Skip to content Skip to Search
Skip navigation

Oman advances plans for mega minerals complex

By Pramod Kumar
Minerals Development Oman has signed MoUs with global buyers for the offtake of 17 million tonnes of gypsum and limestone Pexels/Piotr Arnoldes
Minerals Development Oman has signed MoUs with global buyers for the offtake of 17 million tonnes of gypsum and limestone

State-backed Minerals Development Oman (MDO) has awarded a feasibility study contract for a new industrial minerals complex in Dhofar governorate.

The company is working to secure the final investment decision to proceed with the Al Shuwaimiyah industrial minerals project, according to its 2023 annual report.

MDO is also in discussions with potential investors to take part in the project.

Person, Electronics, Mobile Phone

Newsletter
Get the Best of AGBI delivered straight to your inbox every week

No details were given on the project’s cost and completion date.

However, the company has signed memorandums of understanding (MoUs) with global buyers for the offtake of 17 million tonnes of gypsum and limestone.

The project targets three concessions, covering an area of 1,500 sq km, estimated to have 1.5 billion tonnes of limestone reserves, 1.3 billion tonnes of dolomite reserves and 960 million tonnes of gypsum.

The total peak output from the complex is estimated at 40 million tonnes per annum. 

In addition, the MDO intends to build a deep mining port to help transport minerals inland, the report said.

Latest articles

STC wants to consolidate the mobile tower market

STC approves PIF purchase of telecom company

Shareholders of Saudi telecom giant STC have approved plans to create a new telecommunications infrastructure company in which the Public Investment Fund will have a 51 percent stake valued at SAR8.7 billion ($2.3 billion).  Under the deal, the STC-owned Telecommunication Towers Co. Limited (Tawal) will become a PIF subsidiary through a merger with Golden Lattice […]

Flavio Cattaneo of Enel, of which Endesa is a subsidiary, and Mohamed Jameel Al Ramahi at the signing of the deal

Masdar buys stake in Spanish utilities company Endesa

The UAE’s state-owned clean energy company Masdar has agreed to acquire a minority stake in Spanish electric utility business Endesa to partner for 2.5 gigawatts (GW) of renewable energy assets in Spain. Under the agreement, subject to regulatory approval, Masdar will invest nearly $890 million to acquire a 49.99 percent stake in Endesa, with an […]

UAE markets Hong Kong

UAE capital markets partner with Hong Kong exchange

The Hong Kong Stock Exchange (HKSE) has added the Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM) to its roster of recognised marketplaces. The move opens the door for UAE-based companies to pursue secondary listings on one of Asia’s premier financial markets. It also follows the inclusion of the Saudi Exchange (Tadawul) […]

Car, Transportation, Vehicle

Dubai Taxi to pay $43m dividend despite profit drop

Dubai Taxi Company, a subsidiary of the emirate’s transport regulator, has approved a dividend payout of AED159 million ($43 million) for the first half of 2024 despite a marginal 1 percent increase in net profit. Net earnings reached AED187.4 million in the first six months of the year, compared to AED186.3 million at the same […]