South West Pinnacle Lands Rs 30 Crore Mining Deal in Oman
South West Pinnacle Exploration Ltd has secured a Rs 30 crore contract for exploration and mining of minerals, including gold, in Oman. Awarded through a joint venture, the project will be executed over two years. The contract was secured from Minerals Development Oman.
- Country:
- India
South West Pinnacle Exploration Ltd has successfully secured a significant contract estimated at Rs 30 crore for exploring and mining minerals such as gold in Oman. This lucrative deal has been awarded by Minerals Development Oman (MDO).
The company, operating through its joint venture Alara Resources LLC (ARL) in Oman, will focus on exploring copper, gold, and chromite in designated areas 12 B and 13 over the next two years, according to a company regulatory filing.
The strategic move is a collaboration with Oman Investment Authority and Oman National Investments Development Company (TANMIA), aimed at driving the monetization of Oman's mineral resources. South West Pinnacle is known for its expertise in mineral and unconventional energy exploration.
(With inputs from agencies.)
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