By: AGBI

The discovery was made in Block 8, about 130km from Muscat. Power Metal Resources acquired the exploration rights for the area from the government of Oman two years ago and started work on it in the fourth quarter of 2024.

Recent fieldwork by its majority-held subsidiary Power Arabia “has identified new copper mineralisation, reinforcing the project’s potential as a key force for power metal resources,” the company said in a statement published in Omani media.

Last month the state-run Minerals Development Oman resumed exporting copper from the Al Aseel Mine in North Al Batinah via the port of Sohar, with its first shipment in nearly 30 years. 

Oman’s energy and minerals ministry said last year it was preparing for offering a new batch of concession areas to mining companies. 

This would include new areas targeting commodities such as chromite, copper, limestone and other minerals.

Oman wants to diversify its income away from crude oil production to boost its revenues, which have been hit by chronic deficits. Mining is seen as an alternative for new financial resources to fill up depleted government coffers.