Oman's Al Hadeetha to start mine’s commercial development by year-end

Muscat: Al Hadeetha Resources, a 70:30 joint venture between the Australia-based Alara Resources and Al Hadeetha Investment Services, plans to start commercialdevelopment/construction at its copper and gold mine project in Washihi, which is located about 160 kilometres south-east of Muscat, by the end of this year.

However, this will be subject to the company getting a mining licence from the Public Authority for Mining.

The company also plans to invest an additional $50 million in commercial mining and it will take a year to start commercial production, Justin Richard, chief executive officer of Alara Resources, told the Times of Oman.

He said the company has found additional mineralisation (ore deposits), which is in addition to the already declared resources of 14.1 million tonnes in Washihi.

“This is the largest single JORC (The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves) copper deposit in Oman,” he said, adding, “Such a large volume will help the company build a copper concentrator there.”

Al Hadeetha Resources has invested over $9 million in the development of this project so far and is looking forward to commencing the mine’s construction.

Richard also noted that the entire process—mining, concentrating and smelting—can be carried out within the country, which will help retain the entire production process in Oman.

According to an earlier report, the feasibility study found that the project will generate $434 million in revenue over a period of 10 years. Further, exploration targets have been identified, which could double the mining inventory for the project.

Al Hadeetha Resources is committed to the responsible development of these assets and sees great growth potential within the mining sector as Oman continues to implement its strategy of a building a more diversified economy.

http://timesofoman.com/article/8603...art-mine's-commercial-development-by-year-end