Oman Marks Groundbreaking for Redevelopment Project at Lasil and Al Baydha Copper Mines
27 February 2024Minerals Development Oman Company (MDO) celebrated the groundbreaking ceremony for redeveloping the Lasil and Al Baydha copper mines in Block 4 of the Wilayats of Sohar and Liwa.
The event was held under the auspices of Eng. Salim Nasser Al Oufi, Minister of Energy and Minerals.
The redevelopment of the Lasil and Al Baydha mines is the MDO’s first copper mine project; resulted from the intensive exploration programs carried out by MDO in 2022 revealed the potential of commercial reserves of copper ore estimated at approximately 2.78 million tons in Block 4, part of Oman Mining Company geological assets.
The project will encompass a series of phases, including the mobilization and construction of the mines, open-pit mining operations, and then the commencement of processing and concentration operations. The production of copper ore from the Lasil mine is anticipated to begin this year, while production from the Al Baydha mine is expected to commence in 2026.
The project aims to produce approximately 800,000 tons of copper ore per annum. The project’s initial phase is expected to last four years based on the current reserves. However, the company is progressing exploration campaign at the surrounding areas to hopefully secure new reserves and extend the production period.
Eng. Nasser Saif Al Moqbali, CEO of MDO, said, “The redevelopment project of the Lasil and Al Baydha copper mines marks the start of a significant journey for a series of mining projects and a crucial step towards reviving the copper mining industry in the Sultanate of Oman, which will keep up with the global demand externally and boost the local industries internally.”
The project strives to enrich local value addition and optimize value chains in collaboration and partnership with the private sector. MDO has awarded the mining contract to a national contractor, and awarded the processing contract to Mawarid Mining to process the copper ore in their concentrator located in the Wadi Al Jizzi, Sohar. This initiative exemplifies the company’s unwavering commitment to fostering the mining sector in Oman through a commendable public-private partnership.
MDO’s CEO added: “Since the transfer of Oman Mining Company to the group, MDO has begun implementing an ambitious turnaround strategy to revive the company and benefit from its previously unexplored geological assets. Within a short period, we managed to overcome many of these challenges with the support of our partners in the Ministry of Energy and Minerals and other Government entities.
The redevelopment of the Lasil and Al Baydha copper mines project is a significant accomplishment of the turnaround strategy. This strategy aims to enhance the company’s financial performance, leverage its human resources and technical expertise, and restore the Oman Mining Company’s prestigious position in the copper industry markets”.
Related
-
Wabtec secures $405m Kazakhstan locomotive deal
2 November 2024
-
ICG enters South Korean renewables market with stake in Revent Energy
2 November 2024
-
SCG to invest $700 mln more in petrochemicals complex in Vietnam
1 November 2024
-
Saudi Binladin to receive $6bn loan
1 November 2024
-
Neom to tender hydropower contract
31 October 2024
-
Thiess-Khishig Arvin Joint Venture secures three-year mining services contract in Mongolia
31 October 2024