MUSCAT - A Memorandum of Understanding (MoU) signed by Oman and Türkiye during the state visit of President Recep Tayyip Erdoğan of the Republic of Türkiye last week is set to expand cooperation into mining and critical minerals exploration, among a range of other sectors.

Eng Salim bin Nasser al Aufi, Oman’s Minister of Energy and Minerals, signed the MoU with Alparslan Bayraktar, Türkiye’s Minister of Energy and Natural Resources. The signing was witnessed by His Majesty Sultan Haitham bin Tarik and President Erdoğan, along with officials from both countries.

In a post following the signing, Bayraktar stated: “With this agreement, we will encourage new collaborations and joint investments between public and private companies of both countries and enhance experience sharing in the field of earth sciences to explore new opportunities in mineral exploration and production. Our goal is to strengthen our strategic cooperation in this field through concrete projects that will benefit both countries”.

Under the MoU, Oman and Türkiye commit to sharing information and data on mining licence areas and existing investment opportunities. Joint investments in mineral exploration and production will be encouraged between public and private sector companies. The two sides will also exchange know-how and data in the fields of mining, critical minerals and earth sciences.

Oman has real and growing potential in critical minerals — particularly copper, chromite, silica and other industrial minerals; and salts — alongside promising but still-developing prospects for lithium, nickel, cobalt and certain rare-earth elements. The government has moved from policy to action through new concessions, state investment initiatives and downstream project MoUs. However, much of the lithium and rare-earth activity remains at the exploration, feasibility, or early investment stage.

The latest MoU builds on the growing partnership between the two countries across the energy and mining sectors. Both sides view mining as a key area of cooperation — Türkiye brings extensive mining experience, while Oman possesses rich mineral resources.

The Oman–Türkiye Joint Investment Fund, established in July with a capital of $500 million, identifies mining and metals as priority areas for cooperation. Additionally, Oman’s Public Authority for Special Economic Zones and Free Zones (OPAZ) has signed a cooperation programme with Türkiye’s Gebze Organised Industrial Zone (GOSB) to replicate the Turkish industrial-zone model in the Special Economic Zone at Duqm (SEZAD). Key joint investment sectors include mining, petrochemicals, food and logistics.

During an earlier visit by Türkiye’s energy minister, Bayraktar, to Muscat in July, another MoU was signed to strengthen partnership, technical cooperation and investment in the energy sector. The MoU covers: oil and gas (exploration, production and transport); trade in liquefied natural gas (LNG); renewable energy, energy efficiency and alternative fuels; green hydrogen and carbon-capture technologies; and the exchange of technology, expertise, joint projects and regulatory cooperation.

Additionally, Türkiye’s state-owned Turkish Petroleum Corporation (TPAO) signed a tripartite agreement with Oman’s Ministry of Energy and Minerals and OQ Exploration and Production New Ventures (OQEP), granting TPAO exclusive short-term rights to assess certain Omani oil and gas fields. Furthermore, TPAO and OQEP signed a cooperation agreement to explore new business opportunities across the upstream energy segment.

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