Oman announces new mining concession as part of critical minerals drive
Oman has announced three new mining concession areas under an initiative seeking to expand investment opportunities in exploration, mining and the development of new critical minerals projects. The sultanate's Ministry of Energy and Minerals announced at a conference in Australia on Tuesday that the new concession areas total 2,062 square kilometres and will include investment areas at several…
Oman has unveiled three new mining concession areas as part of its critical minerals drive, as announced by the Ministry of Energy and Minerals at a conference in Australia. The total area of these new concession zones is 2,062 square kilometres, encompassing various investment stages from exploration to ore processing. Oman's mountains are known for their rich deposits of ophiolite, which may hold metals like chromite, copper, nickel, manganese, and others.
The newly announced areas, ranging from 627 to 830 square kilometres, could contain manganese, nickel, laterite ores, copper, chromite, gold, marble, and basalt. The mining sector is one of four key pillars under Oman's Vision 2040, aiming to boost the country's GDP contribution from 1.4% in 2020 to 10% by 2040. Oman's strategy contrasts with the UAE and Saudi Arabia's, focusing more on domestic projects despite smaller scale compared to Saudi Arabia.
In 2025, the Ministry of Energy and Minerals announced three mineral exploration agreements worth $500 million, covering copper, chromium, and other industrial metals. In 2023, Oman signed its first mining agreement with a foreign investor, Knights Bay, for nickel extraction. The sultanate was also the first in the region to produce and export ferrochrome, a crucial component for stainless steel production.
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