Mining sector expansion aims to bring economic prosperity to Sultanate

Oman's transformative journey in mining includes establishing a national trading company and embracing green technologies to maximise resource value and drive sustainable economic growth

- ABDULAZIZ KHATTAK

OMAN'S mining sector is currently undergoing a significant transformation, positioning the Sultanate as a burgeoning force in the global mineral market.

Driven by an ambitious vision to diversify its economy and maximise the in-country value of its rich natural resources, Oman is implementing a series of strategic initiatives, including the establishment of a national mineral trading company and substantial investments in sustainable mining practices.

These concerted efforts are set to unlock the full potential of Oman's mineral wealth, foster economic growth, and enhance the nation's competitive standing on the international stage.

Minerals Development Oman (MDO) has been instrumental in spearheading these initiatives, demonstrating a steadfast commitment to enhancing the mining sector's contribution to Oman's economic and social development.

According to MDO's 2024 report released early this year, the holding company made significant strides in executing its investment strategy, expanding its portfolio, and strengthening strategic partnerships.

A pivotal moment was the signing of two concession agreements with the Ministry of Energy and Minerals for silica and salt exploration and mining in Mahout.

This expansion alone increased MDO's total concession area to 23,763 sq km, opening new avenues for exploration and mineral resource development in alignment with a sustainable growth strategy.