Agreements
Signed to Develop Two Mining Concession Areas in Oman

Muscat,
10 Sep 2026 (ONA) — The Ministry of Energy and Minerals signed today in Muscat
two agreements to develop two mining concession areas with a total area of
approximately 1,687 square kilometers, with exploratory investments estimated at
about RO 6 million, equivalent to USD 15.4 million.

The
first agreement targets developing “Concession Area 51-B”, located in
the Governorates of A’Dakhiliyah and Al Wusta, spanning an area of 1,050 square
kilometers, with exploratory investments estimated at about USD 6.2 million.
The exploratory program for the area in its first phase extends for two years
and three months, and includes conducting topographic, geophysical, and remote
sensing surveys, performing geochemical and physical analyses, alongside
drilling and exploratory trenching works.

The
second agreement covers “Concession Area 25-E”, located in South A’Sharqiyah
Governorate, with an area of about 637 square kilometers, and exploratory
investments estimated at about USD 9.2 million. The work program focuses on
exploring the area through topographic, geophysical, and remote sensing
surveys, as well as conducting geochemical and physical analyses, and executing
a drilling and exploratory trenching program, thereby contributing to elevating
geological knowledge and evaluating the mineral potential of the area.

The
two agreements were signed on behalf of the Ministry by Eng. Salim Nasser Al
Aufi, Minister of Energy and Minerals.

The
Minister of Energy and Minerals affirmed that the signing of the two mining
concession agreements for Areas 51-B and 25-E represents an extension of the
Ministry’s efforts to provide investment opportunities, expand exploration and
prospecting for mineral resources, and build a base of projects capable of
development and transitioning to production. He pointed out that the coming
phase will focus on accelerating the transformation of exploration results into
productive projects, and maximizing the in-country value of mineral resources
through manufacturing and associated processing industries.

He
explained that over the past five years, the minerals sector has witnessed a
transformation in its investment and regulatory ecosystem, as 28 mining
concession areas targeting the exploration and development of a diverse range
of mineral ores were awarded, including copper, chromite, gypsum, limestone,
dolomite, silica, and salts, alongside other ores and minerals, with
investments dedicated to exploration works.

The
Minister added that this coincided with developing the legislative and regulatory
framework, adopting the occupational health and safety manual to elevate the
standards and efficiency of mining operations, and establishing the Oman
Mineral Trading Company to regulate the trading and marketing of ores and
enhance the efficiency of their market access, alongside transforming sector
transactions and services from paper procedures and applications into an
integrated digital system providing a database for the sector, raising the
efficiency and flexibility of submitting and tracking applications, and
offering investment opportunities in accordance with principles of transparency
and equal opportunity, thereby enhancing the sector’s competitiveness and the
efficiency of managing its resources and investments.

He
said that the impact of these efforts has begun to reflect on the sector’s
economic indicators, as revenues of the minerals sector in 2025 recorded growth
of about 39 percent compared to 2024, coinciding with activity expansion and
copper ore entering the production phase. He emphasized that the gradual
progression of concession areas from exploration to development and production,
along with the entry of new projects and sites—led by the Mazoon Copper
Mine—into the production phase next year, would support revenue growth,
maximize the economic value of mineral resources, expand value chains and
in-country value, and enhance the minerals sector’s contribution to economic
diversification and achieving the targets of Oman Vision 2040.

—Ends/AG