Friday, March 29, 2024 | Ramadan 18, 1445 H
clear sky
weather
OMAN
25°C / 25°C
EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

Savannah Resources close to securing copper mining licenses

989956
989956
minus
plus

MUSCAT, SEPT 22 - The UK-headquartered international mining firm Savannah Resources says it is close to obtaining mining licenses for the development of promising copper resources in two key blocks in the Sultanate. On Friday, the company announced the launch of a diamond drilling programme at copper deposits in Bayda (Block 4) and Hara Kilab (Block 5). Savannah has a 65 per cent shareholding in the Omani company, Al Thuraya LLC, the owner of the Block 4 Project. It is also a 65 per cent shareholder in Al Fairuz Mining, the holder of the Block 5 licence.


Savannah’s CEO, David Archer said: “As we move closer to the anticipated grant of Mining Leases over both the Mahab 4 and Maqail South copper deposits, we are looking at defining further Mineral Resources that could provide supplemently feed to a hub and spoke mine development centred around the copper deposits located on Blocks 4 and 5. The current programme is focusing on two of the more promising deposits that, to date, have received only limited contemporary drill testing.”


The two high-grade, low CAPEX copper mine developments are currently awaiting final licencing approval, according to Savannah Resources. “Letters of approval or “No Objection” have been received from all eight ministries and we are now working on concluding the mine licencing process with the Public Authority of Mining for the issuance of the two Mining Licences,” the company said.


SHARE ARTICLE
arrow up
home icon