Oman turns back to copper exports after 30-year pause
The Gulf state has been taking steps to resume production since cutting off copper exports in 1994
Al Ayhjah harbor in Oman (Getty Images)
Oman is resuming copper exports after nearly 30 years as part of efforts to diversify its economy.
Minerals Development Oman announced the first shipment of copper concentrates this week from its Lasail mine and plans to start mining operations in Al Baydha by 2026.
“The project is a natural hedge for Oman,“ Michael Widmer, head of metals research at Bank of America, told The National. “The country’s export revenue [is] heavily geared towards oil and gas, making the investment in metals and mining interesting.”
Copper mining in Oman ceased in 1994. The country has been taking steps to resume production since 2017.