Omani-Australian Mining Joint Venture Expands Exploration Territory in Al Sharqiyah North
The Omani-Australian joint venture, which recently launched a successful copper-gold project in Al Mudhaibi, has announced the expansion of its exploration territory in the Al Sharqiyah North Governorate, as granted by the Omani government. Alara Resources Ltd, the Australian entity in the partnership, has been awarded an additional 1,452 square kilometers (sq km) for exploration in the wilayat, named Block 22-B.
The award of Block 22-B is pending the finalization of an Exploration and Mining Concession Agreement, which will grant exclusive rights for exploration and development within the designated area. Atmavireshwar Sthapak, Managing Director of Alara, expressed gratitude for the government's confidence in the company and its joint venture partners. He highlighted the award as a testament to Alara's long-standing commitment to the Omani mining sector, including significant investments in mineral exploration and the development of a copper mine.
The expanded Block 22-B encompasses the existing Washihi-Majaza copper-gold mine and an ancient mining site, along with copper mineralization intersected at Mullaq. This expansion aligns with Alara's strategic focus on copper development in Oman, offering potential for further mineral discoveries adjacent to the company's processing facility.
Al Hadeetha Resources, in which Alara holds a 51% stake, began copper concentrate production from the Al Washihi-Majaza project in Al Mudhaibi last month. This marked the first exploitation of copper and associated gold resources by an international mining firm in Oman following the introduction of a revamped mining law.
The newly consolidated Block 22-B, resulting from the merger of former Blocks 22-A and 22-B, includes areas already explored for promising base metal resources, akin to those found in the Semail Ophiolite. The block is also noted for historical copper, gold, chromium, and iron workings, indicating the area's rich mineral potential.
The joint venture for the remainder of Block 22-B comprises Alara, Al Hadeetha Resources, Al Naba Group, and Al Tasnim Group, each holding a 27.5% interest, with the remaining 17.5% offered to South West Pinnacle, an existing Alara JV partner.
