Sultanate’s new mining strategy to be presented at Oman Mining Expo today
Oman Mining Expo, the three-day long biggest mining sector event in the Middle East region, will begin today at Oman Convention & Exhibition Centre.
The event will introduce a number of presentations, which will discuss the strategy development and introduction of the new mining law.
Oman Mining Expo will be inaugurated by H H Sayyid Harib bin Thuwaini al Said, Assistant Secretary General of the Council of Ministers for Conferences. The event is organised by the Public Authority for Mining (PAM) and Omanexpo.
Since its conception in 2014, PAM has taken significant steps to support the development of mining sector and is committed to its part in delivering the sector’s role as one of the key focus areas in the sultanate’s ninth five-year development plan (2016-20).
The new mining strategy has been developed by a consortium of SRK Consulting (UK) Ltd, Wood Mackenzie Limited and Mayer Brown International LLP.
In 2017, SRK was appointed by the PAM as lead consultant of the consortium with Wood Mackenzie Limited and Mayer Brown International LLP to deliver a multi-disciplinary review of Oman’s mining sector and develop a strategy to support the sector’s development over the next ten years, laying the foundation for its long-term sustainable growth.
Tim Lucks, principal consultant at SRK said, “The strategy highlighted the opportunities to create a more attractive commercial environment for interested developers and operators, whilst also identifying a range of opportunities in a variety of commodity value chains, that if fulfilled, would significantly increase the mining sector’s contribution to Oman’s economy.”
He said, “The strategy also provided recommendations in terms of improvements to the country’s operating and regulatory environment, thereby improving Oman’s attractiveness as a destination for mining related investment.”
Lucks said Oman’s minerals sector has an exciting future ahead with numerous opportunities to reinvigorate the sector through exploration and unlocking of potential projects and expansions.
“These conditions will need to be nurtured through the development of a attractive commercial environment, integrated approaches, which foster international best practices and facilitate greater awareness of the interaction between mining and the environmental and social setting,” Lucks said.
He added that events such as Oman Mining Expo are key in terms of bringing together the current explorers and operators, as well as introducing new investors to Oman, and its mineral potential.
Oman Mining Expo will showcase products and services from over 100 companies from 15 countries. It will also see presentations from 37 international speakers on various topics related to the mining industry.