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Oman Mining Strategy
Oman
Public Authority for Mining (PAM) Oman
2017-2018
In July 2017, SRK was appointed by the Public Authority for Mining (PAM) as lead consultant of a consortium with Wood Mackenzie Limited and Mayer Brown LLP to deliver a multidisciplinary review of the Oman mining sector and develop a strategy to support the sector's development over the next 10 years, laying the foundation for its long-term sustainable growth.
At its core, the strategy considered four key elements:
• Maximising the economic value of the Oman mining sector – review of key sectors and projects within the industry, with a view to identifying development and promotional opportunities, defining key GDP contribution drivers, and potential routes to investment.
• Managing the sustainable development and utilisation of mineral resources – review of the legal and fiscal framework operating in Oman, with the intention of unlocking critical bottle necks, improving governance, and developing a transparent and efficient environment for investment.
• Developing national assets and capabilities to ensure long-term sustainability – promoting the management of and access to data, unlocking exploration and development potential as well as introducing process efficiency. Assessment of the sectors and PAM’s future human resource needs and an associated roadmap for training and education.
• Maximising the contribution of the mining sector to the quality of life in Oman – assessment of the potential synergies between the mining sector and environmental and social setting.
Oman poses a diverse range of geological terranes and therefore it was necessary for the commission to consider both metalliferous and industrial mineral opportunities. Each commodity was assessed in terms of the technical considerations when defining and assessing potential exploration targets, mineral deposits, development projects, and operations. These were then, in turn, influenced by economic factors, including logistical and downstream constraints/opportunities, and the international supply and demand process.
The strategy highlighted the opportunities to create a more attractive commercial environment for interested and competent developers and operators, whilst also identifying a range of opportunities in a variety of commodity value chains, that if fulfilled, would significantly increase the mining sector's contribution to the Oman economy. The strategy also provided recommendations in terms of improvements to the country’s operating and regulatory environment, thereby improving Oman's attractiveness as a destination for mining related investment.
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