Market Overview
Oman possesses significant mineral wealth beyond hydrocarbons, with commercial deposits of chromite, copper, gold, limestone, marble, gypsum, and silica sand. The mining sector contributed OMR 450 million to GDP in 2024, with the government targeting a doubling of output by 2030.
The Public Authority for Mining (PAM) has modernised the concession framework, introducing competitive bidding for new exploration blocks and streamlined permitting for small-scale mining.
Opportunity Assessment
Chromite extraction remains the flagship sub-sector, with Oman holding significant ophiolite formations. Copper deposits in the Hajar Mountains present brownfield expansion opportunities. Industrial minerals including limestone and gypsum serve growing domestic and regional construction demand.
| Metric | Value |
|---|---|
| Mining GDP contribution | OMR 450 million |
| Active mining licenses | 850+ |
| Chromite production | 2.5 million tonnes/year |
| Copper reserves | Estimated 15 million tonnes |
| Marble varieties | 50+ commercially viable |
| Growth target | 100% increase by 2030 |
Risk Factors
Environmental compliance requirements have tightened significantly. Water scarcity constrains processing options in inland areas. Transport infrastructure to remote mining sites may require investor-funded development.
Entry Strategy
PAM exploration licences provide first-mover access to underexplored geological formations. Joint ventures with established Omani mining firms such as Al Tasnim and National Mining offer operational infrastructure. Value-added processing near Sohar port reduces logistics costs.
Vision 2040 Alignment
Mining diversification is explicitly targeted under Vision 2040’s economic diversification pillar, with the Mining Strategy 2040 setting production volume and value-addition targets across seven priority minerals.