Mazoon Mining's Copper Endeavour: A New Era for Oman's Economy

Mazoon Mining, a subsidiary of MDO, has received USD 270 million in financing to develop the largest copper concentrate project in Oman. The project, located in Al Dhahirah, is expected to produce 115,000 tonnes of copper annually. Construction and service contracts have been signed to boost local economy.

Devdiscourse News Desk | Muscat | Updated: 19-05-2025 16:28 IST | Created: 19-05-2025 16:28 IST

Mazoon Mining's Copper Endeavour: A New Era for Oman's Economy — This image is AI-generated and does not depict any real-life event or location. It is a fictional representation created for illustrative purposes only.

Country:
Oman

Mazoon Mining, a branch of Minerals Development Oman (MDO), has secured a substantial USD 270 million in financing from prominent local and regional banks, marking a significant advance in Oman's largest integrated copper concentrate project.

The agreements, unveiled at the Rawabit Forum by the Oman Investment Authority, underline robust institutional confidence in the strategic venture, poised to elevate Oman's mining sector. Situated in Al Dhahirah's Yanqul, the project spans 20 square kilometers, aiming to produce 115,000 tonnes of copper concentrate annually.

Backed by oversubscribed investments, Mazoon Mining has also signed essential contracts with local firms, fostering SME participation, economic impact, and environmental responsibility in accordance with Oman Vision 2040's diversified economy goals.

(With inputs from agencies.)