Pacts signed to develop Oman’s mineral industry
Located in northern Oman’s Al Buraimi Governorate, Concession Area 11-A spans 1,438 km² and is notable for its ophiolite sequence in the east. The area shows promising signs of chromium and copper, highlighting its strategic significance.
Published: 03:10 PM,Oct 09,2024 | EDITED : 07:10 PM,Oct 09,2024
These agreements mark a pivotal step in the ministry's efforts to enhance the mineral resources industry.
MUSCAT: The Ministry of Energy and Minerals has announced the signing of two significant concession agreements to advance the development of Concession Areas 11-A and 51-F, aligning with its strategy to bolster the mineral sector and support the national economy. These agreements mark a pivotal step in the ministry's efforts to enhance the mineral resources industry.
Eng Salim bin Nasser al Aufi, Minister of Energy and Minerals, signed the agreement for Concession Area 11-A on behalf of the Government of Oman, with Humaid Masoud Ali al Maqbali, Chairman of Oman Chromite Company, representing the company. The agreements require companies to carry out extensive exploration, including topographic, geophysical, and remote sensing surveys, along with geological mapping and geochemical analysis. A total of 35,000 metres of drilling will be conducted to identify potential mineral deposits.
Located in northern Oman’s Al Buraimi Governorate, Concession Area 11-A spans 1,438 km² and is notable for its ophiolite sequence in the east. The area shows promising signs of chromium and copper, highlighting its strategic significance.
Similarly, Eng Salim bin Nasser al Aufi signed the agreement for Concession Area 51-F with Nasser bin Saif al Maqbali, CEO of Minerals Development Oman. This area, situated in Al Wusta Governorate, covers 2,156 km². Initial studies reveal significant deposits of high-purity silica ore, with purity levels reaching an impressive 95%. The Ministry, in collaboration with Minerals Development Oman (MDO), is conducting feasibility studies to assess the mining potential, aiming to meet the silica industry’s high standards.
Eng Salim Nasser al Aufi stated: 'These agreements represent a significant milestone in our ongoing efforts to revitalize the minerals industry. A key initiative has been the allocation of concession areas through open, competitive processes that prioritize transparency and fairness. We have invested in developing national capacities through specialized training programs in natural resource management and cutting-edge mineral technologies.
To further streamline investments, we have launched a digital platform that provides investors with easy access to mineral opportunities, thereby facilitating investment procedures and making them more attractive. By fostering linkages between mining activities and projects that benefit local communities and protect the environment, we aim to position Oman as a premier investment destination in the minerals industry.
Eng Nasser bin Saif al Maqbali, CEO of Minerals Development Oman, added: 'This agreement represents a significant strategic step within the company's efforts to expand its portfolio of strategically important mineral resources. We pay particular attention to developing the production of fine silica, which is expected to contribute positively to enhancing the Sultanate of oman's role as one of the region's important mining centers. Through this project, we also aim to attract new investments in mining operations and manufacturing industries related to fine silica, such as glass and solar panels, which enhances the Sultanate's vision in the fields of manufacturing clean energy solutions. We extend our sincere thanks to the Ministry of Energy and Minerals for their confidence in Minerals Development Oman as a strategic partner in achieving the vision of the royal wise government related to the mining industry.'
Humaid bin Masoud Ali al Maqbali emphasised that Oman Chromite Company, the first Omani public joint stock company in the mining sector, has achieved impressive financial results recently, making it an attractive investment model. The company’s ambitious growth strategy focuses on expanding operations and enhancing product value, with an emphasis on operational excellence. 'Our employees are our greatest asset, and their dedication, skills, and innovation are essential to our continued success,' he noted.
Eng Salim bin Nasser al Aufi, Minister of Energy and Minerals, signed the agreement for Concession Area 11-A on behalf of the Government of Oman, with Humaid Masoud Ali al Maqbali, Chairman of Oman Chromite Company, representing the company. The agreements require companies to carry out extensive exploration, including topographic, geophysical, and remote sensing surveys, along with geological mapping and geochemical analysis. A total of 35,000 metres of drilling will be conducted to identify potential mineral deposits.
Located in northern Oman’s Al Buraimi Governorate, Concession Area 11-A spans 1,438 km² and is notable for its ophiolite sequence in the east. The area shows promising signs of chromium and copper, highlighting its strategic significance.
Similarly, Eng Salim bin Nasser al Aufi signed the agreement for Concession Area 51-F with Nasser bin Saif al Maqbali, CEO of Minerals Development Oman. This area, situated in Al Wusta Governorate, covers 2,156 km². Initial studies reveal significant deposits of high-purity silica ore, with purity levels reaching an impressive 95%. The Ministry, in collaboration with Minerals Development Oman (MDO), is conducting feasibility studies to assess the mining potential, aiming to meet the silica industry’s high standards.
Eng Salim Nasser al Aufi stated: 'These agreements represent a significant milestone in our ongoing efforts to revitalize the minerals industry. A key initiative has been the allocation of concession areas through open, competitive processes that prioritize transparency and fairness. We have invested in developing national capacities through specialized training programs in natural resource management and cutting-edge mineral technologies.
To further streamline investments, we have launched a digital platform that provides investors with easy access to mineral opportunities, thereby facilitating investment procedures and making them more attractive. By fostering linkages between mining activities and projects that benefit local communities and protect the environment, we aim to position Oman as a premier investment destination in the minerals industry.
Eng Nasser bin Saif al Maqbali, CEO of Minerals Development Oman, added: 'This agreement represents a significant strategic step within the company's efforts to expand its portfolio of strategically important mineral resources. We pay particular attention to developing the production of fine silica, which is expected to contribute positively to enhancing the Sultanate of oman's role as one of the region's important mining centers. Through this project, we also aim to attract new investments in mining operations and manufacturing industries related to fine silica, such as glass and solar panels, which enhances the Sultanate's vision in the fields of manufacturing clean energy solutions. We extend our sincere thanks to the Ministry of Energy and Minerals for their confidence in Minerals Development Oman as a strategic partner in achieving the vision of the royal wise government related to the mining industry.'
Humaid bin Masoud Ali al Maqbali emphasised that Oman Chromite Company, the first Omani public joint stock company in the mining sector, has achieved impressive financial results recently, making it an attractive investment model. The company’s ambitious growth strategy focuses on expanding operations and enhancing product value, with an emphasis on operational excellence. 'Our employees are our greatest asset, and their dedication, skills, and innovation are essential to our continued success,' he noted.