Oman plans on new law for mining concessions

Minister of commerce and industry, Dr Ali bin Masoud Al Sunaidi, announced that the government is planning to change the process for awarding concession area for mining companies. Mining companies will have to compete for getting mining concessions from the Oman government in a competitive bidding process. Currently, minerals that are produced in the country are without any value addition and exported with minimum fair value. The new law also aims at analysing the value addition factors like minerals and chromites and putting in place proper procedure for export. The new mining law is framed to strengthen value addition in the mining sector.