First Foreign investment in Oman's mining sector

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The Director General of Investment at the Ministry of Energy and Minerals stated that this is the first mining agreement with a foreign investor

Staff Writer, Times of Oman

March 3, 2023

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Muscat: The Ministry of Energy and Minerals signs a mining concession agreement with the British company "Knights Bay" to extract nickel and its derivatives with high purity.

The Director General of Investment at the Ministry of Energy and Minerals stated that this is the first mining agreement with a foreign investor, and the initial investments related to the exploration and evaluation phase are estimated at about 25 to 30 million US dollars in the first three years.

The UK embassy in Oman said; “ We are delighted to join the signing of the mining licence for Block 21 between Kanluran Knights and the Ministry of Energy & Minerals. Knights Bay is the first international company to invest in Oman's mining sector for over 25 years.”

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