Pact signed for mining sector development

July 18, 2017

The Public Authority for Mining (PAM) on Monday signed a pact with SRK Consulting and its supportive companies, Mayer Brown and Wood Mackenzie, to implement Oman Mining Strategy. The agreement was signed by Eng Hilal bin Mohammed al Busaidi, CEO of PAM and officials of the contractors.

“This pact comes as part of the steady efforts made by PAM since the end of 2015 to complete the system for preparing and developing all stages of the mining sector,” said Eng Busaidi.

“This stage is related to developing the general strategy of the mining sector, which is one of the five prioritised sectors in the ninth five-year plan in a bid to achieve the aims of the sultanate with regard to developing the sector and ensuring sustainable development. Hopefully, the strategy will highlight the growth of the sector in the next ten years. The strategy, which will be implemented starting from 2018, will contribute to achieving Oman Vision 2040,” he added.

“Figures point out that the contribution of the mining sector to the GDP stands at 0.14 per cent. Through studying investments as well as through programmes and initiatives, PAM will seek to maximise the contribution of the sector to the GDP.”