MUSCAT: Leading Canadian energy materials specialist Homerun Resources Inc has announced the signing of a non-binding Memorandum of Understanding (MoU) with Minerals Development Oman (MDO), the nation’s mining investment flagship, to jointly explore prospects for, among other things, the establishment of a first-of-its-kind solar glass manufacturing project in Oman.
As a first step towards this goal, the MoU commits the two sides to jointly explore options for enhancing the quality of quartzite deposits found in MDO’s concessions in the Wilayat of Qurayat in Muscat Governorate.
According to Vancouver-based Homerun Resources, quartzite silica sand, if suitably processed into high purity quartzite (HPQ) silica sand, can be used to produce solar glass - the raw material for silicon wafers that are the primary component of solar cells.
Once purified, the silica sand is melted at high temperatures to form ingots, which are then sliced into thin wafers. These wafers are then processed and assembled into solar cells, which are combined into modules with solar glass to create solar panels.
Also as part of the MoU, the two sides will undertake a scoping study for the development of a solar glass manufacturing plant in Oman. The scoping study will cover, among other objectives, market studies, technical considerations and a preliminary economic assessment.
Based on the findings of the scoping study, the two parties will take a call on whether to undertake a pre-feasibility and potentially even a definitive feasibility study on the proposed solar glass project.
“Upon successful completion of a definitive feasibility study and obtaining internal approvals by both parties, a proposed special purpose vehicle (SPV) will be formed, and a shareholders’ agreement will be signed by the parties for the purpose of building and operating a solar glass production facility in Oman.
The relative shareholdings of the SPV will be discussed prior to undertaking the pre-feasibility study and/or the definitive feasibility study,” a statement issued by Homerun Resources added.
Publicly traded Homerun Resources, which is listed on the Toronto Venture Exchange, is currently focused on developing businesses within the critical and energy materials sectors.
Its goal is to procure high purity quartzite silica sand through company-owned resources, joint ventures and other collaborations, including open market purchases.
MDO – part of Oman Investment Authority (OIA) – is the leading investor and developer of Oman’s mineral resources with a mandate to unlock this natural wealth to support economic diversification and job creation in alignment with Oman Vision 2040.
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