Unlocking Opportunities: How Oman’s Mining Investment Potential in Riyadh Can Benefit Your Business
Oman Participates in Fifth International Mining Conference in Riyadh
MUSCAT, JAN 18 – The Ministry of Energy and Minerals represented Oman at the fifth International Mining Conference held in Riyadh, a prominent platform for discussions on mining development, mineral supply chains, and sustainability.
The conference attracted delegates from over 100 countries, including ministers, policymakers, industry experts, and representatives from major global mining companies and organizations.
Leading the Omani delegation was Mohsin bin Hamad al Hadhrami, Under-Secretary of the Ministry of Energy and Minerals. He emphasized that Oman’s involvement underscores the significant advancements within its minerals sector and its dedication to adopting international best practices.
Al Hadhrami highlighted several key achievements, such as the initiation of copper and silica concentrate production, along with the development of mineral resources including chromium, gypsum, limestone, salt, and laterite. These accomplishments are pivotal for value creation and economic diversification.
Efforts to attract both local and foreign investment are ongoing, bolstered by the digitization of sector management through the “Taqah” digital services platform. This initiative facilitates licensing, investment competition, monitoring, and revenue collection, upholding principles of transparency and equal opportunity.
Additionally, the rollout of operational concession areas via smart digital platforms, along with the establishment of a specialized company for regulating mineral trading, enhances governance and market efficiency.
Al Hadhrami also emphasized the significance of the “Majd” Local Content Programme. This initiative is designed to empower national companies, localize supply chains, build local capabilities, and maximize the economic and social impacts of mining projects, all in alignment with Oman Vision 2040.
During the conference, the Omani delegation engaged in bilateral meetings with international mining firms and institutions to explore cooperation, joint investments, and collaborative opportunities in exploration, mining, and mineral project development.
This participation underscores Oman’s commitment to enhancing competitiveness, attracting quality investments, and positioning itself as a promising regional and international hub for mining investment.
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Oman’s active participation in the International Mining Conference signals a strategic commitment to economic diversification and sustainability in its minerals sector. This presents opportunities for businesses in Oman, particularly in attracting both local and foreign investment, driven by digitization and transparent governance. Smart investors should consider leveraging the evolving landscape of mining and mineral resources, particularly in light of initiatives like the Majd Local Content Programme, to align with Oman Vision 2040 and capitalize on emerging market potentials.
