Yanqul Copper-Gold Project in Oman Advances with Lycopodium Contract

Yanqul Copper-Gold Project in Oman Advances with Lycopodium Contract

Key Development in Oman’s Mining Sector

The Yanqul Copper-Gold Project, developed by Mazoon Mining (MMC), a subsidiary of Minerals Development Oman (MDO), is set to make significant progress. Australian-based engineering and project management firm Lycopodium has been awarded a contract to provide Engineering, Procurement, and Construction Management (EPCM) services for this ambitious project.

Project Scope and Potential

Located in the Wilayat of Yanqul in Al Dhahirah Governorate, Oman, the project covers an expansive area of 370 square kilometers, encompassing five mines at Bishara, Hail Al Safl, Al Jadeed, Al Raki, and Asghar. The contract, valued at around RO 12 million, entrusts Lycopodium with the development of the process plant and related infrastructure, as well as the management of non-process plant related contractors.

The Processing Plant and Project Timeline

Central to the project is the construction of a processing plant with a 1.65 million tonnes per annum (Mtpa) throughput capacity. This facility will process ore from the open pit mines, producing copper concentrate and potentially recovering associated gold. The EPCM phase is scheduled to commence in Q1 2024 and conclude in Q2 2026.

Economic Implications and Market Potential

The Yanqul Copper-Gold Project is expected to capitalize on the high market demand for copper in international markets. Additionally, the project will benefit from the revenue generated from gold ore, which naturally occurs with copper ore in this region. This dual ore extraction offers a promising financial outlook for the project.

Strategic Importance for Oman

The development of this project marks a significant step for Oman in diversifying its economy and tapping into its mineral wealth. The involvement of Lycopodium, following its Definitive Feasibility Study in 2020, underscores the project’s potential and the commitment to delivering a world-class mining operation. As stated by MDO Group CEO Nasser al Maqbali, the project is anticipated to be a noteworthy addition to Oman’s mining landscape. icon

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