Alara Resources secures mining licence for Oman copper project

23 May 2018 (Last Updated May 23rd, 2018 11:21)

Alara Resources has secured a mining licence for its Al Hadeetha copper project from Oman’s Public Authority for Mining.

Alara Resources has secured a mining licence for its Al Hadeetha copper project from Oman’s Public Authority for Mining.

The application for the licence encompassing the Washihi Ore Reserve was submitted by Al Hadeetha Resources, a joint venture (JV) between Alara Oman Operations and Al Hadeetha Investment.

Now that the Public Authority for Mining has signed the licence, Alara expects the formal presentation of the licence and associated terms to follow next week.

“With global demand for copper rising and further supply deficits expected to widen in the coming years, it’s the right time to be developing a new copper mine.”

Alara Resources CEO Justin Richard said: “This represents a major milestone for the Al Hadeetha Copper Project and for future development of the copper sector in Oman.

“With global demand for copper rising and further supply deficits expected to widen in the coming years, it’s the right time to be developing a new copper mine.”

The company is gearing up to expand its copper portfolio in the country and become a mineral producer in partnership with its JV partners.

In total, the partners submitted five mining licence applications in Oman. Of the five, three pertain to the Al Hadeetha copper project and the remaining two for the Daris copper project.

The partners are following up with the relevant authorities to secure the approvals for the remaining applications.

Under the Al Hadeetha project, Alara is planning to construct a copper concentration plant with an initial mine life of ten years, that is expected to produce one million tonnes of copper per year.

Located around 160km southeast of the Daris copper project and Awtad copper project, the Washihi site is scheduled to produce copper concentrate.

The focus on copper discovery and production is in line with the country’s broader plan to diversify its economy.