Supported by investment-friendly mining regulation, Oman’s mining and mineral processing sector continues to growth from strength to strength.
New data released by authorities show an uptick in revenues earned from the production and export of key mineral commodities. Total production of building materials amounted to 48.3 million metric tonnes (MT) last year valued at RO 34.4 million. Gypsum output totaled 10.2 million MT, of which 9.3 million MT was exported, generating RO 21.8 million in export revenue. Limestone production amounted to 6.3 million MT with a value of RO 12.8 million.
Chromite ore production totaled around 382.1 thousand MT. Of this total, around 315 thousand MT was sold, generating RO 8.9 million in revenue. Plastic clay production totaled 774 thousand MT, of which 739 thousand MT were sold to fetch RO 1.7 million in earnings.
Quartzite exports totalled 321.4 thousand MT (out of total production of 349 thousand MT) earning RO 1.2 million in revenue. Laterite output amounted to 626.6 thousand MT (of which 556 thousand MT was sold), netting producers RO 1.3 million in earnings. Production of marble blocks amounted to 373.3 thousand MT, of which 311.2 thousand MT were sold with a value of RO 7.6 million.
The Omani authorities, represented by the Ministry of Energy and Minerals, have been focused on unlocking the commercial and economic potential of the country’s vast mineral resources to support economic growth. New laws and legislations have now incentivized local and international investments in geological surveys, exploration, appraisal and development of these resources.
Mining is also one of the key thrust sectors that have identified for development in support of the government’s economic diversification strategy.
Overall oil and gas are not the only national wealth that deserves great work and effort in order to enact laws and legislations to protect them and benefit from them fully because they support the national income, but there are mineral wealth that deserve research, exploration and exploration. In addition to establishing laws and legislation that protect this wealth and the diversity of the national economy.
The Sultanate of Oman possesses many minerals, and the state strives to make the most of this national wealth by regulating investment in it and achieving the largest possible return from it. This trend was on the tributaries that Oman 2040 focused on.
