Strategic Partnerships in Copper Cathode Localization: Implications for Investors and Businesses in Oman
MUSCAT, SEPTEMBER 10 – Green Tech Mining & Services Company and Nuhas Oman have entered into a Memorandum of Understanding (MoU) aimed at sourcing locally produced copper cathodes. This agreement supports the Ministry of Commerce, Industry and Investment Promotion’s ongoing initiatives to increase local content, reduce import dependency, and improve Oman’s trade balance while promoting the sustainability of the industrial sector.
Official statistics reveal that Oman imported approximately RO 25.7 million worth of copper cathodes in the first half of this year, contrasting with RO 45.3 million in 2024. This data underscores the necessity of localizing procurement efforts.
Dr. Saleh bin Said Masan, Under-Secretary of the Ministry of Commerce, Industry and Investment Promotion for Commerce and Industry, indicated that this MoU aligns with Oman’s Industrial Strategy 2040, which prioritizes enhancing local value addition and reinforcing industrial capabilities.
Khalid bin Salim al Qasabi, Director General of Industry at the Ministry, highlighted that the MoU builds upon the progress made in the first half of 2025, particularly the anticipated launch of Green Tech Mining’s copper cathode processing facility in the Wilayat of Suhar, Al Batinah North Governorate. The facility is expected to produce around 12,000 tonnes of copper cathodes annually by 2026. This initiative aims to create a fully integrated local supply chain within the copper industry, bolster Omani factories, foster industrial innovation, and promote the use of local resources across various sectors.
Gopal Krishnan, CEO of Nuhas Oman, expressed enthusiasm for collaborating with Green Tech Mining to establish a domestic copper source. He noted that this venture would enhance local value addition, generate employment opportunities for Omani youth, and contribute to sustainable industrial growth.
Ernst Grissemann, Chairman of Green Tech Mining & Services, remarked that the partnership aligns with Oman Vision 2040 and underscores the importance of enhancing local value. The collaboration seeks to fortify national supply chains, create quality job opportunities for young Omanis, and improve resource efficiency, thereby contributing to a more sustainable and diversified economy.
This initiative is anticipated to reinforce the copper value chain in Oman and stimulate non-oil exports, which recorded a growth of 9% by the end of June 2025 compared to the same period in 2024, reaching a total value exceeding RO 6.2 billion.
Among those present at the MoU signing were Andreas Reichhardt, Deputy Finance Minister of the Government of Austria, and Christophe Ceska, Ambassador of Austria to the Sultanate of Oman. — ONA
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الأخيرة MoU between Green Tech Mining & Services and Nuhas Oman يدل على تحول محوري نحو localizing copper production, reducing import reliance, and enhancing Oman’s industrial sustainability. This opens up الفرص الاستراتيجية for businesses to capitalize on local supply chains, while also presenting المخاطر tied to the execution and scalability of these initiatives. Smart investors should focus on sectors aligned with Oman’s Industrial Strategy 2040, particularly in green technology and local manufacturing, to leverage the growing non-oil export market.
