Joint venture advances copper-gold project in Oman

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MUSCAT : International minerals exploration and development company, Alara Resources, has recently released its annual report highlighting significant progress in its flagship joint venture copper-gold project in Oman and strategic efforts to expand its mineral properties portfolio.

One of the major achievements for Alara Resources is the advancement of Al Wash-hi Majaza copper-gold project in Al Mudhaibi in North Al Sharqiyah. With the development moving closer to the starting line, Alara has positioned itself as a key player in the Middle Eastern mining sector. The company now holds an impressive 1186 square kilometres of acreage in the stable and favourable jurisdiction of the region.

The project, operated by Al Hadeetha Resources, is a joint venture between Alara Oman Operations, Al Hadeetha Investments and Al Tasnim Infrastructure. The initial joint venture was formed in 2011 for the purpose of exploring and developing the mineral zones within the Wash-hi Majaza, Al Ajal and Mullaq licence areas. Al Tasnim joined the JV in 2019.

The company participated in a mining exploration round organised by the Sultanate of Oman. It successfully bid for four exploration blocks, which will serve as potential avenues for future resource discoveries and expansion of its operations.

Meanwhile, in a significant milestone achieved this week, Alara Resources announced the successful commissioning of its copper concentrate. This achievement sets the stage for the next phase of operations, as the entire plant is scheduled to be fully operational in a phased manner within the next four weeks. The plant boasts an impressive nameplate capacity of up to one million tonnes per annum, emphasising the company's commitment to scaling up its copper production.

The construction progress of the plant is commendable, with steel erection already 97 per cent complete, electrical works at 68 per cent, and mechanical installation at 92.5 per cent. These numbers highlight Alara's dedication to timely project execution and its capability to deliver on its commitments.

Managing Director Atmavireshwar Sthapak anticipates that 2025 will bring new records for copper prices, setting the stage for increased profitability and growth.

While focusing on the successful development of the Al Wash-hi – Majaza mine, Alara Resources also recognises the support it has received from His Majesty Sultan Haitham bin TariK, and his government. The company also acknowledges the Oman’s Ministry of Energy and Minerals for its instrumental role in bringing the project to its advanced state of construction. This collaborative approach strengthens Alara's relationship with the government and positions the company for further success in the region.