MDO’s exploration efforts lead to growth in assets
Published: 06:09 PM,Sep 06,2024 | EDITED : 10:09 PM,Sep 06,2024
Notable increases have been recorded in key minerals such as copper and chromite ore, as well as essential industrial resources including limestone, dolomite, gypsum, and silica.
MUSCAT: In a continued demonstration of its commitment to mineral exploration, the Minerals Development Oman (MDO) has seen notable growth in its exploration assets. The company invested close to RO 5 million in 2023 on various exploration programmes, which resulted in a 7 per cent increase in exploration assets. This growth encompasses both metallic and industrial minerals, reinforcing MDO’s pivotal role in the development of Oman’s mineral wealth.
The strategic allocation of resources has bolstered the company’s capabilities in identifying, evaluating, and expanding its mineral reserves. Notable increases have been recorded in key minerals such as copper and chromite ore, as well as essential industrial resources including limestone, dolomite, gypsum, and silica.
MDO's copper ore exploration efforts have yielded impressive results, with a total identified resource of 51 million tonnes. Of this, 37.3 million tonnes are classified under measured and indicated (M&I) categories, with an average grade of 1.18 per cent. Additionally, inferred resources stand at 13.7 million tonnes at 0.66 per cent. The company’s copper reserves currently amount to 25.7 million tonnes, boasting a proven and probable (P&P) grade of 1.25 per cent.
Similarly, chromite ore reserves have surged. MDO has identified a resource of 213,000 tonnes, all of which fall within the M&I category, with a grade of 23.4 per cent. Reserves stand at 133,000 tonnes with a higher grade of 28 per cent, further solidifying Oman’s position as a key player in the global chromite market.
In the industrial minerals sector, MDO’s exploration efforts have positioned Oman as a resource-rich country. Limestone, a critical raw material in cement and steel production, has recorded a massive resource base of 2.87 billion tonnes. Dolomite, another important mineral, now stands at 2.36 billion tonnes, providing significant potential for industrial applications.
Moreover, gypsum and silica, vital for the construction and manufacturing sectors, also reported substantial resource bases. Gypsum resources are measured at 936 million tonnes, while silica, essential for glass production and other industries, amounts to 210 million tonnes.
MDO’s focus on sustainable and responsible exploration is an integral part of its growth strategy. The company's efforts in 2023 have not only strengthened its asset base but also underscored its commitment to driving Oman’s economic diversification through the mining sector.
The strategic allocation of resources has bolstered the company’s capabilities in identifying, evaluating, and expanding its mineral reserves. Notable increases have been recorded in key minerals such as copper and chromite ore, as well as essential industrial resources including limestone, dolomite, gypsum, and silica.
MDO's copper ore exploration efforts have yielded impressive results, with a total identified resource of 51 million tonnes. Of this, 37.3 million tonnes are classified under measured and indicated (M&I) categories, with an average grade of 1.18 per cent. Additionally, inferred resources stand at 13.7 million tonnes at 0.66 per cent. The company’s copper reserves currently amount to 25.7 million tonnes, boasting a proven and probable (P&P) grade of 1.25 per cent.
Similarly, chromite ore reserves have surged. MDO has identified a resource of 213,000 tonnes, all of which fall within the M&I category, with a grade of 23.4 per cent. Reserves stand at 133,000 tonnes with a higher grade of 28 per cent, further solidifying Oman’s position as a key player in the global chromite market.
In the industrial minerals sector, MDO’s exploration efforts have positioned Oman as a resource-rich country. Limestone, a critical raw material in cement and steel production, has recorded a massive resource base of 2.87 billion tonnes. Dolomite, another important mineral, now stands at 2.36 billion tonnes, providing significant potential for industrial applications.
Moreover, gypsum and silica, vital for the construction and manufacturing sectors, also reported substantial resource bases. Gypsum resources are measured at 936 million tonnes, while silica, essential for glass production and other industries, amounts to 210 million tonnes.
MDO’s focus on sustainable and responsible exploration is an integral part of its growth strategy. The company's efforts in 2023 have not only strengthened its asset base but also underscored its commitment to driving Oman’s economic diversification through the mining sector.