Oman Secured $498M in Sustainable Mining & Industrial Growth Deals

Oman’s Ministry of Energy and Minerals had finalized three strategic agreements worth RO 192 million (approx. US $498 million) with Gulf Mineral Materials and Novel Muscat International. These partnerships had been designed not only to boost the nation’s mining output but also to drive economic diversification, skilled job creation, and resource-efficient industrial growth.

Gulf Mineral Materials had been granted exclusive exploration rights in Concession Area 11-C in Al Buraimi Governorate, covering 1,089 sq km. The first two-to-three-year phase had focused on geological surveys, sampling, and drilling to assess copper and chromium reserves-while prioritizing modern mining practices to minimize environmental impact.

Novel Muscat International had committed to developing two industrial projects in Al Wusta Governorate-a 30 sq km salt and soda ash plant using seawater evaporation (reducing freshwater dependency) and a 558 sq km hydrated lime facility. Early-stage work had centered on resource assessments for silica, limestone, and clay, ensuring long-term operational sustainability.

These agreements had reflected Oman’s vision for a balanced and sustainable industrial future-combining resource development with value-added manufacturing, strengthening local supply chains, and fostering socio-economic resilience. With a focus on responsible extraction and efficient use of natural resources, Oman had taken a decisive step toward positioning itself as a regional leader in sustainable mining and industrial innovation.

Concessions with sustainability conditions baked in are becoming the Gulf default, and lenders, offtakers and BRSR/IRMA-tracked investors are starting to price the difference. Our sustainability-due-diligence and responsible-investment teams help mining, processing and downstream clients build the responsible-sourcing story that unlocks capital and preferred-supplier access.