Oman aims to step up minerals investment

Oman Ministry of Energy and Minerals undersecretary Mohsin bin Hamad Al Hadhrami says the release of three new mining concession blocks will open up more than 2060 square kilometres of the sultanate to new exploration for copper, chromite, gold, nickel and manganese.

Announcing the release at IMARC 2026 in Sydney, Australia, Al Hadhrami said increasing investment in modern mineral exploration was part of the country’s Oman Vision 2040, which has an expanded mining and metals processing industry as a strategic pillar.

The economic and social plan aims to increase the sector’s GDP contribution from 1.4% in 2020 to 10% by 2040. Oil-rich Oman’s GDP this year is about US$120 billion.

“For the Sultanate of Oman mining is more than an economic opportunity,” Al Hadhrami said at IMARC.

“It is part of our history, our identity and our vision for the future.

“Nearly 5000 years ago Oman was known as Magan, renowned for copper production and trade with the great civilisations of Mesopotamia. Behind this legacy lies a geological history extending back approximately 900 million years.

“Oman is home to the Semail Ophiolite, one of the world's largest and best-preserved exposures of ancient oceanic crust and upper mantle rocks – a geological treasure that reflects the extraordinary diversity of our mineral resources. These include copper, chromite, gold, nickel and manganese, alongside gypsum, limestone, dolomite, marble, silica and other industrial minerals.”

The undersecretary said geology and planning was translating into tangible economic milestones.

“In 2025 Oman became the world's leading exporter of gypsum, with exports exceeding 14 million tonnes,” he said.

“Our copper industry is entering a new era, with three mining projects supported by confirmed copper ore reserves exceeding 50 million tonnes, creating opportunities for extraction, beneficiation, processing and downstream manufacturing.

“And Omani marble is exported to more than 100 countries worldwide, demonstrating the international competitiveness of our mineral products.”

Al Hadhrami said granted concession areas had moved from exploration to development and production of copper and other minerals between 2023 and 2025. The sultanate was also seeing rising public and private investment in infrastructure, including ports and integrated logistics networks.

“Guided by Oman Vision 2040 our ambition is to move beyond the extraction of minerals towards greater value creation through advanced processing, industrial development, innovation and international partnerships,” he said.

“Oman is here not simply to present investment opportunities but to build partnerships that deliver lasting value. We seek to strengthen cooperation with Australia and with partners around the world — bringing together mineral resources, capital, technology and expertise to develop competitive industries and resilient value chains.

“We believe the future of mining will be defined not only by the resources we possess but by the partnerships we build and the value we create together.”