Progress on Oman’s Largest Copper Concentrator Project: Key Insights for Investors and Business Growth
MUSCAT: Construction is rapidly advancing on a significant copper concentrator project in the Wilayat of Yanqul, Al Dhahirah Governorate. This project represents the largest of its kind in Oman and is a central element of state-owned Minerals Development Oman’s (MDO) strategy to establish the Sultanate as a leading copper producer.
The concentrator, with a capacity of 2.5 million tonnes per annum (Mtpa), is being developed by Mazoon Mining, a fully owned subsidiary of MDO. This initiative is part of a $270 million investment aimed at tapping into the mineral potential of the Mazoon copper project in Yanqul, which is set to be the largest integrated copper concentrate production operation in Oman.
Spanning 20 square kilometres, the project includes five open-pit mines, identified to have approximately 22.9 million tonnes of copper ore reserves. At the heart of the operation is a cutting-edge processing facility capable of processing 2.5 million tonnes of copper ore each year. Expected to commence operations by Q1 2027, the project aims to generate 115,000 tonnes of copper concentrate annually at a copper grade of 21.5 percent.
MDO CEO Mattar al Badi emphasized the project’s national importance, stating, “With six open-pit mines feeding this concentrator, we are building a project that will place our country on the global map of copper producers.” He described Mazoon Mining as a landmark initiative for Oman’s mining journey, offering opportunities for the youth and exemplifying what can be achieved through purposeful collaboration.
A consortium of contractors and service providers is in place to ensure timely project completion. The overall development is being overseen by Canada’s Lycopodium, which has been contracted for Engineering, Procurement and Construction Management (EPCM) services. Major equipment is sourced from Metso, a global leader in mineral processing technology.
Additionally, Asyad Group, the state-owned logistics provider, is responsible for transport and logistics services. The Oman National Engineering and Investment Company (ONEIC) is managing power line and substation construction, while bulk earthworks are being conducted by Strabag Oman.
Copper is recognized as a crucial mineral in the transition to clean energy and advanced technologies, including electric vehicles, renewable energy systems like solar and wind, and energy storage solutions. As global copper demand surges, the Mazoon Mining project aligns with Oman’s long-term vision of becoming a significant player in the global energy transition.
Special Analysis by Omanet | Navigate Oman’s Market
The Mazoon Mining copper concentrator represents a pivotal shift for Oman’s economic landscape, positioning the Sultanate as a promising global copper producer. This project not only opens up new opportunities for local businesses in construction and logistics but also underscores a growing market for smart investors in sectors related to clean energy technologies. As global demand for copper surges, entrepreneurs should consider aligning their strategies with this burgeoning industry to capitalize on Oman’s enhanced mineral output.
