{"id":666,"date":"2024-10-17T08:49:00","date_gmt":"2024-10-17T04:49:00","guid":{"rendered":"https:\/\/www.utilitybusinessmena.com\/?p=666"},"modified":"2024-10-17T08:49:00","modified_gmt":"2024-10-17T04:49:00","slug":"minerals-development-oman-signs-strategic-agreement-to-explore-silica-resources","status":"publish","type":"post","link":"https:\/\/cheeltech.com\/utilitybusinessmena\/news\/minerals-development-oman-signs-strategic-agreement-to-explore-silica-resources","title":{"rendered":"Minerals Development Oman signs strategic agreement to explore silica resources\u00a0"},"content":{"rendered":"\n

In a landmark development for Oman\u2019s mining sector, Minerals Development Oman (MDO<\/a>), has signed a pivotal mining concession agreement with the Ministry of Energy and Minerals (MEM). <\/p>\n\n\n\n

This agreement empowers MDO to explore and develop strategic minerals within concession area 51F, located in the Al Wusta Governorate, covering 2,156 square kilometers in the Wilayat of Mahout. <\/p>\n\n\n\n

The area holds high-value deposits of silica, limestone, and dolomite – critical minerals poised to drive industrial growth and economic diversification in Oman.\u00a0<\/p>\n\n\n\n

Silica is in increasing demand, driven by industries such as glass manufacturing, renewable energy technologies<\/a> (e.g., solar panels), and energy storage<\/a>. In 2021 the glass industry emerged as the largest consumer of silica sand in the region, a trend that shows no signs of slowing. <\/p>\n\n\n\n

According to a Syndicated Analytics Report for GCC Silica Sand Market, projections estimate a compound annual rate growth of 6.7% from 2022 to 2027, reaching $513.5 million by 2027.\u00a0<\/p>\n\n\n\n

MDO\u2019s new concession positions the company to become Oman\u2019s first silica sand miner, advancing its strategy to diversify its mineral portfolio and tap into new growth opportunities. Silica sand, also known as industrial sand, is primarily composed of quartz and valued for its high silica content, strength, and non-reactive properties \u2014qualities essential to industries like glass, solar technology, and chemicals. <\/p>\n\n\n\n

Preliminary studies indicate that the site holds significant reserves of silica ore, with purity levels reaching above 97% naturally. The signing of this agreement reflects the shared confidence of MDO and the Ministry of Energy and Minerals in the long-term viability and commercial potential of the concession area.\u00a0<\/p>\n\n\n\n

Nasser Al Maqbali, CEO of MDO, remarked:  “This agreement underscores MDO\u2019s commitment to harnessing the nation\u2019s mineral wealth to create investment opportunities, generate employment, and drive sustainable industrial development. Our exploration of silica resources reflects Oman\u2019s untapped potential to support critical industries, especially those related to the energy transition.\u201d<\/p>\n\n\n\n

With this new agreement, MDO\u2019s total concession area has expanded to 24,119 square kilometers, reinforcing the company\u2019s role as a key player in supporting Oman\u2019s economic diversification and strengthening industrial capacity. The focus on silica aligns with Oman\u2019s national objectives, particularly in advancing the energy transition and expanding the industrial base.<\/p>\n\n\n\n

Strategic Projects and Regional Impact<\/strong><\/p>\n\n\n\n

Beyond being an asset owner, MDO positions itself as a catalyst for regional mining sector development. Each project aims to generate value for investors while ensuring direct benefits to local communities through employment and economic empowerment. <\/p>\n\n\n\n

Throughout 2024, MDO has undertaken several strategic exploration projects targeting key minerals such as copper, chromite, gypsum, limestone, dolomite, salt and hard silica. Earlier this year, the company celebrated the groundbreaking of the Lasil and Al Baydha Copper Mines Redevelopment Project in Sohar, Liwa. <\/p>\n\n\n\n

This project aims to produce 800,000 tonnes of copper ore per year after confirming 2.78 million tonnes of commercial-grade copper reserves.\u00a0<\/p>\n\n\n\n

In the coming months, MDO will announce the commencement of construction on the Yanqul Copper Project, led by its subsidiary Mazoon Mining LLC. Located in the Yanqul region, Mazoon Mining was granted exclusive rights by the Ministry of Energy and Minerals in 2022 to explore, develop, and produce copper concentrates, with gold as a secondary by-product. <\/p>\n\n\n\n

Following extensive feasibility studies, the Canadian firm Lycopodium was appointed as the EPCM contractor, aiming to break ground by the end of 2024. This project marks a significant milestone for MDO, positioning Oman among copper-producing nations and contributing to the country\u2019s economic diversification efforts.<\/p>\n\n\n\n

Al Maqbali emphasized:  “With these projects, MDO is becoming a key player in the region\u2019s mining industry and helping Oman achieve its goals of economic diversification and sustainable growth. By focusing on strategic minerals and building impactful partnerships, we are committed to boosting the mining sector\u2019s role in the national economy.”<\/p>\n\n\n\n

Commitment to Responsible Mining and Local Empowerment<\/strong><\/p>\n\n\n\n

MDO\u2019s growth strategy is centered on responsible mining, community collaboration, and local economic empowerment, particularly in remote areas. The new silica project will translate these values into action through training local Omanis to develop industry-relevant skills, engaging local suppliers for transportation, logistics, and construction, adhering to Omanisation targets to boost local employment and foster community development.<\/p>\n\n\n\n

With an expanding portfolio of projects and a commitment to Oman\u2019s sustainable development goals, MDO is shaping the future of the Sultanate\u2019s mining industry, unlocking new opportunities, and driving industrial progress for a prosperous and sustainable future.<\/p>\n","protected":false},"excerpt":{"rendered":"

Silica is in increasing demand, driven by industries such as glass manufacturing, renewable energy technologies, such as solar panels<\/p>\n","protected":false},"author":4,"featured_media":667,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[671,40],"tags":[669,670,672,673],"class_list":{"0":"post-666","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-mining","8":"category-news","9":"tag-minerals","10":"tag-minerals-development-oman","11":"tag-oman-ministry-of-energy-and-minerals-mem","12":"tag-silica"},"_links":{"self":[{"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/posts\/666","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/comments?post=666"}],"version-history":[{"count":0,"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/posts\/666\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/media\/667"}],"wp:attachment":[{"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/media?parent=666"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/categories?post=666"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/tags?post=666"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}