The Omani Ministry of Energy and Mining (MEM) has signed 12 concession agreements with Mining Development Oman (MDO).
The agreement for 12 mining blocks will cover a total area of 21,480 sq km - four sites for exploring and mining industrial minerals (non-metallic) such as dolomite, silica, gypsum, and limestone; eight sites for exploring copper, gold, and chromium. MDO comes under Oman Investment Authority (OIA).
"MEM is working towards the development and management of Minerals sector in an effective and professional manner that goes in line with the sector's aspirations as one of the economic diversification sectors. The Ministry has adopted a new methodology to develop this sector through establishing mining concession agreements of large areas similar to the practice in the Oil and Gas sector. Those areas will be offered to local and international companies specialized in exploration and minerals extraction as per an exploration and mining concession agreement. The agreements are linked with the creation of in coun-try value in mineral ores in the Sultanate of Oman, and establishment of downstream mining and manufacturing industries, in addition to creating more job opportunities", said Dr. Mohammed Al Rumi, Minister of Energy and Minerals (MEM).
Dr. Badar Al Kharusi Chairman of Minerals Development Oman, "By signing these agreements, we mark a significant milestone for MDO's future. MDO has promising aspirations to invest in exploration activities across Oman targeting several strategic commodities and we hope that the promising results of these exploration activities will be a solid cornerstone to attract strategic investors and ultimately promote the en-tire Omani mining sector, in collaboration with our esteemed partner Ministry of Energy and Minerals."
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