MUSCAT, SEPT 10
Green Tech Mining & Services Company and Nuhas Oman have signed a Memorandum of Understanding (MoU) to explore potential procurement of locally produced copper cathode. The MoU aligns with ongoing efforts by the Ministry of Commerce, Industry and Investment Promotion to enhance local content and reduce reliance on imports, thereby positively impacting Oman’s trade balance and supporting the sustainability of the industrial sector.
Official statistics indicate that Oman’s imports of copper cathodes reached around RO 25.7 million in value during the first six months of this year, compared to RO 45.3 million in 2024, highlighting the scale of the challenge and the importance of localising procurement.
Dr Saleh bin Said Masan, Under-Secretary of the Ministry of Commerce, Industry and Investment Promotion for Commerce and Industry, stated that the MoU is in line with the goals of Oman’s Industrial Strategy 2040, which emphasises enhancing local value added and strengthening the capabilities of the industrial sector.
Khalid bin Salim al Qasabi, Director General of Industry at the Ministry, noted that the MoU builds on achievements in the first half of 2025, including the planned opening of Green Tech Mining’s copper cathode processing plant in the Wilayat of Suhar, Al Batinah North Governorate. Copper cathode output is projected at around 12,000 tonnes annually by 2026. The initiative supports a fully integrated local supply chain in the copper industry, empowers Omani factories, encourages industrial innovation and increases reliance on local inputs across sectors.
Gopal Krishnan, CEO of Nuhas Oman, a local manufacturer of copper cables and wires, expressed the company’s eagerness to collaborate with Green Tech Mining to develop a local source of copper. He emphasised that the initiative would enhance local value added, create new jobs for Omani youth and support sustainable industrial development.
Ernst Grissemann, Chairman of Green Tech Mining & Services, stated that the partnership reflects the company’s commitment to Oman Vision 2040 and local value enhancement. The collaboration aims to strengthen national supply chains, provide quality opportunities for Omani youth and improve resource efficiency, contributing to a more sustainable and diversified economy.
The initiative is expected to strengthen the copper value chain in Oman and boost non-oil exports, which grew by 9% by the end of June 2025 compared to the same period in 2024, reaching a value of over RO 6.2 billion.
Also present at the MoU signing were Andreas Reichhardt, Deputy Finance Minister of the Government of Austria and Christophe Ceska, Ambassador of Austria to the Sultanate of Oman. — ONA
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