Mining
From The Report: Oman 2020
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Significant legislative developments in 2019 laid the groundwork for growth in Oman’s mining sector. The full extent of the country’s mineral wealth has only recently been realised, and with a number of projects under way across the sultanate, the sector has strong potential to affect positive economic diversification. At the same time, a welcoming climate for foreign investment and rapidly developing infrastructure demonstrates that companies are taking a holistic approach to the sector. Furthermore, investment in local downstream processing could lead to an increase in profits earned from raw resources. According to the Central Bank of Oman in its Annual Report for 2018, the country’s mining sector recorded the highest rate of growth among non-oil activities, at 16%.

Articles from this Chapter

Overview

Uncovering potential: Rapidly developing exploration and production incentives create a welcoming climate for foreign investment
OBG
plus

Significant legislative developments in 2019 laid the groundwork for positive growth in Oman’s mining sector. The full extent of its mineral wealth has only recently been realised, and with a number of projects under way across the sultanate, the sector has strong potential to affect positive economic diversification of the country. At the same time, a welcoming climate for foreign investment and rapidly developing infrastructure demonstrates that companies are taking a holistic approach…

Analysis

Promising development: Companies take an integrated approach to grow downstream and processing facilities in the sector
OBG
plus

The abundance of mineral resources in Oman has long been known, however, its full potential has only recently been tapped. The non-metallic mineral limestone has a purity of 99.8%, the highest in the world, and gypsum, of which Oman is the largest exporter globally, provide a steady source of GDP for the sector. However, the most notable growth has been seen in metals. In 2019 the sultanate’s copper potential dominated headlines, with a number of companies embarking on exploratory projects…