The Ministry of Energy and Minerals announced the inkpacting of 2 concession agreements for the development of Concession Areas 11-A and 51-F, as part of its efforts to enhance the minerals industry. This step comes within the Ministry's plan to support the national economy through the development of mineral resources. HE Eng. Salim Nasser Al Aufi, Minister of Energy and Minerals, signed the agreement for Concession Area 11-A on behalf of the Government of the Sultanate of Oman, while Humaid Masoud Ali Al.Maqbali, Board Chairman of Oman Chromite Company, signed on behalf of the company. Under the terms of the agreements, the companies are obligated to conduct a comprehensive exploration program, including topographic, geophysical, and remote sensing surveys. They will also map the geology of the areas and conduct geochemical and physical analysis. To identify potential mineral deposits, the companies will drill a total of 35,000 meters.
Concession Area 11-A is located in northern Oman in the Governorate of Al Buraimi, and covers an area of 1438 km². The area is characterized by its ophiolite sequence in the eastern part. The area contains indicators of chromium and copper, making it of strategic importance.
As HE Eng. Salim Nasser Al Aufi signed the agreement for Concession Area 51-F on behalf of the Omani government, Nasser Saif al-Maqbali, the CEO of Minerals Development Oman, signed on behalf of the company. The initial phase of exploration operations includes conducting desk studies, topographic and geological surveys, as well as drilling and sample analysis.
Concession Area 51-F, located in Al Wusta Governorate, covers a vast expanse of 2,156 square kilometers. Preliminary assessments reveal substantial deposits of high-purity silica ore, with purity levels reaching a remarkable 95%. The Ministry of Energy and Minerals, in collaboration with Minerals Development Oman (MDO), is actively exploring these resources and conducting feasibility studies to determine the viability of mining operations that meet the stringent purity standards demanded by the silica industry.
HE Eng. Salim Nasser Al Aufi, Minister of Energy and Minerals, stated: "These agreements represent a significant milestone in our ongoing efforts to revitalize the minerals industry. A key initiative has been the allocation of concession areas through open, competitive processes that prioritize transparency and fairness. We have invested in developing national capacities through specialized training programs in natural resource management and cutting-edge mineral technologies. To further streamline investments, we have launched a digital platform that provides investors with easy access to mineral opportunities, thereby facilitating investment procedures and making them more attractive. By fostering linkages between mining activities and projects that benefit local communities and protect the environment, we aim to position Oman as a premier investment destination in the minerals industry.”
Engineer Nasser Saif al-Maqbali, CEO of Minerals Development Oman, explained: "This agreement represents a significant strategic step within the company's efforts to expand its portfolio of strategically important mineral resources. We pay particular attention to developing the production of fine silica, which is expected to contribute positively to enhancing the Sultanate's role as one of the region's important mining centers. Through this project, we also aim to attract new investments in mining operations and manufacturing industries related to fine silica, such as glass and solar panels, which enhances the Sultanate's vision in the fields of manufacturing clean energy solutions. We extend our sincere thanks to the Ministry of Energy and Minerals for their confidence in Minerals Development Oman as a strategic partner in achieving the vision of the royal wise government related to the mining industry."
Humaid Masoud Ali Al.Maqbali, emphasized that the Oman Chromite Company is the first Omani public joint stock company operating in the mining industry. It has successfully achieved outstanding financial results in recent years, making it an attractive model for investments in the mining industry in the Sultanate through public shareholding. The company adopts an ambitious growth strategy aimed at expanding its operations and enhancing the added value of its products, with a focus on operational excellence. The company recognizes the invaluable role of its human capital in realizing its strategic objectives. Our employees are our greatest asset, and their dedication, skills, and innovation are essential to our continued success.