Public Authority for Mining (PAM) will organise a press conference at its headquarters to unveil the first bidding announcement for pre-approved mining blocks on Sunday.
The event will be attended by Eng Hilal bin Mohammed al Busaidi, CEO of PAM, and the Mining Blocks project team.
The press conference will unveil the ‘Mining Blocks’ project along with the mechanisms of floating, bidding processes, and competing criteria. In addition, the economic importance of the project will also be discussed.
The project aims to attract local and foreign investments to the mining sector in Oman through creating attractive pre-approved investment opportunities, which will save time and effort.
It will contribute to accelerate the optimal investment in the sector, increase local added-value, and establish mining and manufacturing industries as well as create new job opportunities.
The project will also achieve the concept of transparency and competition among investors and will contribute to create a regular sustainable source of investment opportunities, as it will maximise the economic value of the sector.