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.
-
Economy2 weeks agoNumber of Workers in GCC Countries Increase From 2021 to 2025
-
OER Magazines4 weeks agoDossier Oman: Banking, Finance & Insurance Special Edition
-
Banking & Finance2 months agoSohar International Contributes OMR100,000 to Support Those Affected by Al Masarrat Weather Conditions
-
OER Magazines2 months agoOER, March 26
-
Oman2 weeks agoREVIEW: WHOOP and the Rise of Performance Luxury
-
Economy1 month agoOPINION: War, Climate, and the Costs We Choose Not to See
-
Alamaliktistaad Magazines2 months agoAl-Iktisaad, March 26
-
News1 month agoHussain Al Maimani Joins MHD Infotech as Senior General Manager
