Mining
From The Report: Oman 2023
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With mineral mining a major focal point of the government’s plans to diversify Oman’s economy, the sector has seen revitalised interest in recent years from both domestic and foreign investors. The newly adopted strategy to develop the sector through comprehensive, large-scale concession agreements is opening up more territory and streamlining the business side. New geological surveys are being conducted, while additional financing arrangements are easing market entry. With the sultanate’s economy anticipating a major injection of new investment in 2023 and beyond – and as oil and gas revenue rises, and the impact of the Covid-19 pandemic fades – growth across the economy should also boost demand for minerals. Indeed, with the sector capable of providing everything from building aggregates to gold and copper, mining in Oman looks set to see a significant increase in activity in the years to come.

This chapter contains interviews with Nasser Al Maqbali, CEO, Minerals Development Oman; and Farrokh Masani, Executive Director, Mining and Quarrying, Al Tasnim Group.

Articles from this Chapter

Overview

Untapped resources: Changes to the regulatory framework are part of broader plans to expand the mining sector significantly
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With mineral mining a major focal point of the Omani government’s plans to diversify the country’s economy, the sector has seen revitalised interest in recent years, from both domestic and foreign investors. The sector’s newly adopted strategy to develop through comprehensive, large-scale concession agreements is opening up more territory and streamlining the business side. New geological surveys are being conducted, while additional financing arrangements are easing market entry. With the…

Interview

Hidden assets: Nasser Al Maqbali, CEO, Minerals Development Oman (MDO), on revitalising exploration projects and promoting downstream development to increase export capabilities
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Interview: Nasser Al Maqbali How have regulatory changes affected foreign direct investment in the sector, and what are the main opportunities for expansion? NASSER AL MAQBALI: The sector has been transforming since the main governing body changed from the Public Authority for Mining to the Ministry of Energy and Minerals in August 2020. The ministry allocated 12 concession areas to MDO in March 2022 which has kickstarted several projects and is expected to increase private sector participation.…

Interview

Uncovering potential: Farrokh J Masani, Executive Director, Mining and Quarrying, Al Tasnim Group, on facilitating development
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Interview: Farrokh J Masani How do you assess opportunities for investment in the sultanate’s mining sector? FARROKH J MASANI: Oman’s wealth of resources, many of which remain untapped, offer ample opportunities to generate revenue for the country. We see significant investment opportunities in mining, given the scale of mineral resources available in the country and the government’s restructuring of the sector. The mining industry is expected to be a significant contributor to Oman’s economic…