Economy
Commercial Operations To Begin At Gabbro Quarry In Liwa By October 2021
In a new milestone towards its investment journey, Minerals Development Oman (MDO) has announced that the start of commercial operations of the Gabbro quarry in Wilayat of Liwa, Governorate of North Al Batinah, will commence by October 2021 with a production capacity of 2.4 million tons of Gabbro.
Since obtaining the exploration license, the Company has conducted a geological and economic feasibility study that revealed a recoverable amount of about 211 million tons of Gabbro in a mine life of about 50 years, covering an area of 2.2 square kilometers.
Based on the feasibility study, Ahjaar Mining Company was established in 2019 to operate the project in partnership with Assarain Group and Al Fajar Al Alamia Company.
Purchase agreements were also signed for 2.4 million tons of gabbro. The Company has ambitious plans to increase the production to reach 5 million tons in the next phase.
This is the first mining license that MDO has obtained in January 2019. Gabbro is witnessing an increased demand by a number of Gulf and regional markets, due to its rapid importance to the construction sector.
MDO was established with a clear strategic vision to invest in the mining sector in the Sultanate and to increase its contribution to the growth of the economic and social sectors by creating job opportunities and building local capacities and competencies, in addition to supporting small businesses and developing the local added value.
-
Alamaliktistaad Magazines2 months ago
Al-iktisaad, November 24
-
Energy2 months ago
Oman and Belgium Strengthen Green Hydrogen Partnership with New Landmark Agreement
-
Energy2 months ago
OUTLOOK: Emerging Markets and Renewables – The Twin Engines of Energy Growth for 2025
-
OER Magazines1 month ago
OER Magazine: December 2024 Edition – The Most Trusted Brands in Oman
-
Technology1 month ago
EXCLUSIVE: Technological Singularity – Will It Become Humanity’s Greatest Leap or Its Most Perilous Step?
-
Oman2 months ago
Oman Braces for Launch of First Experimental Rocket Duqm-1 on 4 December 2024
-
Oman2 months ago
Transport Ministry Issues New Regulation for Security of Ships, Ports
-
Magazines2 months ago
OER Magazine: November 2024 Edition