MUSCAT: Oman has amended its Mineral Resources Law to strengthen investor requirements, regulate the allocation of mining rights and help commercially viable discoveries move more quickly into production, according to the Ministry of Energy and Minerals.
The changes, introduced under Royal Decree 69/2026, cover the offering of mining sites, the granting of licences and concessions, financial guarantees and the transfer of mining rights.
Saud bin Khamis al Mahrouqi, Director General of Minerals at the ministry, said that the amendments were intended to improve transparency, strengthen investor confidence and increase the sector’s contribution to the economy.
A key provision gives exploration licence holders priority in obtaining an exploitation licence if they establish the presence of commercially viable mineral deposits and meet the prescribed requirements.
The measure is designed to help convert exploration findings into producing projects and reduce delays between discovery and development.
The revised framework also strengthens requirements for investors’ technical capabilities and financial standing. Financial guarantees will be linked to the scale of proposed projects and investments to reinforce commitments to approved development programmes.
Al Mahrouqi said the allocation of mining sites would be governed by principles of transparency, equal opportunity and competition, with the aim of attracting investors capable of developing resources efficiently.
The amendments regulate changes in an investor’s legal status, ownership transfers, the assignment of rights and the admission of new partners. These provisions are intended to preserve licence obligations and support project continuity when ownership or corporate structures change.
Penalties have also been tightened for unauthorised mineral extraction, operations outside licensed boundaries and extraction after a licence has expired.
Alongside stronger enforcement, the law establishes a framework for settling specified violations under defined conditions.
Al Mahrouqi said the approach sought to protect mineral resources while allowing investment activity to continue in compliance with the law.
Existing licences will remain valid until their expiry. Renewals and pending applications will be subject to the updated framework, providing a transition for current operators.
The ministry expects the changes to attract investment, accelerate project development and strengthen industrial activities linked to mining.
Al Mahrouqi said improved governance and clearer investment procedures would help increase the economic value generated from Oman’s mineral resources while supporting their sustainable development under Oman Vision 2040. — ONA
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