Tuesday 01st, December 2015

Oman's mining sector is expected to grow by leaps and bounds over the next five years, said experts speaking at the first Oman Minerals & Mining Exhibition & Conference. The confidence stems from the facts and figures pointing towards the recently discovered mineral deposits and the foreseen increase in bulk exports through namely Sohar, Duqm and Salalah ports. "The new mining law, which is to be announced in the coming months will help enhance the opportunity for investment in mineral development and quarrying related activities, apart from putting regulations to protect the environment," said Ahmed bin Hassan al Dheeb, Under-Secretary at the Ministry of Commerce and Industry.

He said a policy is being prepared to improve the contribution of the mining sector to the GDP. The new mining law will offer real investors with facilities and create genuine mining companies. He said there are plans to build mineral ports near sites to facilitate easy export of minerals, which is being studied in coordination with the Ministry of Transport and Communications. Dr Ali bin Salim al Rajhi, Assistant Director-General of the Public Authority for Mining, said a pre-feasibility study is being conducted on the mining sector and encourage investment in related industries such as glass and copper.

"Efforts are on to encourage investors start industrial projects using local mining materials and create job and training opportunities for Omanis." The exhibition is also showcasing industrial projects that will attract local and international mining firms for investment. The two-day conference has a line-up of 40 local and international speakers, representing various segments and companies from the mining sector, among them US Geological Survey, British Geological Survey, Public Authority for Mining, Mawarid Mining and CRU Mining. Dr Salim al Busaidi of Autad, Oman, said "Over 300 active mining operations are currently active in Oman. From 1996, the production of non-metallic minerals has increased about eight times.

In 2013, exports of mineral products accounted for 33 per cent of Oman's total non-oil exports. This conference is emphasising on the added value mineral commodities and bringing together the local and international expertise and investors to discuss the development, challenges and opportunities in the mining sector. I would like to thank our partner Omanexpo for their initiative to help promote Oman's mining industry and for opening doors for international trade and investment," he said.

© Oman Daily Observer 2015