzyl, Solidcore’s largest mine.
According to the company, the operation produces around 350,000 ounces of gold per year, with an average grade of approximately 5 grams per tonne.
During the meeting, the delegation was also briefed on Solidcore’s operations and the progress of construction at the Yertis Hydrometallurgical Plant.
For the Omani investor, the visit offered a direct look at both Solidcore’s existing production base in Kazakhstan and one of its major development projects.
Kazakhstan-built expertise is now moving into Oman
Mining cooperation between the two countries is increasingly becoming a two-way relationship.
The delegation also included Hamed Al Naumani, Chairman of the Board of Directors of Minerals Development Oman (MDO), and Matar Al Badi, CEO of MDO.
MDO is Solidcore’s partner in the Khabiyat copper-gold project in Oman. An agreement on the joint venture was signed in July 2026, making it the first joint international exploration project of its kind in Oman.
The structure of the partnership is therefore becoming broader: an Omani state-owned investor is the largest shareholder in a mining company with major operations in Kazakhstan, while Solidcore is taking its mining and processing expertise into a project in Oman.
Africa could become another direction
Al Murshidi also pointed to opportunities beyond Kazakhstan and Oman.
“Solidcore’s deep expertise in ore processing and responsible mining provides a strong foundation for promising joint projects in Oman, the Gulf region and potentially Africa,” he said.
According to Al Murshidi, these opportunities could support Solidcore’s evolution into an international mining company built on its technical expertise, quality assets, strong corporate governance and experienced team.
For Kazakhstan, the key point goes beyond attracting foreign capital into domestic mining assets. Expertise developed at Kazakhstan-based operations is increasingly becoming part of Solidcore’s expansion into other markets.
Solidcore Resources is registered at the Astana International Financial Centre, while its shares are listed on the Astana International Exchange (AIX). Its portfolio includes two operating assets and a major development project in Kazakhstan.
We previously reported on the $3 billion investment partnership between Kazakhstan and Oman. Solidcore is now emerging as one of the tangible pillars of that relationship, with an Omani state-owned fund holding a 31.7% stake in the company.
