During a recent state visit to Kazakhstan by Sultan Haitham bin Tariq Al Said of Oman, significant plans were unveiled for the construction of the Muscat Tower business centre in Astana. This development will serve as the new headquarters for Solidcore Resources, a key player in the Kazakh mining sector. The project is set to be predominantly financed by an Omani sovereign fund, which will cover 85% of the construction costs, while Solidcore Resources will contribute the remaining 15%. The partnership highlights the growing collaboration between Oman and Kazakhstan, particularly in the mining and resource sectors.
His Excellency Abdulsalam Al Murshidi, President of the Oman Investment Authority and Chairman of the Board of Directors of Solidcore Resources, emphasised the importance of this investment. He stated, “Solidcore Resources is among our core assets in Kazakhstan, and by taking part in the construction of the new headquarters in Astana, we are expressing our support for the Company’s strategy, which leads to the concentration of technical expertise here, linking them to the skills and competence we have in Oman.” This statement underscores the strategic intent behind the investment, aiming to leverage Kazakhstani technical expertise alongside Oman’s financial capabilities.
The Muscat Tower will be situated in a newly developing district of Astana, symbolising not just a physical structure but a commitment to a long-term vision for Kazakhstan as a hub for Solidcore Resources. Vitaly Nesis, the Chief Executive Officer of Solidcore Resources, remarked, “The construction of Solidcore Resources’ headquarters in Astana is not merely an infrastructure project, but a direct reflection of our long-term vision of Kazakhstan as a hub for the Company. Muscat Tower will become a symbol of the trust that binds us to our strategic shareholder.”
Oman’s sovereign investment in Solidcore Resources is significant, with the Maaden International Investment fund holding a 31.7% stake in the company. This partnership is expected to enhance the operational capabilities of Solidcore Resources and foster further investments in Kazakhstan’s mining sector, thereby strengthening economic ties between the two nations. The Muscat Tower is poised to become a landmark of collaboration and growth, representing the shared aspirations of Oman and Kazakhstan in the mining industry.
